Digital road freight forwarder ChainCargo has raised €1,75 million in a new investment round. The total growth money that the Eindhoven startup received in this Seed round amounts to € 3 million. The capital injection comes in a growth year: ChainCargo expects a fivefold increase in turnover in 2021.
The latest investment of €1,75 million comes from BOM Brabant Ventures and two informal investors. “With this amount, we can take a big step in further developing our digital solutions and accelerate our growth in Europe”, says co-founder Jeroen Kemp. “With a focus on Full Truck Load transports, ChainCargo customers can expect an even better digital tool with which they can arrange their transport in an instance – without delaying intermediate steps.”
Utilize the available capacity in a transport movement
ChainCargo wants to contribute to a sustainable future by combating waste in transport and thus reducing CO2 emissions. With digitization and automation, the company creates transparency in the generally opaque road transport market. By knowing exactly where the available capacity is, goods are transported more efficiently, and existing transport movements are used optimally.
More pressure on road transport due to reshoring to Europe
The startup expects that the use of existing transport movements in Europe will become even more important in the coming years. Partly due to the exorbitant container prices in the ocean freight market, more and more companies are choosing to move their production to Europe. This puts extra pressure on road transport. “We have the solution to relieve that pressure,” explains co-founder Giovanni Gubbels. “With our system, shippers can efficiently organize their road transport and skip the search process for new partners. Communication with various carriers takes place at a central location: the intelligent ChainCargo road freight forwarding system.”
About ChainCargo
Giovanni Gubbels, Jeroen Kemp, and Coen van Boxtel started ChainCargo in 2018 with the idea of making the transport market more sustainable and digital. By matching shippers to drivers who are already on the road, the digital road freight forwarder contributes to more efficient transport, fewer unnecessary kilometers, and a better environment. ChainCargo has 30 employees and has, in addition to an office in Eindhoven, a branch in Budapest, Hungary.