Swiss-based big data company Nexxiot raises $25M in latest round of funding
Global supply chain digitization and big data company Nexxiot has announced $25M in investment in its latest funding round, led by U.S. investment firm QVIDTVM.
Swiss-based Nexxiot specialises in the digitization of non-powered cargo transport assets so as to increase their trackability, control, safety and security. The company says its goal is to enable a 5% reduction in global CO2 cargo emissions by increasing cargo transport efficiency and eliminating waste caused by empty runs and inefficient routes.
Commenting on the news, Stefan Kalmund, CEO of Nexxiot, hailed QVIDTVM for its role in securing the investment:
We are pleased to partner with QVIDTVM who bring great experience in tech, innovation and disruption. This financing will fuel our growth, further improve our technology to create client success and push ahead with our North America expansion. Through this partnership, we will maintain our lead and continue to offer our clients best-in-class technology, services and ideas.
Meanwhile, Max Raskin, a partner of QVIDTVM, expressed confidence in Nexxiot’s innovative strength:
We invest in companies with technologies and business models that have the potential to revolutionize markets. Nexxiot has created a unique solution to an important problem. We are convinced of the company’s innovative strength and see the digitization of large logistics fleets as a powerful means of making supply chains more robust and efficient.
In just five years, Nexxiot has become one of the largest rail freight and tank container IoT providers, operating in more than 160 countries.
The company strongly believes in an open ecosystem with a background in cutting-edge technology where easy integration of sensors and third-party devices comes as standard. In Nexxiot’s eyes, an open ecosystem means clients can be sure their choices are supported, and interoperability is guaranteed.
Nexxiot took an early lead in the digitalization of the railcars and other non-powered industrial assets like intermodal and tank containers. It is optimizing business processes in a $1 trillion industry and strives to increase transparency and accountability in international supply chains.
The company boasts significant experience with both hardware and data analytics and has been working with more than 1.2 billion Big Data points per month processed on its intelligent logistics Cloud.
I am really happy to say that Nexxiot has completed a $25M Funding Round led by U.S. Investor QVIDTVM. We will take this opportunity to continue Nexxiot’s global expansion through North America. It’s an exciting moment for the market as it demonstrates the value to be found in new and unique Big Data and AI for the supply chain.
Photo credit: Nexxiot