Rotterdam, Netherlands-based global digital freight forwarding platform Shypple announced in April 2021 that it has bagged €7.1 million in a Series A funding round from Dutch Founders Fund, Newtown Partners via the Imperial Venture Fund, BOM Brabant Ventures and InnovationQuarter.
The startup will use the proceeds from the funding round to further develop its platform, which is revolutionizing the €295 billion global traditional freight forwarding market.
About the startup
Shypple was founded in 2016. The startup offers companies end-to-end transparency and complete control over their supply chain. Its platform and digital freight forwarding service already help more than 3,000 businesses, including Bunzl and HKliving to manage and improve their supply chain. By creating true value through increased efficacy, direct transport cost savings, error minimizing, performance improvements of suppliers and forwarders and better consolidations, the startup is aiming to optimize global trade. Companies can also increase operational FTE efficiency by 30% through the use of Shypple’s technology. Shypple is ideally positioned to disrupt the global digital transformation of the freight forwarding industry in Europe. It has offices in Hong Kong, Shenzhen and Shanghai.
The startup states that over 90% of global trade is done by sea, and about 90% of this freight forwarding business is split and heavily reliant on excel spreadsheets, emails, telephone calls and other error-prone modes to communicate and manage trade. The exceptional issues as a result of the corona pandemic and most recently the Suez Canal show how fragile global trade can be and that there is a huge requirement for more real-time planning, control and flexibility.
Statements from the stakeholders
Founder and CEO of Shypple, Jarell Habets said with their investors backing them with capital, supply chain expertise and global industry leadership, they are very excited about the future. He added that this strengthens their determination to further develop the Shypple platform and increase usability for its customers. Additionally, this funding also enables them to do acquisitions to increase the volume of their business.
Llew Claasen, co-founder and managing partner at Newtown Partners said the potential for Shypple to transform the traditional and opaque freight forwarding industry is huge. He added that Shypple is perfectly positioned to drive disruptive innovation from Europe. Newtown Partners is excited to partner with them with their extensive knowledge and network in tech and international logistics and change the business over the next few years, he concluded.
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