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7bridges raises USD 17 mln in Series A funding

Monday 17 January 2022 12:18 CET | News

UK-based 7bridges startup, wanting to simplify supply chains using AI-based automation platform has announced USD 17 million in Series A.

The data platform ingests a company’s supply chain, operating and logistics data to present a user with optimised recommendations for how to move goods. Eight Roads, the investment firm backed by Fidelity, is leading the round for London-based 7bridges, with Local Globe and enterprise VC Crane, which both invested in 7bridges’ seed round in 2020, are also participating.

Shipping player Maersk, by way of its fund Maersk Growth, is also in the round as a strategic backer: Maersk will be working with 7bridges to integrate its logistics and shipping data into 7bridges to help Maersk customers manage their logistics more easily. Valuation is not being disclosed. 7 bridges has raised just over USD 20 million to date.

7bridges have developed a novel technology solution to digitalise the design, management, and optimisation of supply chains. 7bridges will help a range of businesses to harness the power of data and AI to support commercial decision-making.

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Keywords: funding, trade finance, supply chain finance, startup
Categories: Banking & Fintech
Companies:
Countries: United Kingdom
This article is part of category

Banking & Fintech