US-based logistics routing software provider Wise Systems collected $15m in funding from investors including internet technology provider Google and logistics property developer Prologis yesterday.
The round was led by venture capital firm Valo Ventures and included E14 Fund, the VC fund affiliated to Massachusetts Institute of Technology’s Media Lab. Google and Prologis invested through Gradient Ventures and Prologis Ventures respectively.
Founded in 2014, Wise Systems provides machine learning-equipped software that allows logistics service providers to accelerate goods delivery by optimising the scheduling and monitoring of trucking routes.
The capital will go to building up Wise Systems’ machine learning research and development activities in addition to expanding its partnerships, sales and operations.
Gradient Ventures led a $7m series A round for the company in late 2018 that lifted its total funding to $8.5m, investing alongside existing backers E14 Fund, Neoteny, Trucks Venture Capital and Fontinalis Partners. It followed $1m of equity funding in 2016 according to a regulatory filing.