Forwarding, Freight News, IT, Logistics

More funds for logistics IT firm

[ July 11, 2023   //   Chris Lewis ]

Intelligent logistics platform Raft has completed $30 million in Series B funding. The funding round was led by global VC investor Eight Roads with participation from existing investors Bessemer Venture Partners, Episode 1, Dynamo Ventures and Moguntia Capital. Founded in 2017, Raft—formerly known as Vector.ai—applies Artificial Intelligence (AI) to daily logistics tasks and interactions. The fresh capital infusion will be used to increase development and deployment of Raft’s core automation products and improve data collaboration. The Raft team has grown to more than 95 employees in the UK, India, and the US and the company is planning additional hires across product, engineering, and commercial functions over the next year.

Tags: Raft