Singapore-based supply chain management software provider Quincus has raised an undisclosed amount from aerospace manufacturer Boeing for the second close of a series B round valuing it at over $100m.
Boeing provided the funding through AEI HorizonX, a joint venture with private equity firm AE Industrial Partners. Venture capital firms UP.Partners and GGV Capital provided a similarly undisclosed amount in a first tranche in September this year.
Founded in 2014, Quincus has developed an enterprise software platform that helps solve supply chain and logistics problems for businesses in the airline, freight and e-commerce industries.
The series B proceeds will be used to expand the company’s global presence, with a focus on the US market. GGV Capital had previously led a series A round of undisclosed size for it in January this year, investing alongside Masik Enterprises and Aletra Capital Partners.
Quincus co-founder and chief executive Jonathan Savoir said: “With the backing of AEI HorizonX, Quincus not only gains additional capital but greater access to the deep operational knowledge and industry relationships that Boeing and AE Industrial have built over many decades.
“AEI HorizonX, along with our existing Series B investors UP.Partners and GGV Capital, will provide an important strategic advantage as we look to expand our global footprint and invest in innovative platform and optimisation offerings for our customers.”
