– FRANCE, Paris – Shippeo, the leading supply chain visibility provider in Europe, today announced the closing of a €20 million Series B funding round co-led by NGP Capital and ETF Partners with participation from Bpifrance Digital Ventures. Partech, who participated in the Series A round, also took part in this new funding, reaffirming its trust in Shippeo and its long-term support to the management team
Shippeo provides predictive and real-time visibility into goods delivery. The AI-based platform aggregates data from hundreds of sources in real-time to calculate the estimated time of delivery arrival with 98% accuracy. Since its creation in 2014, Shippeo has successfully scaled its operations and is now servicing more than 50 large customers, such as Schneider Electric, Carrefour, Eckes-Granini and Leroy Merlin, across 40 countries. The team has grown tenfold and Shippeo now employs 80 people in seven different offices across Europe.
Over the last year, Shippeo has increased its turnover by 300%, positioning itself as one of the fastest-growing start-ups in Europe.
Pierre Khoury, CEO and Lucien Besse, COO said: “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 $6 billion market. By revolutionizing supply chain visibility, Shippeo aims to unlock value for shippers and carriers, and in the long run, reinvent freight transport.”
Bo Ilsoe, Partner of NGP Capital, said: “Working with great entrepreneurs is our core mission at NGP Capital and we are honored to join Pierre, Lucien and the talented Shippeo team in their continued journey. The supply chain industry is ripe for increased digitization and we look forward to adding value to the company through our global model and network.”
Remy de Tonnac, Partner at ETF Partners, added: “Shippeo created an outstanding platform to help Shippers embrace the efficiency of « Industry 4.0 » with superb customer experience. Going forward, Shippeo’s platform will also help the transportation industry to have much better visibility on its environmental impact and thus will drive significant improvements here for the benefit of all stakeholders.”
Shippeo will use the Series B funding:
- To further strengthen its market-leading position in Europe by multiplying the customer base times five while maintaining a very high customer satisfaction,
- To expand the team by 150 new recruits in data science, IT, sales and operations,
- To triple its R&D investment in AI and automatization to achieve increased operational excellence and increased customer visibility into the supply chain.
The supply chain industry remains fragmented and underserved from a technology standpoint. With more than 600.000 road freight companies in Europe alone, digitization offers a tremendous opportunity for industry disruption and Shippeo is leading the way in decreasing fragmentation and increasing real-time visibility into freight delivery.
About NGP Capital
NGP Capital is a global venture capital firm with over $1.2 billion under management, investing in growth-stage technology companies within the Intelligent Enterprise, Smart Mobility, and Mobile Technologies. NGP Capital backs entrepreneurs with a Connected World vision – a vision where the confluence of sensors, mobility, software, and cloud solutions will connect people, things, and industries in new ways, transforming how we live and work. NGP Capital invests actively in the U.S., Europe, India, and China. The portfolio includes companies like Xiaomi, Deliveroo, GetYourGuide, Moovit and more.
Visit at www.ngpcap.com
About Environmental Technologies Fund ETF Partners
ETF Partners supports talented entrepreneurs and management teams with investment capital and experience. Their funds come from institutional investors, global corporations and family offices. Following the motto ‘sustainability through innovation’, ETF create value by investing in and helping great young European companies that deliver Sustainability Through Innovation.
For more information: www.etfpartners.capital
Bpifrance supports french companies – at every stage of their development – through loans, guarantees, equity investments and export insurances. Bpifrance also provides extra financial services (training, consultancy) to help entrepreneurs grow their businesses and overcome the challenges they face (innovation, export…).
About Digital Ventures
Digital Ventures is the venture capital team of Bpifrance Investissement which focuses on top-tier innovative start-ups from Seed stage to Series B. With €650 million under management, Bpifrance Digital Venture invested in nearly 80 companies since 2011 such as Teads (acquired by Altice), Talentsoft, Netatmo (acquired by Legrand), Meilleurs Agents (acquired by Axel Springer), Balyo, Manomano, Evaneos, Synthesio (acquired by Ipsos), Openclassrooms, Strapi, Gitguardian.
For more information, please visit our website: www.bpifrance.fr
Partech is a global investment firm with offices in San Francisco, Paris, Berlin and Dakar. We bring together capital, operational experience and strategic support for entrepreneurs at seed, venture and growth stages across multiple continents, with over $1.2 billion investment capacity. Investments range from $200 000 to $50 million in a wide range of technologies and businesses for enterprises and consumers, from software, digital brands and services, to hardware and deep tech across all major industries. Companies backed by Partech have completed more than 20 initial public offerings and more than 50 strategic exits above $100 million.
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