Bringg which is a delivery logistics startup has now secured $25 Million in the funding round which brings the total investment to $53 Million.
The services C round adds the Next47, the Siemens backed Global Venture firm, to Bringg existing list of investors which even includes the Aleph VC, Salesforce Ventures, OG Ventures, Coca-Cola, Ituran, Pereg and Cambridge Capital ventures.
“We are even delighted to invest in Bringg, which is also a pioneering company that even provides with some of the crucial capabilities to leading organizations looking to connect with some of the more logistics data across the set of different silos and simply also help to optimize their last mile of delivery,” said the company Matthew Cowan, Partner at Next47, in an interview. “With the help of global logistics market predicted to grow to more than $15.5 trillion by end of 2023 and the ‘Amazon effect’ drastically changing customer expectations, Bringg has a wide range of opportunity to fundamentally transform the industry logistics department by providing the seamless automation, higher data transparency, and a more collaborative mental outlook.”
The company has plans to use the funds to expand into the additional markets across the globe, which even boost up its current reach of more than 50 countries.
“This is a moment just like a watershed for Bringg as it goes into a mode which is even much more hyper growth,” Guy Bloch, CEO at Bringg, said. “This new investment provides the Bringg to level the playing field in the age of Amazon by enabling large retailers, grocery chains, consumer restaurant chains, goods companies, and logistics firms to provide their customers with what they surely get and expect from their deliveries, based on the optimized business models required to win in today’s challenging market.”
Bringg Delivery Logistics solutions provide the companies to manage, plan, track and measure their entire delivery ecosystem, whether they are using in the third party or house fleets providers or both.
“As of now we are now on a mission to come with some of the equip enterprises with the latest technology platform they need to orchestrate successful delivery operations – which even provides their both the logistics and management teams with the visibility and control they need to not only survive but simply thrive in some of the latest exciting new landscape,” added Bloch.