SAN FRANCISCO, January 19, 2023 – Terminal49, the premier maritime freight visibility platform, has raised USD 6.5 million in Series A investment headed by Stage 2 Capital and co-led by Grand Venture Partners, with follow-on investing from seed stage investors totaling USD 8.7 million.
“We are excited to support Akshay and Terminal49 on their journey to automate global trade,” said Dan Heck, Partner at Stage 2 Capital and Terminal49 Board Member. “They have built a product that customers value and that hundreds of organizations rely on to manage the increasing complexity and costs of their global supply chains.”
Terminal49’s API collects real-time ocean cargo and container data from shipping lines and terminals, standardizes the information, and organizes it into a unified and searchable dashboard. A push-based API is also available for accessing the data. Instead of scouring hundreds of websites and manually maintaining container milestones in spreadsheets, Terminal49 clients have rapid access to up-to-date container statuses, allowing them to identify containers at risk and make cost-saving choices quickly.
“Our global supply chain systems are archaic, and their inefficiencies are manifesting on a big scale,” explains Initialized partner Parul Singh. “We invested in Terminal49 because of the possibility and necessity to improve global commerce, especially in these difficult economic times.”
Terminal49 tracks over a million containers for hundreds of companies globally, including Wayfair, Hillebrand, and Mazda USA. Customers rely on Terminal49’s dashboard and API data to track, manage, and optimize ocean freight operations. This saves them hundreds of hours of manual tracking each week and thousands of dollars in demurrage and per-diem costs.
“Terminal49 has increased the efficiency and productivity of our staff,” remarked Spencer Strader, co-founder and CEO of Trade XCelerators. “We now have access to correct ocean freight information in one location, allowing us to communicate trustworthy information with our clients and vendors on a proactive basis. Terminal49’s automation has saved us thousands of dollars annually and improved consumer trust.”
Terminal49 connects to every major ocean carrier and all US and Canadian terminals, and has recently added Southampton and London Gateway terminals. The information gathered from these integrations accounts for 98% of all global ocean freight and container traffic.
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