Beverages producer Coca-Cola has invested in Israel-based logistics management platform developer Bringg as part of a $10m funding round led by venture capital fund Aleph VC.
VC firm Pereg Ventures also took part in the round, which followed a $5m series A in late 2015 backed by fleet management services provider Ituran, Pereg and an undisclosed strategic investor likely to have been Coca-Cola.
Founded in 2013, Bringg has built a software platform that businesses can use to manage and streamline their logistics and delivery activities. The software has been developed as an open system, meaning it can be customised and linked to an enterprise’s existing infrastructure.
The company will use the capital to expand sales and marketing while growing its research and development and success and support teams. It has now raised $19m altogether, according to TechCrunch.
Raanan Cohen, Bringg’s co-founder and chief executive, said: “Amazon raised the standards when it comes to delivery, we provide the tools that enable any company to match their logistics excellence.
“This milestone will help us fuel Bringg’s meteoric growth, and I look forward to working with the Aleph team to continue establishing Bringg as the de facto customer-centric logistics solution for enterprises.”