Shippeo‘s newest fundraising round will help steer the company into new markets.
The company, which focuses on real-time visibility in transportation, announced Wednesday it had raised a $30 million strategic funding round. Toyota’s fund Woven Capital led the round, which also saw participation from Battery Ventures, Partech, NGP Capital, Bpifrance Digital Venture, LFX Venture Partners, Shift4Good and Yamaha Motor Ventures.
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Shippeo helps companies make their supply chains more sustainable and resilient by enabling clients insight into their carbon footprint data, no matter which mode of transportation they’re interested in using for a shipment. From there, they can make decisions about the carbon trade-offs between shipment methods. The new funding brings Shippeo’s total amount raised to more than $140 million since it was founded over 10 years ago.
Climate-related considerations continue to hold importance for supply chain players; in 2024, more than half of industry leaders in the U.S. said that sustainability would be a key area of investment, up 13 percentage points from the proportion of leaders who said the same in 2023. Having further details about the carbon emissions behind transporting goods could help companies make more climate-friendly decisions, in turn making movement toward emissions-related 2030 and 2050 goals.
Prashant Bothra, principal at Woven Capital, said the fund believes the Shippeo solution has the potential to change how supply chains operate in an unprecedented way, on a global scale.
“Global supply chains are facing unprecedented complexity, and real-time transport visibility is essential for building resilience,” Bothra said in a statement. “Shippeo’s platform empowers businesses to proactively address disruptions by transforming fragmented operations into streamlined, data-driven processes across all transport modes, offering precise tracking and predictive ETAs at scale—capabilities that would be resource-intensive to develop in-house.”
Shippeo already tracks more than 90 million shipments for brands across 150 countries. The Paris-based company noted that the round will aid the further development of its visibility platform and support its continued expansion throughout North America and the APAC region.
In North America, Shippeo has seen a 40 percent increase in customers and a 92 percent increase in the number of shipments tracked year-on-year (YoY); it has recently onboarded Amazon and expects to attract other marquee names because it believes it has higher data quality than other players in the visibility market. In APAC, Shippeo has seen a 53 percent increase in customers and a 64 percent increase in shipments tracked YoY.