French logistics specialist Shippeo has secured a total of €68 million in funding this year, with €40 million raised in a recent funding round, following a previous raise of €28 million earlier in 2021. The company plans to utilize these funds to accelerate its growth and expand its operations into the North American and Asia-Pacific markets. Shippeo’s existing investors, including Battery Ventures, Partech, NGP Capital, ETF Partners, Bpifrance Digital Venture, and SAP.io, participated in the funding round, alongside new investors LFX Venture Partners from Hong Kong and Yamaha Motor Ventures from Japan. The investments from the new partners will help Shippeo strengthen its presence in the Asia-Pacific region.

Shippeo specializes in real-time monitoring of logistics activity and employs digital automation and artificial intelligence tools to enhance its operations. Its services cater to clients in both the consumer goods and industrial manufacturing sectors. The company claims to survey the activity of 150,000 freight carriers across 92 different countries, demonstrating its extensive reach. Shippeo has experienced substantial revenue growth in recent years, with its logistics data flow subscription service reportedly growing by 80% over the past three years. The company has also managed to attract 150 new clients, including major companies such as Coca-Cola, Renault, Philip Morris International, and Jaguar Land Rover.

CEO Pierre Khoury emphasizes that this funding round marks a significant milestone, as it is the largest ever by a provider of supply chain visibility software in Europe. Khoury expresses confidence that the funds will solidify Shippeo’s financial position and strongly support its ongoing expansion into the North American and Asia-Pacific markets. As of now, Shippeo has a workforce of over 220 employees and is headquartered in Paris. Earlier this year, the company made its entry into the North American market and has since aimed to establish itself as a leading international provider. Additionally, Shippeo has recently introduced a new service in the form of a dashboard, which simplifies the tracking of carbon emissions associated with transportation and distribution activities performed by shippers and freight carriers.

To learn more about Shippeo and its services, please visit their official website here. For more information on the recent funding round and Shippeo’s expansion plans, refer to the official press release here.