News Details :
News Details:
Headline : Germany,United States : DB SCHENKER facilitated online shipping marketplace USHIP raise $25M in Series D funding
Summary : The US-based digital shipping market platform uShip has made an announcement on its successful completion of Series D fundraising round worth $25 million.

The company has raised the funds under the leadership of its existing partner Germany-based global logistics giant DB Schenker.

DB Schenker has made the investment at a time when the logistics and supply chain technology sector has been receiving record amount of funding. The leading global pure-play logistics firms since the year 2015 have completed 26 investments and/or acquisitions, representing an encouraging yearly figure of 13. The logistics tech startups, on the other hand, have secured more than 300 deals last year worth $5B.

So far uShip, an online shipping marketplace and freight automation software provider, has secured $50 million in total. Benchmark Capital led the company raise funds on two occasions in 2005 and 2007, while DAG Ventures and Kleiner Perkins Caufield Byers took the lead role in 2007 and 2013 respectively.

DB Schenker in July 2016 announced a significant five-year multi-million-dollar worth of agreement with uShip to develop Drive4Schenker.

Drive4Schenker, a digital trucking platform, is powered by uShips business freight automation technology - uShip PRO. The platform has been rolled out in early February in the German market, with strategy to carry out pan-European launch.

The Drive4Schenker is capable of optimizing supervision of 5,000 loads on a daily basis with 30,000 transport providers under the DB Schenker network.

The Schenker AG CEO Jochen Thewes revealed, Expanding our successful partnership will expedite and streamline transport management and help us, as a market leader in European land transport, to handle even larger volumes of freight.

Thewes added, We also intend to quickly develop and tap new opportunities to grow outside of our traditional business models.

On the companys strategy after receipt of new funding, uShip has revealed that it wants to utilize the money to speed up its logistics software platform development for major business sectors, comprising high-volume enterprise shippers as well as small and midsize businesses (SMB) shipping less-than-truckload (LTL) freight.

The uShip CEO Mike Williams disclosed, Major players like DB Schenker are taking advantage of technology that will automate and digitize their operations, helping them maintain market leadership and evolve with demand.

Williams added, Its a thrilling time to be at the leading edge of this logistics transformation and to deepen our partnership through DB Schenkers strategic investment.