This funding round was led by Eight Roads, with strategic investment from Maersk Growth, the venture arm of the global logistics giant. It will allow 7bridges to help businesses enhance their supply chains for a resilient and sustainable future.
My Co-Founder, Matei Beremski, and I are pleased to announce 7bridges’ $17M Series A funding round led by global venture capital fund Eight Roads, with additional investment from Maersk Growth and support from our existing investors Local Globe and Crane.
This latest funding round will help us achieve our mission of using transformational technologies to enable supply chains that are customer centric, resilient to disruption, more cost-effective, help to decrease waste, improve access to goods worldwide and ultimately, autonomous.
For the next 12 - 18 months, we will focus on increasing the reach of our proprietary AI-powered logistics platform. In practice that means we’ll continue to grow our commercial team and further invest in our unique technology and data. This will enable 7bridges to transform more supply chains and deliver responsive, flexible, sustainable and cost-effective logistics solutions to their customers and consumers.
Today the 7bridges platform is already used by some of the world's top ecommerce, retail, pharmaceutical, and manufacturing brands giving them increased logistics visibility and the ability to orchestrate and execute operations across their supply chains. We’re looking forward to working with many more businesses in the coming months as they upgrade their logistics technology from the status quo.
Our technology is now more important than ever before. In the last two years global supply chain performance has been brought into sharp focus by the pandemic and has had a profound impact on people’s lives. However, while Covid may have exposed and accelerated supply chain fragilities it was not the cause.
Historically businesses have been struggling to rewire their supplier and distribution networks. For years they have been grappling with disconnected data, siloed and outdated technologies and time-intensive manual processes. The result is wasted time, resources and money - up to 50% of logistics spend is squandered. A study by McKinsey & Company found that 85% of supply chain executives pointed towards such inefficiencies in their digital technologies as a cause for concern.
At 7bridges, we are uniquely positioned to help businesses enhance, and future-proof their supply chains in ways that are more sustainable, resilient, cost-effective and efficient.
By harnessing our artificial intelligence (known here as LEO) to make coherent rapid and adaptive decisions across channels, product categories, geographies and service providers we’re able to transform multiple elements of the supply chain, from planning to execution, inbound and outbound logistics, inventory optimisation to customer experience.
The partnership with Maersk Growth will also provide our clients with even more informed, predictive and insightful supply chain decision making thanks to the synergies between 7bridges specialised AI and Maersk’s global logistics network and data.
When talking about the investment in 7bridges, Davor Hebel, Managing Partner and Head of Eight Roads in Europe said:
“Almost every shipper is facing significant supply chain challenges from rising costs and a changing regulatory environment, and lack the tools and know-how to navigate them. 7bridges is creating a new category of value optimisation software for logistics which has historically only been a service available to the largest shippers from consultants. We are incredibly excited to partner with the 7bridges team as they look to scale the business."
Davor Hebel, Managing Partner and Head of Eight Roads Europe
Oliver Finch, Investment Partner at Maersk Growth said:
“The last two years have drawn supply chains directly into the commercial spotlight. There is an urgent need to innovate in the sector and maintain access to goods we rely on. 7bridges have developed a novel technology solution to digitalise the design, management and optimisation of supply chains. 7bridges will enable a wider range of businesses to better harness the power of data and AI to support commercial decision-making. We believe 7bridges has the potential to address a largely unmet market need and significantly improve companies’ supply chains."
Oliver Finch, Investment Partner at Maersk Growth
About Eight Roads
Eight Roads is a global venture capital firm managing $8bn of assets across offices in the UK, China, India, Japan, and the US. Together with our associated funds, including our US sister fund F-Prime Capital, our 50-year history of investing includes partnerships with over 300 companies such as Alibaba, AppsFlyer, BlackDuck, Cazoo, Chewy, Devoted Health, FarEye, Flywire, Fireblocks, Funnel.io, Gloat, Hibob, Icertis, Made.com, Neo4j, Spendesk, Packlink, Paidy, Ping Identity, Pony.ai, Toast, Wallapop, WuXi PharmaTech.
About Maersk Growth
Maersk Growth is the venture arm of A. P. Moller – Maersk with the mission to digitise, democratise, and decarbonise supply chains by backing new business models and technologies. With the aim to unlock growth, we invest in and partner with promising start-ups and visionary innovators - and by injecting our very own rocket fuel we activate our portfolio companies’ full strategic potential.
Want to learn more about transforming supply chains with AI? Drop us a line to find out more.
