7bridges, an AI-powered automation engine for businesses logistics and supply chains, has launched with a $3.4m seed round led by Crane Venture Partners and LocalGlobe.
The company said its tech has proved invaluable for businesses reacting to COVID-19, with the platform enabling fulfilment to continue despite warehouse shutdowns.
7bridges provides tools to enable businesses to control and optimise their logistics, including auditing costs, document creation, performance analysis and procurement.
The AI-powered platform also attempts to continuously suggest optimal logistics strategies by simulating and predicting the impact of changes in the supply chain.
Scott Sage, partner at Crane Venture Partners, said, “Like many other industries, from banking to construction, supply chains are becoming rapidly digitised across the economy. This creates an incredibly important opportunity for disruption.
“We’re always on the lookout for passionate founders who have experienced the problem they’re working to fix, and are proud to be working alongside the 7bridges team – there’s no substitute for their level of expertise.”
Philip Ashton, co-founder and CEO of 7bridges, added, “Customer expectations of deliveries have fundamentally shifted over the past few years, in terms of both speed and sustainability.
“While this dramatically increases the costs and complexity of the logistics category, it has created an opportunity to gain an enormous competitive advantage.”
Crane, which focuses on intelligent enterprise startups, closed its first institutional fund on $90m last year to target seed deals in Europe.
LPs committed to Fund I included British Patient Capital and MassMutual Life, through its venture arm MassMutual Ventures, the firm said.
The vehicle has been targeting data and machine intelligence startups in the pre-Series A segment.
Crane was launched in 2015 by Scott Sage and Krishna Visvanathan, who had previously worked together at DFJ Esprit backing companies including Trustpilot, Icera and Onfido.
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