Germany-based logistics software developer Sennder received $160m yesterday in a series D round co-led by automotive manufacturer Scania and venture capital firms Project A, Lakestar, HV Capital and Accel.
Founded in 2015, Sennder provides an online platform for freight forwarding services that connects shipping companies with a network of more than 10,000 trucks across Europe. The series D round valued it at over $1bn.
The company will use the series D proceeds to bolster headcount, accelerate its research and development activities and drive its expansion into new European markets. It will invest $100m of the funding specifically into developing its technology.
Scania’s corporate venturing fund, Scania Growth Capital, invested a seven-digit dollar amount in Sennder in 2017 before Accel led its $30m series B round in April 2019 with participation from Scania, HV Holtzbrinck Ventures and Project A.
Sennder pulled in $70m three months later, in a series C round led by Lakestar that included Next47, an investment subsidiary of industrial equipment and appliance maker Siemens, as well as Scania Growth Capital, Accel, H14, HV Holtzbrinck Ventures and Project A.
Sennder merged with France-headquartered shipping services portal Everoad in June 2020 and acquired the European freight business of on-demand ride provider Uber in September. Investment firm Dynamo and VC firm Earlybird both list it as a portfolio company on their websites.