Tokyo-based logistics startup, OpenLogi announced in October 2020 that it has raised over US$ 16.7M in the first phase of its series C funding round from Signifiant Inc., Shinsei Corporate Investment, Sumitomo Corporation, Seino Holdings, Sojitz Corporation, Chiba Dojo, and debt financing.
With this funding round, the total capital secured by the startup equals US$ 26.3M, and it plans to complete this Series C round by the end of 2020.
Capital raised will be used by the startup to increase its headcount, in particular of its engineering team and strengthen its product development competencies.
OpenLogi, founded in 2013 by Hidetsugu Ito, operates a cloud-based logistics platform focused on SMEs and freelancers. It aims to promote the concept of physical internet by helping transporters, warehouses, and delivery companies work together by optimizing operations and systems. It also intends to digitize the physical logistics system, which it plans to do by connecting warehouses and delivery services based on big data and algorithms. This will enable it to combine product information, shippers, transporters, distribution centers, stores, and customer residences under one roof, similar to the internet of things (IoT). The startup’s platform offers reasonably priced rates where day-to-day logistics operations such as dispatch instructions are completed online while externalizing the actual operations, enabling clients to simplify their logistics operations.
OpenLogi’s clients can easily check goods receipt, delivery requests, inventory confirmation, and receipt, consignment history from the cloud system. The cloud-based system not only manages various data but also finalizes online exchanges between shippers and warehouse staff. Partial response requests such as modification of the number of bundled items and document attachment can be completed online, thus completely removing the need to use FAX, email, or Excel.
Presently, OpenLogi has more than 8K registered users and over 40 affiliated logistics companies countrywide.
The startup is backed by multiple investors such as Eight Roads Ventures, SMBC Venture Capital, Spiral Ventures, Infinity Ventures Japan, Kotaro Chiba, Signifiant Inc. and Infinity Ventures.
About Signifiant Inc.
Tokyo-based Signifiant Inc. invests in budding startups and also offers advisory services in Japan. It focuses both on pre-IPO and post-IPO startups with pioneering technology and service. It mainly provides 3 services: an Industrial Finance Business, for risk money and management strategy insights to later-stage private startups to encourage their post-IPO growth; a Management Advisory Business, delivery management insights for companies progressing at a high rate, whether Pre-IPO or Post-IPO; and a Public Equity Investment Business, investing in public equity.
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