Terminal49 secures $6.5mn Series A to power ocean freight visibility
Terminal49 helps customers identify containers at risk and make cost-saving decisions faster
Terminal49 secured $6.5 million in Series A funding led by Stage 2 Capital and co-lead by Grand Venture Partners with follow-on participation from seed stage investors leading to a total funding of $8.7 million.
"We are excited to support Akshay and Terminal49 on their journey to automate global trade," says Dan Heck, Partner, Stage 2 Capital and Board Member, Terminal49. "They have built a product that customers value, and that hundreds of organisations rely on to manage ever-increasing complexity and costs within their global supply chains."
Terminal49's API pulls in real-time ocean shipment and container data from shipping lines and terminals, standardising the data into a centralised and searchable dashboard, says a release from Terminal49. "The data is also accessible via a push-based API. Rather than searching across dozens of websites and manually managing container milestones in spreadsheets, Terminal49 customers have instant access to up-to-date container statuses, helping them more quickly identify containers at risk and make cost-saving decisions faster."
Akshay Dodeja, founder and CEO, Terminal49 says: "We're thrilled to have Stage 2 Capital and Grand Venture Partners on this journey with us to improve global trade visibility and automation. We've solved a cumbersome and unreliable process for companies who need to track ocean freight traffic by standardising data and making it accessible through a single view. But that's just the beginning. With our recent round of funding, we're one step closer to automating the tedious work behind global trade."
Terminal49 had raised their seed round (2017) from Initialized Capital, Afore Capital, Liquid2 Capital, Immad Akhud (Mercury CEO), James Tamplin (Firebase CEO) and Kyle Vogt (Cruise CEO), the release added.