Wakeo, a French start-up that provides real-time visibility of multimodal intercontinental transport flows, has raised €18 million. The round was led by Statkraft Ventures, with continued investment from existing investors Promus Ventures, 360 Capital, 50 Partners and Techstars.
The funds raised will be used for international expansion, product development and to further Wakeo’s commitment to sustainability by providing solutions for supply chain visibility and decision making. The company aims to position itself as a global leader in its field.
Founded in 2016, Wakeo offers a Software as a Service (SaaS) platform that provides real-time visibility into intercontinental multimodal flows. The platform uses an algorithmic model rooted in industry expertise to provide supply chain teams with intelligent Estimated Time of Arrivals (ETAs) for their shipments, enabling them to anticipate and mitigate disruptions.
In the announcement of the successful fund, the company talks about the challenges of the current era, including geopolitical tensions and climate-related crises affecting the supply chain. Wakeo is positioning itself as a solution to mitigate these risks and improve supply chain resilience.
“We are incredibly delighted by the trust from Statkraft Ventures as they join us in our journey to become the global leader in supply chain visibility. Through this partnership, we will benefit from Statkraft’s international footprint, climate-focused DNA and portfolio of outstanding players like Deepki, Zolar, Skyspecs, and Metaloop,” – said Julien Cote, CEO and Co-Founder at Wakeo.
Stefan Hülsen, Managing Director at Statkraft Ventures, added:
““e are thrilled to support Wakeo’s vision for a more resilient and sustainable supply chain. Wakeo’s innovative solutions provide a holistic approach for supply chain leaders to make more informed decisions with a balance in reliability and sustainability – perfectly aligned with Statkraft Ventures’ dedication to supporting businesses contributing to the move towards a sustainable economy.”
Wakeo claims to manage transport flows in over 180 countries and has gained the trust of leading shippers across a range of industries, including Uniqlo, Michelin, Corteva, Forvia, Hilti, B. Braun, Majid Al Futtaim and global freight forwarders such as Ceva Logistics, Clasquin, Blue Water Shipping, Fracht, Berger Logistik and AT&L.