Friday, January 22News That Matters

Freight tech startup Sennder raises $160 million at valuation of over $1 billion

BERLIN (Reuters) – Digital freight startup Sennder talked about on Thursday it had raised $160 million from investors, valuing the six-year-conventional enterprise at more than $1 billion, and would invest the proceeds in its technology platform.

The Berlin-based exclusively firm has emerged as a consolidator in Europe’s freight-tech sector, merging with France’s Everoad and buying Uber’s European freight enterprise final year, and objectives to plod a million truckloads this year.

“Industry became very sturdy in 2020, which is the the rationalization why we had a possibility to take hold of extra money,” CEO and co-founder David Nothacker suggested Reuters. Closing year’s deal-making helped in the reduction of possibility for its investors, he added.

The Series D funding spherical became backed by Accel, Lakestar, HV Capital, Accomplishing A and Scania, and brought full funds raised up to now by Sennder to more than $260 million.

Sennder specialises in broking so-called tubby-truck hundreds, a segment that accounts for spherical a third of Europe’s $350 billion freight sector and has historically relied on runt trucking corporations that work with telephone, pen and paper.

Now, to boot to offering freight forwarding companies and products to major shippers admire Germany’s Siemens, Sennder needs to supply its machine platform as a provider in disclose that shippers can digitise their total logistics setup.

This “Uberisation” of its mannequin builds on a joint endeavor in Italy, the place Sennder handles all parcel traffic for Poste Italiane, saving its accomplice 6% in prices while peaceful making a income on the enterprise itself.

Commenting on the enterprise outlook, Nothacker talked about that Sennder hoped to hit gross sales of 2 billion euros in the next five years. It makes 400-500 euros per truckload, striking forecast gross sales this year at spherical half a thousand million euros.

Reporting by Douglas Busvine: Editing by Cynthia Osterman

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