US-based logistics software developer ClearMetal has raised $9m in a series A round featuring port operator PSA International, enterprise software producer SAP and chassis leasing service provider Direct ChassisLink (DCLI).
Venture capital firms Prelude Ventures and Innovation Endeavors co-led the round, which included fellow VC firm New Enterprise Associates (NEA) and angel investor John Urban, while PSA and SAP contributed through strategic investment units PSA Unboxed and SAP.io.
Founded at Stanford University in 2014, ClearMetal uses artificial intelligence to standardise and optimise supply chain data for manufacturing and retail companies, enabling them to assess their supply chains and plan their logistics activities more effectively.
The company’s customers include logistics service provider Panalpina and paper goods manufacturer Georgia-Pacific.
ClearMetal raised $3m in a February 2016 seed round led by Skyview Capital and backed by Innovation Endeavors and NEA.
Elton Fong, team lead at PSA Unboxed, said: “PSA and ClearMetal share a vision for the future of a truly data intelligent supply chain and ClearMetal’s platform has the potential to revolutionise how we look at logistics flow.
“Our common aim is to enable supply chain players to offer better service to their customers, which will ultimately benefit the end consumers.”