Shypple raises €25.5 million, gets into perishables market with the acquisition of Milestone
Today, Dutch collaborative digital freight forwarding and supply chain platform Shypple, raised €25.5 million in a Series A and A2 funding round. The additional €18.5 million A2 funding comes after an earlier Series A of €7 million in April. Existing investors Dutch Founders Fund, Newtown Partners, InnovationQuarter and BOM Brabant Ventures have participated in the round. The new funding will be used to further accelerate Shypple’s growth and push for greater innovations in the freight forwarding industry.
Founded in 2016, the Shypple platform and digital freight forwarding service already connects thousands of businesses to manage and improve their supply chain. In addition, the technology-driven platform becomes the first digital freight forwarder in the market for air freight and perishables through the acquisition of Milestone. Shyppe’s revenue is expected to reach €250 million by 2022.
Jarell Habets, founder and CEO of Shypple commented:“With the acquisition of Milestone, we have strengthened our capabilities in the perishables and air freight forwarding markets to a globally competitive position. We’re now able to serve the needs of large perishable goods shippers in Europe, Latin America and the Asian trade lanes, who are looking for a digital freight forwarding solution. This is our way of continuing to innovate in the traditional world of the freight industry.”
“We are giving a huge boost to the digitalization of our services by combining our knowledge of perishable transport with the digital capabilities of Shypple,” said Milestone co-founders and CEOs Co van Es and Juri Falandt. “As a result, our customers immediately benefit from the visibility, consistency, and reliability that will enable them to confidently optimize their global trading operations. This is hugely important in an intercontinental market where efficiency and access to the latest freight information are essential.”
Source: Tech.eu “Shypple raises €25.5 million, acquires Milestone to enter perishables market”