Terminal49, a San Francisco, CA-based ocean freight visibility platform, announced that it secured $6.5 million in Series A funding to power ocean freight visibility and automation.
The round was co-led by Stage 2 Capital and Grand Venture Partners, with participation from seed stage investors, bringing Terminal49's total funding to $8.7 million.
"We're thrilled to have Stage 2 Capital and Grand Venture Partners on this journey with us to improve global trade visibility and automation," said Aksha Dodeja, founder and CEO of Terminal49. "We've solved a cumbersome and unreliable process for companies who need to track ocean freight traffic by standardizing data and making it accessible through a single view. But that's just the beginning. With our recent round of funding, we're one step closer to automating the tedious work behind global trade."
Terminal49's API pulls real-time ocean shipment and container data from shipping lines and terminals, standardizing the data into a centralized and searchable dashboard.
Its customers have instant access to up-to-date container statuses, helping them more quickly identify containers at risk and make cost-saving decisions faster.
The company is tracking over a million containers for hundreds of customers worldwide, including Wayfair, Hillebrand, and Mazda USA.
Company: Terminal 49, Inc.
Raised: $6.5M
Round: Series A
Funding Month: January 2023
Lead Investors: Stage 2 Capital and Grand Venture Partners
Additional Investors:
Company Website: https://www.terminal49.com/
Software Category: Shipment and Container Tracking
About the Company: Founded in 2015 by Akshay Dodeja and Philipp Gutheim, Terminal49 is an all-in-one shipment and container tracking platform that streamlines and automates container tracking tasks to save hours of labor, expedite containers, and prevent unnecessary demurrage and per diem charges. Terminal49 works with importing and exporting businesses to help them move shipping containers from the port to the warehouse in a less expensive and less cumbersome way. With its online platform, it automates many manual tasks, reduces expensive human errors, and brings visibility into its customers' supply chains. The company’s mission is to simplify and automate global trade.
Source: https://www.prnewswire.com/news-releases/terminal49-secures-6-5m-series-a-to-power-ocean-freight-visibility-and-automation-301725978.html