- Hearst Ventures, Signal Ventures, and existing owners participated in the round
- Funding will promote product innovation, help growth into APAc area &, Europe
Portcast, the Singapore-based provider of real-time transportation visibility and predictive analytics, has announced that it has raised US$ 6.5 million ( RM29 million ) in a Series A funding round. The round was led by Susquehanna Asia VC, with participation from Hearst Ventures, Signal Ventures, and existing buyers, including Wavemaker Partners, TMV, and Innoport.
In a statement, the business said the new money would promote product development, especially in harnessing conceptual AI to enhance chance management, transport planning, and invoice auditing capabilities. Additionally, it intends to strengthen integrations with technologies partners while expanding its reach in important markets in the Asia-Pacific region and Europe. According to Portcast, the company is well-positioned to fulfill its goal of improving the resilience of international trade through actionable data.
In addition, the business continued to invest in artificial intelligence ( AI ) technology to protect its clients ‘ profitability in the face of increasingly fragile global supply chains and increased disruption.
Portcast provides strategic administration with justifiable justifications and recommends alternative strategies to help shipping companies and logistics companies increase their productivity, operating costs, and carbon emissions in the transportation industry. The agency’s data system integrates data from carriers, terminals, location and risk data, and custom documents to give accurate visibility through a single, easy-to-integrate API and website. The business uses machine learning and advanced large-language models to provide meaningful insights to improve supply chain operational and financial transparency.
Nidhi Gupta ( pic ), founder and CEO of Portcast, said:” Supply chain disruptions have become the norm, driving up costs for shippers and logistics service providers globally. The concern now is to push actions from visibility data through integrated recommendations, which is no longer sufficient to screen shipments. In order to reduce freight costs and enhance user experience, we are committed to creating a product that not even discovers risks in transportation but, more importantly, immediately suggests measures to reduce these costs.
The support from both existing and new traders is a bible to the customer fulfillment we’ve achieved and the trust in our strategy in today’s tough economic environment. Looking back, we are eager to expand in the Asia-Pacific area and Europe, strengthening partnerships to take our answers to even more firms”, she added.
In addition, Susquehanna Asia VC’s Richard Hsu stated that Portcast has used both amazing and open data to provide reliable and explicable transportation visibility. However, what sets them apart is their ability to transform that information into useful, practical insights for their clients, setting a new standard in shipping decision-making. With its unique data-driven approach, Portcast has the potential to address additional challenges in global trade. Not only are we excited about what Portcast has already accomplished.