UK-based 7bridges, an AI-based logistics platform that helps optimise strategic decisions and improve supply chain management based on collected information and inventory processes, raised USD 17 million on 17th January 2022.
Investors: The investment round was led by Eight Roads and participation from Maersk Growth, a global logistics giant’s investment arm. The total funding exceeds USD 20 million, including existing investors LocalGlobe, Acequia Capital, and Crane Ventures Partners.
Purpose of funding: Using the funding, the startup intends to develop customer-centred technologies, cost-effective, reduce waste, improve global access to goods, and eventually become autonomous. Additionally, the startup will expand the reach of its proprietary AI-powered logistics platform.
About 7bridges
Founded in 2016 by Matei Beremski and Philip Ashton, 7bridges is located in London, UK. 7bridges is an AI-based logistics platform that helps optimise strategic decisions and improve supply chain management based on collected information and inventory processes. The startup’s solution Leo (AI), predicts product demand and enables logistics planning well in advance. Using this method will improve logistics, cut transportation costs, and save a lot of money. Additionally, it rapidly adjusts to changing customer needs across multiple channels, product categories, and suppliers, transforming its supply chain.
Furthermore, the startup partnership with Maersk Growth opens up new opportunities for clients to make smarter, more informed and more predictive supply chain decisions using Maersk’s global logistics network and data.
What the founder has to say
“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 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,” said Philip Ashton, CEO, and Co-Founder at 7bridges.
What the investor has to say
“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,” said Oliver Finch, Investment Partner at Maersk Growth.
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