NGP Capital, the venture capital firm sponsored by communications technology provider Nokia, co-led a €20m ($21.8m) series B round for Shippeo, a France-based shipping analytics technology developer, yesterday.
The round was co-led by ETF Partners and included fellow investment firm Partech in addition to BPIfrance Digital Ventures, the early-stage arm of publicly owned investment bank BPIfrance.
Founded in 2014, Shippeo has built a software platform that combines predictive information and real-time data to enable users to track goods during the shipping process and mitigate any issues surrounding possible problems or delays in delivery.
The company now serves customers across 40 countries and said it has increased revenue 300% in the past year. CEO Pierre Khoury and chief operating officer Lucien Besse said in a joint statement: “Welcoming top-tier investors is a great source of pride for Shippeo.
“Their international reach and strong experience in the mobility sector will be a major asset when implementing our ambitious strategy to become the global leader of a $6bn market. By revolutionising supply chain visibility, Shippeo aims to unlock value for shippers and carriers, and in the long run, reinvent freight transport.”
Frst, the venture capital fund then known as Otium Venture, led the company’s $2.3m seed round in 2016 before returning to co-lead an $11.8m series A with Partech the following year.
