Terminal49 secures $6.5m Series A to power ocean freight visibility and automation

Terminal49 secures $6.5m Series A to power ocean freight visibility and automation

Published: 24-01-2023 13:13:00 | By: Pie Kamau | hits: 106 | Tags:

Terminal49, the ocean freight visibility platform, announced it has secured $6.5 million in Series A funding led by Stage 2 Capital and co-lead by Grand Venture Partners, with follow-on participation from seed stage investors leading to a total funding of $8.7 million.

Dan Heck, Partner, Stage 2 Capital and Board Member, Terminal49: "We are excited to support Akshay and Terminal49 on their journey to automate global trade. They have built a product that customers value, and that hundreds of organizations rely on to manage ever-increasing complexity and costs within their global supply chains."

Automating container tracking

Terminal49's API pulls in real-time ocean shipment and container data from shipping lines and terminals, standardizing the data into a centralized and searchable dashboard. The data is also accessible via a push-based API. Rather than searching across dozens of websites and manually managing container milestones in spreadsheets, Terminal49 customers have instant access to up-to-date container statuses, helping them more quickly identify containers at risk and make cost-saving decisions faster.

Parul Singh, Partner, Initialized Capital: "Our global supply chain systems are antiquated and their inefficiencies play out on a grand scale. We invested in Terminal49 because of the opportunity and need to transform global trade to work better, especially in economic times like these."

Terminal49 is tracking over a million containers for hundreds of customers worldwide including Wayfair, Hillebrand, and Mazda USA. Customers rely on Terminal49's dashboard and API data to track, manage, and optimize ocean freight operations, saving them hundreds of hours (each week) in manual tracking and thousands of dollars in demurrage and per-diem fees.

Eliminating thousands in fees

Spencer Strader, Co-founder and CEO, Trade XCelerators: "Terminal49 has made our team more efficient and productive. We now have access to accurate ocean freight information in one place, which lets us proactively share reliable information with our customers and vendors. Terminal49's automation has saved us thousands of dollars a year, but more importantly it's helped improve customer trust."

Covering 98% of all ocean freight traffic

Terminal49 integrates with every major ocean carrier and all US and Canadian terminals, and recently added Southampton and London Gateway terminals. The data collected from these integrations covers 98% of all global ocean freight and container traffic.

Aksha Dodeja, Founder and CEO, Terminal49: "We're thrilled to have Stage 2 Capital and Grand Venture Partners on this journey with us to improve global trade visibility and automation. 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."

www.terminal49.com