Volvo Group Venture Capital has invested in FourKites, a global real-time transportation visibility platform.
FourKites pioneered real-time supply chain visibility in 2014 and has since built the claimed world's largest platform that helps leading brands to reduce their operating costs, improve on-time performance and create better customer relationships. The company tracks over 1m shipments daily across 176 countries, with over 120% year-over-year growth.
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By GlobalData"We see FourKites as a valuable partner in our discussions on developing new services because of their strong real-time visibility capabilities," said Dan Tram, investment director at Volvo Group Venture Capital. "We think that supply chain visibility will become an industry standard and believe that customers will expect it in new supply chain products. FourKites is well-positioned to provide these capabilities with their 450,000 connected carriers across different modes."
"This will help to accelerate our growth and enable us to bring new innovative solutions to market," said Mathew Elenjickal, founder and CEO of FourKites.
The role of Volvo Group Venture Capital is to make investments that drive transformation by facilitating the creation of new services and solutions and to support collaborations between start-ups and the Volvo Group.
Key areas of investment are currently logistics services, site solutions and electrical infrastructure. The organisation has a global scope but focuses on Europe and North America.
