Online freight firm Freightos raises $25 mln in funding led by GE

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

in Ramallah.

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)