AllRead, a Barcelona, Spain-based startup that provides artificial vision software to the shipping and logistics industry, closed a €2.5 million pre-series A funding round to expand its European and Latin American markets.
The round was backed by the Tech Transfer Agrifood Fund (TTAF), led by venture capital firm Clave Capital and Decelera Ventures, the Puertos del Estado 4.0 public fund, CDTI, and several business angels. DWF-Rousaud Costas Duran has been involved in the transaction as a legal advisor.
The Government of Catalonia also supported AllRead through the ACCIÓ program and the Spanish Ministry of Science and Innovation.
Since its launch in 2019, AllRead has entered ten countries in Europe and Latin America, improving asset traceability at more than 30 seaports and maritime terminal operators.
The company software, used in the shipping and logistics industry, connects to any fixed, mobile, or drone camera to detect and identify assets circulating on the platform, such as freight containers, wagons, security seals, license plates, dangerous goods, and so on.
Company: AllRead Machine Learning Technologies S.L.
Raised: €2.5M
Round: pre-Series A
Funding Month: November 2022
Lead Investors: Clave Capital, Decelera Ventures, Puertos del Estado 4.0 public fund, and CDTI
Additional Investors:
Company Website: https://www.allread.ai/
Software Category: AI-based Optical Character Recognition Software
About the Company: Founded in 2019 by Miguel Silva-Constenla, Adriaan Landman, and Marçal Rossinyol, AllRead is a software company that develops intelligent computer vision software for seaports and terminal operators. The software optimizes traceability, security, and monitoring of goods and vehicles in intermodal environments through an accurate, cost-effective, and easy-to-install solution for any fixed camera, mobile device, or drone. AllRead focuses on the logistics, utilities, and manufacturing sectors and is commercialized through a Software-as-a-Service and a software development kit that can run directly on mobile devices. AllRead has 26 people on a team.
Source: https://www.allread.ai/en/allread-raises-25-million-pre-series-a-funding-round/