Dutch Startup Route42 raises funds for international expansion
Route42, a Dutch Startup that has embraced smart data in assisting logistics become more efficient and save money has raised €700,000 from BOM Brabant Ventures and Peak Capital.
With this financing, Route42 wants to accelerate the development of the transport intelligence platform. In addition, the company will use the investment to set up an international sales organization and thus become the data intelligence platform of Europe.
During the current corona crisis, Europe rightly regarded the transport sector as a vital sector. In 2019 it generated more than € 5 billion in turnover. In Europe alone, five million people work in this sector. Despite the crucial role of the transport sector, margins are very low, usually around 1-2%. Fuel wastage, damage or inefficiency in the operational process can depress or even eliminate the profit of a logistics company. With its transport intelligence platform, Route42 tackles precisely these pain points in the logistics sector, and has therefore grown rapidly in recent years.
Max den Dopper, Director, Route42: “Since the launch of our product four years ago, we have doubled our customer base every year. 1 in 10 Dutch trucks is now equipped with our transport intelligence solutions. We are extremely proud that under the current challenging market conditions, we have closed the new financing round with two leading Dutch VCs BOM Brabant Ventures and Peak Capital . With the funding we can further our ambition to fulfill as leader in data-driven motion, so h ét become Europe's transport intelligence platform. The funds are used to strengthen our development team and increase the number of customer integrations, making the acceptance of the platform complete. We will also be rolling out Route42 internationally. ”
Robin Franken, Investment Manager, Brabant Ventures; “As an investor with a focus on the province of North Brabant, Route42 has not gone unnoticed. The Breda startup is a leading company that offers smart and intelligent solutions to its customers through data. In this way, impact is realized on the social and financial axis. Because of this growth accelerator, we are confident that the ambitions will be realized. ”
Jacqueline van den Ende, Partner, Peak Capital: “At Peak Capital, we are excited to continue our previous investment in Route42. Apart from our strong belief in the team, we have a strong belief in the market and the Route42 solution. The transport market in Europe is huge and every carrier demands data-driven solutions to optimize their margins. We are delighted to help Route42 strengthen its position as Europe's leading transport intelligence platform. ”
Route42 offers a transport intelligence platform that leads to safer driving behavior, cost savings and more sustainable driving, as well as general efficiency improvements for fleet managers.
Route42's software is a plug & play solution that can be connected to any existing on-board computer system. The main product features are fuel consumption analysis, a driver coaching module that leads to safer, more sustainable and cost-efficient driving, and waiting and track and trace options for both trucks and trailers. These solutions help fleet managers to drastically improve their margins.