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Freight tracking and logistics digitisation pioneer Nexiot is poised for further growth after securing CHF15 million (US$15.5 million) in funding through its latest investment round.
The company, which produces low-energy tracking devices for intermodal containers and smaller freight containers, as well as managing the data that they generate, was launched in 2015 as a spin-off company from ETH Zürich, one of the world’s top technical universities, and is the result of over ten years of research in connectivity, complex systems, big data algorithms and ultra-low-power embedded technology. It has expanded rapidly since its founding, quadrupling its team in size and last year opened new offices in Hamburg, Germany, and Dallas, USA, with further ongoing international expansion plans.
Nexiot said that with the new round of funding it “will continue to develop new technology for the logistics industry, to further scale its team, and expand its commercial activities internationally”. SVC Ltd for Risk Capital for SMEs, an investment vehicle of Credit Suisse in Switzerland, is among the companies backing the Zürich-headquartered tech company, along with leading Swiss insurance company Mobiliar Versicherungen, which previously invested in Nexiot.
Marcel Scheurer, Nexiot’s chief financial officer, commented: “The additional investment from a range of companies in Nexiot is a vote of confidence in our mission to develop unique solutions to drive global logistics digitisation. This development highlights our growing global success story and strengthens our leadership position in enabling the digital supply chain with true end-to-end solutions, in order to increase efficiency, as well as generate additional revenue streams and increase value for our clients and partners.”
You can visit Nexiot at Intermodal Asia on stand number G63.