TEL AVIV, March 29 (Reuters) - Freightos, an online
marketplace for international shipping, said on Wednesday it
raised $25 million in funding led by GE Ventures, bringing the
company's total funding to date to $50 million.
"This capital raise will help to continue Freightos’ rapid
expansion," said Zvi Schreiber, founder and chief executive of
Freightos, which has headquarters in Jerusalem and an R&D centre
Launched in July, the Freightos Marketplace had a doubling
in orders in the first quarter of 2017 over the previous
quarter. It has over 10,000 registered users.
The Freightos Marketplace enables freight companies to sell
services online and import/export companies to compare, book,
and manage shipments. Freightos digitizes freight operations for
companies such as Nippon Express, CEVA Logistics, Hellmann
Worldwide Logistics and Sysco Foods.
In August, Freightos acquired WebCargoNet, a Barcelona-based
provider of air cargo rate management and eBookings.
Investors in Freightos include Sadara Ventures, a venture
capital fund targeting the Palestinian high-tech sector, as well
as Israel's Aleph VC, Michigan-based Annox Capital and MSR
Capital of Malaysia.
(Reporting by Tova Cohen)