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Slync.io raises $11 million series A funding round amid COVID-19 chaos

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Slync.io raises $11 million series A funding round amid COVID-19 chaos. Image: Flickr/ EpicTop10.com
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Slync.io, the first purpose-built operating system for global logistics, announced that it has secured an $11 million series A funding round. The new funds will support hiring and growth as the company continues to expand its user base across six continents. This investment round is led by Blumberg Capital, with participation from Correlation Ventures and existing investors including 235 Capital Partners.

Slync.io is unique as a multi-modal end-to-end platform with an AI engine for managing and orchestrating global supply chain and logistics operations with ease. Traditional supply chain management software is a highly-fragmented industry with legacy products addressing single transportation modes or disjointed segments.

Slync.io’s Logistics Orchestration™ product makes real-time data actionable, going beyond predictive visibility to achieve a new level of connectivity and responsiveness for multiple logistics partners to collaborate effectively. Three of the top five freight forwarders in the world including Kuehne + Nagel, DHL and Expeditors are among industry leading global enterprises that Slync.io counts as customers.

Markus Johannsen, SVP Global Seafreight at Kuehne + Nagel was effusive. “Slync.io has a powerful and exciting product. I was happy to partner early with Chris and the Slync team and I am very happy with our results so far.”

“Now more than ever, maintaining global trade without disruption is crucial,” said Chris Kirchner, CEO, Chairman and co-founder of Slync.io. “We must keep the supply chain predictable and reliable. At Slync.io, our customers love the product, and in this chaotic time are expanding implementations so they can better adapt and manage the volatility we’re all experiencing due to outside, uncontrollable global trade variables, such as the COVID-19 outbreak.”

Slync.io’s flexible architecture allows it to be implemented in a wide array of use cases across the enterprise. From connecting a complex network of warehouses around the globe, end-to-end tracking of a shipment across multiple modes of transportation, order to delivery management, multi-enterprise logistics management, to being a single operating system for massive global logistics networks Slync.io has built a one-of-a-kind platform revolutionizing how operators move goods around the world.

“Slync.io is extraordinarily well positioned with multiple customer wins from global blue chip logistics players and shippers that have traditionally built their own software systems,” said David J. Blumberg, founder and managing partner, Blumberg Capital. “This indicates a tipping point in the industry where it’s becoming clear to many they must move from proprietary, legacy systems to API driven modern AI- powered systems. With the advent of the COVID-19 crisis we see Slync.io as part of the solution, not just in the short term, but for a more robust, global supply chain with flexible data visibility management and operational efficiencies in the long term.”

Founded in 2017, Slync.io’s team and early employees are enterprise software and artificial intelligence veterans with many coming from Salesforce. Slync.io’s unique API-first, metadata based platform connects multiple disparate systems, ingests structured and unstructured data, orchestrates resources and automates complex processes for collaboration between the many entities involved in global supply chain logistics networks.

“This financing is a testament to our amazing team, our innovative customers and the early investors of Slync believing in a vision to build the next iconic enterprise software company. The future is big for Slync.io and this new capital will help us support even more customers around the globe,” Kirchner concluded.

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Logistics & Supply Chain

Ryder establishes Baton, a Ryder Technology Lab, based in Silicon Valley

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Ryder establishes Baton, a Ryder Technology Lab, based in Silicon Valley. Image: Ryder
Ryder establishes Baton, a Ryder Technology Lab, based in Silicon Valley. Image: Ryder
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Ryder System, Inc., a leader in supply chain, dedicated transportation, and fleet management solutions, announces the establishment of Baton, A Ryder Technology Lab, based in Silicon Valley. Baton’s mission is to pioneer a suite of groundbreaking customer-facing technologies designed to revolutionize how Ryder’s customers interact with their transportation and supply chain networks. These technologies will digitize and optimize networks at a level not currently available in the industry and will prepare Ryder for the coming artificial intelligence wave.

“The establishment of a Silicon Valley-based technology lab is a natural evolution for Ryder, as we build on the $1.3 billion in strategic investments we’ve made over the past five years to develop, acquire, and invest in innovative technologies, products, and services that help make our customers’ logistics networks more efficient and resilient,” says Karen Jones, CMO and head of new product development for Ryder. “To build on that success, it’s paramount we continue to invest in recruiting the brightest technology minds out there and provide them with a startup environment where they have the space and freedom to create, along with the resources of a $12 billion company.”

Leading Ryder’s innovation lab are Andrew Berberick and Nate Robert, co-chief product and technology officers for Ryder. The two founded San Francisco-based startup Baton, which was known for the development of a proprietary logistics technology focused on optimizing transportation networks. Ryder initially invested in Baton’s Series A funding round and then acquired the startup last year.

“What piqued our interest in Ryder then, and what keeps us excited today, is the fact that it’s the only fully integrated port-to-door logistics provider in North America managing the complex supply chains of many of the world’s biggest and best-known brands. That gives Ryder tremendous perspective and reach, and as engineers, it provides us with the unique opportunity to tackle some of the largest and most daunting problems in the industry today, while preparing Ryder and its customers for the coming AI wave,” says Berberick.

Baton’s first challenge is to create a first-of-its-kind, AI-powered digital platform and optimization engine that facilitates a new, integrated approach to managing transportation networks for customers where seasonality and fluctuating demand inhibit the continuous use of resources.

“There is a massive amount of waste when supply chains do not communicate. We believe we can change that and bring deep transformation to an entire sector,” says Robert. “That’s why we’re now actively recruiting talented technologists from some of Silicon Valley’s most respected technology firms to help solve some of the most complex problems plaguing the nearly $2.5 trillion North American transportation and logistics industry. We’re looking for engineers excited by the challenge and who want the autonomy and nimbleness of a startup environment but with the power, reach, and stability of a highly respected industry titan.”

Berberick holds a bachelor’s and master’s degree from Stanford University and worked for Google, Accenture, and Mindtribe; Robert holds a bachelor’s degree from MIT and master’s degree from Stanford University and worked for BuildZoom and Bain & Company, prior to cofounding Baton. Other key members of the Baton technology lab bring experience from Apple, Meta, OpenAI, NASA Jet Propulsion Laboratory, Tesla, Loadsmart, Kinema Systems (acquired by Boston Dynamics), PlayStation, Zynga, and LinkedIn.

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Logistics & Supply Chain

Rail freight on track for record volumes at APM Terminals

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Rail freight on track for record volumes at APM Terminals. Image: APM Terminals
Rail freight on track for record volumes at APM Terminals. Image: APM Terminals
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Rail is acknowledged as the most fuel-efficient way to move freight over land, with a gallon of fuel stretching an average of 500 miles, according to the Association of American Railroads. In July this year the United States Environmental Protection Agency (EPA) endorsed the push for freight railroads, stating that the transport mode can play a key role in the solution to climate change.

That assessment is something that APM Terminals has been fully on board with for some time. We’re committed to raising the standards of responsibility by offering low or zero carbon solutions for customers and consumers through our decarbonisation efforts and increasing rail transport options.

Record loads in India

Take for example APM Terminals Pipavav, which has taken nearly 50,000 containers off the road to substantially reduce traffic congestion and pollution. Just last month the port handled 206 trains – the highest number this year so far, pulling significantly ahead of its previous loading record of 157 double stack trains in a month in 2020.

Carbon-conscious in the US

Pipavav is not an exception. A few months ago, our operations in Mobile Alabama announced a bumper $60 million rail expansion in response to demand from increasingly carbon-conscious customers.

According to EPA data, freight railroads account for just 0.5% of total US emissions and only 1.7% of transportation-related greenhouse gas emissions (GHG). Added to this, the Association of American Railroads (AAR) states: “Moving freight by rail instead of truck lowers GHG emissions by up to 75%, on average”.

Sustainability with speed

The benefits of rail extend even beyond important net zero targets, as APM Terminals Americas Head, Leo Huisman acknowledges: “Our customers are looking for expanded options for their supply chains so we are focusing on faster connections to rail providers into inland markets.” The APM Terminals Mobile rail facility will therefore enable faster rail loading and departures.

Eyes trained on the future

Customer demand for sustainable and fast transport in the US and India is mirrored in Europe, where our colleague Homam Mansour is keeping his sights on the future of intermodal transport in his role as Rail Planner in our Gothenburg terminal, Sweden. Under his watch, Gothenburg has set an ambition to never refuse extra trains. Says Mansour: “We kept this promise throughout 2022, receiving and handling 84 extra trains requested by our customers at short notice”.

The commitment to rail has seen the volume of containers transported by rail via APM Terminals Gothenburg increase by 13% this year compared to 2021. More than 55% of all goods now reach the port by rail.

At APM Terminals globally, we train our sights on customer-focused, environment-friendly, and speedy supply chain solutions, and those priorities will continue to gain momentum.

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Environment

Hapag-Lloyd partners with DB Schenker to decarbonise supply chains

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Hapag-Lloyd partners with DB Schenker to decarbonise supply chains. Image: Hapag-Lloyd
Hapag-Lloyd partners with DB Schenker to decarbonise supply chains. Image: Hapag-Lloyd
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Hapag-Lloyd has entered into a partnership with DB Schenker for the purpose of decarbonising supply chains. Following the launch of “Ship Green” in May, the renowned logistics provider has selected Hapag-Lloyd’s sustainable transport solution as part of its sustainability initiatives.

DB Schenker and Hapag-Lloyd have signed an agreement for emission-reduced container transports with a waste- and residue-based biofuel. By end of 2023, DB Schenker plans to claim approximately 3,000 metric tonnes of carbon dioxide equivalent (CO2e) emissions avoidance. This is based on at least 1,000 tonnes of pure biofuel.

“We are excited about this new partnership with DB Schenker as we share the common goal of making logistics more sustainable. Collaborations like these set a clear signal in the industry and are another example of a step-by-step approach to further decarbonise supply chains”, said Henrik Schilling, Managing Director Global Commercial Development at Hapag-Lloyd.

“I am very pleased that together with Hapag-Lloyd we are setting another example for sustainability in our industry. This partnership further enlarges our global biofuel offer in ocean freight. With this commitment we are one step closer to our goal of becoming carbon-neutral”, said Thorsten Meincke, Global Board Member for Air & Ocean Freight at DB Schenker.

Hapag-Lloyd has launched the Ship Green product to offer its customers emission-reduced ocean transports. Based on biofuel, customers of Hapag-Lloyd can add Ship Green as an additional service to their existing bookings – thereby avoiding CO2e emissions. Using the so-called “Book & Claim” chain of custody, Hapag-Lloyd can attribute avoided emissions to all ocean-leg transports, regardless of the vessel and route used. Ship Green is available for all shipments containing standard, hardtop or tank equipment. By offering Ship Green, Hapag-Lloyd is continuing along its path towards achieving climate-neutral fleet operations by 2045.

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