Freightos, an Israeli company that set up the world’s first marketplace for international shipping, announced on Wednesday the completion of a $25 million Series B extension round, led by GE Ventures, with participation by additional investors. The funds will be used to scale the Freightos Marketplace globally while continuing development of the Israeli firm’s software suite of global freight pricing, routing, and sales automation.

“The age of digital logistics has arrived,” said Zvi Schreiber, founder and CEO of Freightos, “and with it easier importing and exporting for businesses worldwide. This once-neglected sector is ripe for digitization.”

Freightos was founded in 2011. The company launched the Freightos Marketplace in July 2016 and already counts over 10,000 registered users.

Freightos technology digitizes freight operations for over 1,000 logistics providers and global supply chain companies, including Nippon Express, CEVA Logistics, Hellmann Worldwide Logistics, and Sysco Foods.

“Ninety percent of everything we eat, wear, and use is shipped. But online sales and automation for the trillion-dollar freight industry is non-existent,” the company told ISRAEL21c. “We believe that process of moving goods around the world should be smooth.”

Freightos has 150 employees in its offices around the world. The company is incorporated in Hong Kong; has a sales, marketing, and product development team in Jerusalem; and has offices in Europe and the United States.

(via Israel21c)

[Photo: Israel21c ]