Paris-based Shippeo, a SaaS platform that provides real-time transportation visibility, has raised $ 32M (approx €26.3M) in a fresh round of funding. The round is co-led by Battery Ventures, (a technology-focused investment firm) and existing investors, including NGP Capital, ETF Partners, Partech, and Bpifrance Digital Venture.
Use of the funds
Shippeo will use the current investment to strengthen its position in the market and continue to deliver product innovation.
Speaking on the development, founders Pierre Khoury and Lucien Besse of Shippeo, said, “Battery Ventures, founded in 1983, has a long track record of investing in prominent SaaS businesses in the US and Europe and partnering with management teams to help them grow their businesses smartly. With Battery’s industrial reach and strong experience in the technology sector, Shippeo will carry out its main objectives: strengthening its leading position in Europe and boosting its edge over its competitors.”
The company was founded in 2014 by Pierre Khoury, Lucien Besse, David Barre, Jean-Bastien Dussart, Brice Hua, and Thibaut Morlot.
Shippeo aims to build a data platform for the freight industry, by leveraging its growing network, real-time data, and AI to help supply chains deliver exceptional customer service and achieve operational excellence.
The company’s software-as-a-service (SaaS) platform offers an API that integrates transportation management systems as well as telematics products, ERP, and electronic logging device technology, among other data sources. This provides real-time location data, delivery tracking, and a proprietary algorithm to calculate a shipment’s Estimated Time of Arrival (ETA).
Shippeo claims to have tracked more than 140,000 deliveries per month throughout Europe for companies such as Leroy Merlin, Saint-Gobain, and Faurecia.
Solving the pain-point of the freight industry
Due to the Covid-19 scenario, the need for supply-chain visibility has been increasing more than ever. With many countries in lockdown and with unpredictable border closures, companies with advanced visibility solutions have managed to reduce the transport delays and operational inefficiencies.
Beyond tracking shipments, visibility platforms now give supply chains the data-driven transparency to meet various customer demands in uncertain and challenging market conditions.
And supposedly, this is where Shippeo stepped in and claims to have more than doubled its subscription revenues year on year.
Companies using Shippeo’s platform can now identify every pain point and inefficiency end-to-end across their global logistics operations and take action to optimise their processes. This results in lower transportation costs, increased customer satisfaction, and more sustainable operations.
Just last October, Shippeo acquired the French company oPhone, bringing major customers in the retail and manufacturing sectors in its community. And now, the company’s total workforce has more than doubled, totaling 160 employees, of which 45% work in R&D.
In February 2020, Shippeo raised €20M in its Series B round led by NGP Capital and ETF Partners, with participation from Bpifrance Digital Ventures and Partech.
Prior to that, the company has raised €10M (2017) in Series A round from Otium Capital and Partech. In 2016, it raised €2M in its Seed round from Otium Capital, and in 2015 it raised its pre-Seed round funding of €90K.
Waste, internal theft, and preventable supplier and admin errors cost businesses money every year. Unfortunately, catching these hidden losses can be difficult. You can track your business by using excel sheets or writing everything down on paper, but this can be tedious and still leaves plenty of room for error. That’s where Growyze comes in.
Growyze is a mobile-friendly tool that helps bars, pubs and cafes reduce admin, paperwork, waste and profit loss. Using advanced technology for fast and easy back-of-office management, the app lets staff and management get back to focusing on what matters most: serving customers and growing sales. From orders to deliveries to inventory and more, Growyze streamlines business operations and makes important information easily accessible any time, anywhere.
By managing important information through the app, businesses can reduce paperwork, repetitive tasks and excessive waste, saving time and money. Growyze also helps businesses streamline their operations and work more efficiently by digitizing task assignments, automating stock management, and letting people easily managing other areas of the business all in one convenient location. Growyze also offers valuable insights so users can make better decisions based on real data.
Growyze includes a variety of features to helps bars, pubs, cafes, restaurants and shops save time and money.
Growyze allows users to conveniently store and access all of their suppliers’ information in one place.
Users can digitally manage their purchases and place new orders quickly and easily. There’s no need for lengthy phone calls.
Tracking inventory is easy with Growyze. Instead of using spreadsheets, management can take a picture of the item and enter the quantity in the app. Stock levels can then be checked at any time.
Growyze replaces paper filing with digital paperwork, allowing users to manage their orders, deliveries and invoices in the app. You can even take pictures of delivery notes.
Three-way validation makes it easier to catch financial discrepancies between orders, deliveries and invoices and deal with them in a timely manner.
Growyze helps you reduce waste by offering increased visibility to your business’s waste.
When you import your sales data, Growyze provides insights to help you identify and eliminate fraud, protect your bottom line, respond to business challenges, and grow your business.
Growyze sends instant alerts to help you stay aware of any issues, such as discrepancies between deliveries and orders, low stock levels and more.
With the help of AI technology, the app provides real-time data around business performance and stock updates to help you stay informed.
Growyze is also planning to add a feature that lets people file their recipes in a digital library that their staff can access at any time from any location.
Managing a business can be rewarding, but it does have its challenges. With Growyze, you can more easily catch hidden losses, manage orders and inventory, and work more efficiently, so you can spend less time on back-of-office management and more time serving customers. Interested? Visit growyze.com to learn more.
License from FSA
The company has obtained an investment firm licence from the Estonian Financial Supervision Authority (FSA). As per reports, it has currently paused its European service until 4th January for a transition period. However, companies outside the EEA region will continue to be served either by Funderbeam Markets Ltd (UK) or Funderbeam Markets Pte Ltd (Singapore), the firm said.
According to the founder and CEO of Funderbeam, Kaidi Ruusalepp, “As most of our present business is in the EEA, we needed an appropriate licence to continue operations in the region following the end of the Brexit transition period. After having analysed several potential jurisdictions, Funderbeam chose to apply for a licence in Estonia, which is known for its digital-focused culture and innovative mindset.”
“The process took the form of a highly constructive dialogue, with an open mindset, matching Estonia’s reputation as a highly progressive digital society,” adds Ruusalepp.
Everything about Funderbeam
Funderbeam was founded in 2013 and is led by Kaidi Ruusalepp, a former CEO of Nasdaq Tallinn Stock Exchange and Central Securities Depository.
The global funding and trading platform works with the mission to shake up traditional models of funding and trading of private companies. It claims to connect a diverse investor network with highly vetted growth companies across international markets and, through its Marketplace, allows private investments to be traded.
Funderbeam Marketplace offers live and direct auto-match trading, allowing buyers and sellers to interact 24/7, 365 days a year without the need for brokers or other third parties.
The company serves investors from 134 countries and companies from Europe and Asia. To date, it has traded more than $ 8M (approx €6.5M) worth of investments on its exchange and exceeded the monthly trading volume of €1M in November, claims the company.
Funderbeam has offices in London, Singapore, Copenhagen, Tallinn and Zagreb.
Modularbank, the next-generation core banking platform today announced its €4 million round of late seed funding led by Karma Ventures and BlackFin Capital Partners, with additional support from Plug and Play Ventures, Siena Capital and angel investor Ott Kaukver (ex-CTO of Twilio and Skype). The backing from this powerful combination of investors paves the way…
The post Estonian fintech startup Modularbank nabs €4 million to expand operations in the UK and Europe first appeared on EU-Startups.
Traditionally, startups and small to mid-sized businesses haven’t formed security operations centers (SOCs). Yet many cyber threats are happening on a daily basis to organizations of all sizes. Consequently, plenty of leaders have begun looking into the possibility of adding an internal SOC or partnering with an SOC-as-a-service provider.
To be sure, this isn’t a fast decision; it requires consideration. SOCs cost money to staff and maintain. Even outsourcing an SOC will require an annual budgetary commitment. And the SOC team, whether in-house or outsourced, will need to work seamlessly with current staffers.
Despite these monetary concerns, many companies feel that the risks imposed by vulnerability far outweigh any temporary SOC creation hurdles. After all, the average data breach costs organizations more than $ 3.8 million. In other words, an SOC can quickly pay for itself.
Are you interested in closing cyber security gaps with an SOC but unsure if the timing is right to proceed? If you’re experiencing any of the following indicators, you’ll want to move forward with SOC plans sooner rather than later.
1. Your team is constantly targeted by cyber attackers.
Phishing attempts. Malware. Ransomware. Hackers aren’t holding back on their creativity in trying to get into your systems any way they can. In fact, you may only know about a few bigger attacks. Smaller ones may have breached your firewalls or infected your systems without detection, causing operational issues if not a full-blown security risk.
Statistics show that more than 7,000 breaches happened in 2019 alone; they’re the ones we know about, not the 53% of ones we don’t. Sure, you can install software and hope it slows down intruders. However, without a dedicated SOC made up of professional analysts and tech-savvy engineers, you’ll remain vulnerable. On the other hand, SOC personnel will be able to keep your company a step ahead with proactive, not just reactive, responses.
2. Your company’s taking too long to respond to threats.
Do you continuously find out about cyber attacks too long after they happen to do anything? This is more than frustrating; it puts your operations at risk again and again. It can also lead to a major data breach of your proprietary data or private customer information.
SOCs know that hackers and attackers count on businesses being slow on the draw, with the average breach taking nearly 300 days to address. Delays give criminals time to get in, get desired data, and leave without being shut down. When you have an SOC in place, your SOC experts can mobilize efforts from a centralized point. Expect your SOC team to lean on historical cyber attack clues and digital “fingerprints” to quickly tamp down on events in real time.
3. You have moved into the e-commerce sector.
Amid concerns over doing business the traditional way during the pandemic, many businesses have begun to dabble in e-commerce. While e-commerce platforms can make selling products and even services more convenient, they can also open doors for data breaches and related issues.
An SOC will be able to consider all the ways attackers might try to invade or exploit your e-commerce platform to steal data. Knowing that your site is monitored 24/7 will help lessen worries that you’ll wake up in the morning to bad news. Remember: Consumers love e-commerce, but they don’t love it when their identities have been stolen.
4. Your people are telecommuting all or most of the time.
Many people now work from home and the trend is expected to continue into 2021. From a logistical standpoint, remote work can be a cost-effective way to keep operations humming along. Nevertheless, remote working cloud-based systems and platforms may suffer from vulnerabilities.
What’s the answer to this problem? Your SOC and IT teams can work in tandem. Together, they’ll reduce the chances of cyber attacks on your telecommuting employees, amassing logs of incidents and responses. Over time, your company should be able to sidestep foreseeable issues thanks to proactivity from the SOC.
5. You’ve managed cybersecurity in a piecemeal way.
When your organization was in its infancy, you may have assigned cybersecurity duties to one or two people. Over time, those people may have kept those initial responsibilities and added to them. Yet that doesn’t mean you have an actual SOC. Instead, you have parts of an SOC, but not the complete SOC advantage.
A true SOC includes people whose only job is to focus on cybersecurity. They’re not engaged in cybersecurity some of the time—their commitment is devoted to protecting your network and systems from attacks. Now, this isn’t to say that some employees currently involved in cybersecurity won’t be interested in moving to an SOC role. They might. But you need to establish the SOC team first.
6. You’re handling customer needs 24/7.
Consumers appreciate being able to engage with preferred brands 24/7. Though that’s terrific for business, it opens the door for cyber threats to happen during “off” hours.
SOCs can work round-the-clock. For instance, you may have a large enough company to require SOC employees to stagger themselves with shift work. Or, you may use an SOC-as-a-service provider to enable 24/7 monitoring. Either way, you’ll reduce the chances of being surprised by a breach attempt that happens overnight.
7. You would like to attract more high-quality talent.
The most talented job seekers are looking for companies that have stellar reputations and leverage modern processes and equipment. What better way to show top-notch candidates that you take risk management seriously than to tout your SOC?
Talk about your commitment to forming an SOC during interviews, and explain how it benefits everyone in the workforce. You’ll come across as leading edge and high-tech. Who knows? This could be the key differentiator that makes a strong applicant say “yes” to your offer over one from your competitor.
At the end of the day, don’t think about SOC as a burden on your budget. Rather, look at SOCs as a viable way to save money by protecting your brand, employees, and customers from cyber threats and their fallout.
Drone deliveries have always been touted as the fastest way of delivering goods to customers compared to other methods. Automated drone delivery has the potential to transform multiple industries, from healthcare to the food and beverage sector. Not only can drones deliver instantaneously, but they also reduce shipping costs on an average.
At present, many startups are developing this technology, and some are even leading the movement. Based out of California, Matternet is one such startup that has developed a technology for on-demand, aerial delivery in urban environments.
Matternet comes to Germany
The US drone delivery company recently launched its operation at Labor Berlin Charité Vivantes in Germany. The program kicked-off November 17, 2020, with permanent operations expected to take flight next year, creating the first urban BVLOS medical drone delivery network in the European Union.
According to Matternet, it aims to improve the timeliness and efficiency of Labor Berlin’s diagnostics services, which will improve the patient experience with potentially life-saving benefits and lower costs.
What is Labor Berlin?
Labor Berlin is Europe’s largest hospital laboratory with facilities in 13 hospitals across the city. It is responsible for diagnostics for 80% of patient beds in Berlin.
Nina Beikert, Managing Director of Labor Berlin, says, “Reducing diagnostic lead times can greatly improve patient outcomes and experiences. Matternet’s drone delivery network will be not only able to transport patient samples from hospitals to Labor Berlin facilities up to 70% quicker, but also reduce vehicular traffic and emissions in Berlin’s urban core.”
Currently, over 15,000 samples are transported daily across Labor Berlin’s extensive network. With Matternet’s drone delivery, Labor Berlin’s has the potential to serve millions of patients each year.
The network will connect three locations initially: Labor Berlin’s central lab on Charité Campus Virchow-Klinikum, the Charité Hospital Campus Benjamin Franklin, and the Corona Clinic by Vivantes – Corona-Behandlungszentrum Jafféstraße.
During the initial phase, both the organisation will work to determine optimal ways to integrate drone delivery into the laboratory group’s existing workflow. The US company is said to work with the Air Navigation Service Provider in Germany and UTM providers to integrate the drones safely into Berlin’s airspace.
Founded by Andreas Raptopoulos, Arturo Pelayo, Dimitar Pachov, and Paola Santana in 2011, Matternet provides ‘platform-as-a-service’ (PaaS) to healthcare and logistics organisations. Back in March 2017, Matternet became the first company to be authorised for commercial BVLOS operations of drone logistics networks over cities in Switzerland. To date, Matternet technology has enabled 10,000+ commercial revenue drone flights.
Funding and investors
To date, Matternet has raised $ 31.1M (approx €26.1M) in five rounds from various investors including McKesson Ventures, Boeing HorizonX Ventures, Daimler, and others. The company is headquartered in Mountain View, California.
Main image credits: Matternet