Japan-based shipping platform developer CBcloud has completed a ¥1.24bn ($11.7m) series B round led by internet and telecommunications conglomerate Softbank.
Logistics services provider Sagawa Express, property manager CRE and postal service Japan Post also took part in the round, the latter investing through corporate venturing subsidiary Japan Post Capital.
Founded in 2013, CBcloud has built a light cargo and shipper-matching platform called PickGo and an artificial intelligence and blockchain-powered dynamic management system dubbed Ichimana.
The company helps position the transportation network as a social infrastructure and its services are intended to improve work conditions for light cargo drivers, and convenience for shippers.
CBcloud will put the series B funding into talent acquisition, marketing and service development. It established a strategic alliance with Softbank in June this year centred on online supermarket delivery, is also partnering Sagawa Express, and intends to develop a next-generation home delivery system with Japan Post.
The company has revealed that its total funding has reached nearly $18m, CRE having previously contributed to a financing round in 2016.
Shintaro Kasai, head of digital transformation for SoftBank, said: “CBcloud is a company that has continued to revolutionise the logistics industry with superior technology and business models, and has collaborated with us as an important business partner.
“Through this funding, we will deepen co-creation with CBcloud and work to solve social issues the logistics industry faces.” (Translated from Japanese by Global Corporate Venturing)
