Cargobase, a Singapore-based logistics software firm, said Tuesday it has raised funds from Lufthansa Innovation Hub and Trestle Partners, reinforcing their joint commitment to supply chain tech innovation and digitalisation.

In a statement, Cargobase said the investment will be put towards accelerating global growth for the firm.

The investment will also go towards refinement of the user-experience, more integrations, richer data collection, predictive analytics, and automated decision-making.

“We will use this latest round of funding to speed up tech-enablement for all our users through our customer success team, as well as expand our user network through our business development team,” said its Chief Strategy Officer Arnout Wagenaar.

Following a double year on year growth, the company, now profitable for its third consecutive year, will build upon this success, and channel the capital injection towards expansion of its international footprint, product development, and customer success.

“‘Winter is coming’ as some say, both for the supply chain industry as well as for investments. But as supply chains brace for a brand new season of change, we are already sprinting ahead,” said Wiebe Helder, Chief Executive Officer and Founder of Cargobase.

“At Cargobase, we are proud of our technology as it empowers logistics professionals to go digital, in a time where logistics service providers rely – more-than-ever – on connected workflows to maximize efficiency and speed,

“Securing these investments is confirmation that we are on the right track, and an indication that we can potentially shape the future of supply chains as it sits at the tipping point of digital transformation,” he added.

The company has opened an office in Mexico, and is expanding its footprint across United States and Europe through regional office setups.

“As the industry shifts towards more real-time and collaborative ways of doing business, we are proud to offer software that works; software that contributes to our customers’ everyday cost savings and success,” said Gert Jan Spriensma, Chief Product Officer of Cargobase.

“Our customers continue to recognize and reward Cargobase for innovation and providing a best-in-class TMS and we will be dedicating a part of the investment towards making the lives of logistics professionals as easy and automated as possible, so they can focus on the things that truly make an impact,” he added.

Existing management, led by Wiebe Helder, will continue to lead the company.

“We (Cargobase and Trestle) share the same vision, to keep the world moving, and its CEO has a no-nonsense attitude and is laser-focused on ‘Getting Ship Done’,

“Cargobase has provided logistics professionals with a well-built, comprehensive, and user-friendly enterprise software as a service (SaaS). We are thrilled to partner with Wiebe and his team,” said Thomas Babcock, Managing Partner of Trestle.

Lufthansa Innovation Hub Managing Director Christine Wang said the group’s ambition is to further grow its business portfolio which consists of venture building, partnerships, and investments.

“Cargobase is a great addition. The software’s value proposition to reduce complexity and bring more efficiency to global supply chains reflects our focus on digital business models and expands our knowledge in the field of transportation management software,

“Cargobase’s global network with headquarters in Singapore underpins our commitment to Asia and our goal to drive businesses that have an impact on a global scale,” she added.

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