Tech Square Ventures leads investment in cartonization platform, Paccurate

Tech Square Ventures leads investment in cartonization platform, Paccurate

Published: 15-08-2023 10:43:00 | By: Pie Kamau | hits: 4405 | Tags:

Paccurate, the cartonization platform for shipping and fulfillment optimization, announced the closing of $3.5 million round led by Tech Square Ventures, an early-stage investment firm. TSV was joined by Las Olas Venture Capital and Royal Street Ventures, with significant participation from existing investors SpringTime Ventures, Grand Ventures, FirstMile Ventures, and Cannell Venture Partners. The funding will continue to drive Paccurate's expansion and development of their solution.

Vasant Kamath, General Partner, Tech Square Ventures: "We are excited to invest in Paccurate, to bring true spatial optimization to the supply chain and logistics sector. The Paccurate team has built an incredible solution that delivers significant strategic value, paired with a compelling vision for the future of shipping. We are delighted to support James and Pat and help drive the growth of the business."

Paccurate's patented technology suggests the optimal packing methodology for every shipment, reducing waste, reducing costs and item damage for shippers of all sizes. Unlike legacy solutions that only utilize 3D simulation and limited variables, Paccurate accounts for critical external factors like labor, material and complex carrier rates to create a truly cost-optimal packing solution. With a lightweight API, Paccurate is an easy drop-in upgrade to existing systems, supplying users with dynamic, real-time suggestions in a short time.

The company optimizes more than 1 million shipments per month and has helped customers save millions of dollars in shipping, cardboard and filler costs. Paccurate's technology is not only a powerful cost-saving solution, but also a tangible way for companies to reach their ESG goals, helping businesses cut SCOPE-3 emissions by over 15%.

Jerry Spence, Senior Director of Engineering and Planning, Crate and Barrel: "Partnering with Paccurate has enabled our organization to remain focused on our sustainability goals while managing box utilization, damage reduction and shipping costs. Their software ensures we are using the right box every time and our associates can quickly see how a box should be packed, which increases throughput and lowers our costs."

James Malley, Co-founder and CEO, Paccurate: "With the support of Tech Square Ventures, we are excited to accelerate delivery of a powerful savings and sustainability solution to the market. This funding will accelerate our expansion to meet increasing demand for optimization and allows us to further develop our technology to deliver deeper insights and value for our customers."