Abu Dhabi State Fund Leads $60 Million Funding in Logistics Software Startup
Abu Dhabi state fund Mubadala Investment Co. is leading a new $60 million investment round in logistics software startup Turvo, backing a technology that Mubadala says could support its businesses in the semiconductor, mining, energy and other sectors.
Richard Blanch, the chief executive of high-end cosmetics company Le Metier de Beaute, says one of his leading frustrations is freight.His company uses data to drive everything from in-store shopping experiences to social media campaigns as cosmetic shopping habits evolve. But when it comes to making sure his products arrive at hundreds of retail locations around the world, he hasn’t had the same transparency.
Logistics Startup Turvo Emerges From Stealth With $25 Million In Series A Funding
Turvo, a two-year-old, Sunnyvale, Ca.-based company, is emerging today with an idea so ambitious that investors have provided it with $25 million in Series A funding to chase it. What it wants to do: connect people looking to have things shipped, which doesn’t sound so unlike what a lot of both traditional and newer companies want to do. Turvo is setting out to differentiate itself in a number of ways that may make it a compelling longer-term bet.
Venture capital pushes entrepreneurs to think big. So big, that often, startup pitch decks can border on parody, advertising ridiculous-sounding numbers like a "trillion-dollar market opportunity." “Imagine if we took just 1% market share,” the startup CEO declares at demo day.Then again, as software moves into every industry, the opportunities are indeed getting bigger.
Turvo Raises $25 Million To Simplify Logistics Management
Turvo, a Silicon Valley startup that's been quietly building logistics management software, has raised $25 million in Series A funding. Turvo's software lets large business connect all vendors and services they use to ship or move merchandise or supplies ― including brokers, shippers, carriers, and invoices and payments ― so they can manage it all at once. Sort of like a central command center.
Silicon Valley-Based Turvo has launched its new “collaborative logistics” platform, allowing shippers, brokers and carriers to work together in real-time across the entire supply chain. Turvo’s platform provides real-time visibility of shipments, Al-powered productivity tools, and secure collaboration, the company said.
Turvo Brings Much-Needed Collaboration to Modernize Logistics
Utilizing its innovative software-as-a-solution interface, Turvo is bringing together all agents involved in logistics for better collaboration and seamless transactions on one platform. "Bring order to chaos." That's the motto logistics startup Turvo lives by. It seems to be working well so far, as logistics platform Turvo recently raised a $25 million Series A.
Turvo, the World's First Real-Time Collaborative Logistics Platform, Raises $60M Series B Funding Led by Mubadala Setting the New Standard for the Global Logistics and Supply Chain Industry
Turvo, the world's first real-time collaborative logistics platform, announced today it has closed $60 million in Series B funding led by Mubadala Ventures, the San Francisco-based venture capital arm of Mubadala Investment Company. Turvo also added new investors G2VP and Next47, the Siemens-backed global venture firm. These funds bring the total investment in the company to nearly $100 million, solidifying Turvo as the new standard in end-to-end visibility and collaboration for the logistics and supply chain industry.
Disrupting The $8 Trillion Logistics Industry Turvo Launches First Real-Time Collaborative Logistics Platform
Turvo announced today the launch of its revolutionary “collaborative logistics” platform that empowers shippers, brokers and carriers to work together in real-time across the entire supply chain. The company also announced it has raised $25 million in Series A financing from top-tier investors.