The Daily Startup: Freightos Collects $14 Million for Shipping-Price Quotes
Freightos has raised $14 million in Series B funding for its service for companies that organize the shipments of goods around the world, known as freight forwarders, to allow them to quickly issue quotes to customers, Yuliya Chernova reports for Dow Jones VentureWire. New investors MSR Capital and Sadara Ventures participated in the Series B round of investment along with existing investors, Aleph VC, Israel Cleantech Ventures, OurCrowd, which is a crowdfunding platform, and Annox Capital.
Freightos, which is incorporated as Tradeos Ltd., is one of several startups that are looking to modernize the shipping industry. The Wall Street Journal previously reported that since the start of 2104 venture capital firms have invested more than $1 billion in freight-forwarding companies. That amount is more than double the amount invested in the five years before that.