AI logistics platform Raft secures further funding

Image source: Pixels Hunter/ Shutterstock

Online logistics automation platform Raft has raised $30m to be used to develop new services and solutions.

The series B funding round was led by global VC investor Eight Roads with participation from existing investors Bessemer Venture Partners, Episode 1, and Dynamo Ventures, as well as Moguntia Capital.

The capital infusion will be used to develop and deploy automation products, improve data collaboration — including emissions and visibility data — and extend Raft’s market reach.

James Coombes, chief executive and co-founder, said: “We’ve always been clear about focusing on specific parts of the shipment lifecycle where automation has the highest return on investment.

“We recognised early on the pain points around accounts payable reconciliation and customs entry preparation, and we’ve since grown the product to help automate areas such as warehousing, booking confirmations, and more.

“We quickly understood that our customers don’t want separate solutions for each of these areas, they want one AI-platform that offers best-in-class automation across the length and breadth of their business.”

Raft helps forwarders apply AI to their data operations and customer interactions.

Raft appoints Asia Pacific sales talent

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Damian Brett

Damian Brett
I have been writing about the freight and logistics industry since 2007 when I joined International Freighting Weekly to cover the shipping sector. After a stint in PR, I have gone on to work for Containerisation International and Lloyds List - where I was editor of container shipping - before joining Air Cargo News in 2015. Contact me on [email protected]