- Venture capital investors btov Partners and Senovo join in as co-lead investors
- Current investors increase their investment
- Synfioo drives its development and expands its team
Potsdam, 03.06.2019 – The start-up further expands its supply chain visibility platform for monitoring intermodal supply chains with the investment. In addition to the previous investors BFB Brandenburg Kapital, HPI Seed Fund and 3 Business Angel, btov’s Industrial Tech Fund and Senovo joined in as co-lead investors in a financing round concluded in April. Synfioo's solution includes an algorithm that calculates possible sources of disruption on the transport route from large amounts of data and, if necessary, alerts all parties involved at an early stage. By doing so, the company is tackling the classic difficulties of non-transparent supply chains by displaying real-time transport information to all involved companies on the cloud-based platform.
"Both the previous and the new investors are expressing their confidence in us in this way. This proves that we are on the right track. With the additional funds, we will now continue to build our brand. Our team will also be expanded to better support our customers," says Marian Pufahl, CEO of Synfioo. In addition to connecting via a platform, the Potsdam-based software start-up uses artificial intelligence to predict a precise Estimated Time of Arrival (ETA) for stopovers and destinations.
The basis for the algorithms is a multitude of current and historical data from various sources. If the software detects disturbances or delays in the transport process, these are highlighted and sent as a notification so they can be managed directly. Delays represent a high risk for production processes that are set up for "just-in-time" deliveries. If resources or spare parts are missing, the failure quickly leads to high costs. Workflows can be better planned with the ETA platform, because all affected parties are always comprehensively informed and thus have more room for maneuver.
The Synfioo software solution impressed investors with its consistent focus on practical benefits for the logistics industry: "We invest in start-ups with the potential to prevail on the market and against competitors. The accuracy of Synfioo's forecasts is already up to 50 percent ahead of established competitors," emphasizes Benedikt Kronberger of btov Partners. Dr. Alexander Buchberger, Partner at Senovo Capital Management, adds: "Synfioo's business model has convinced us because it comprehensively takes into account all the transport modalities of a supply chain, from trucks to ship and train transports to air freight. Modern transport routes are just as complex, and Synfioo achieves transparency here.”
With the additional capital, Synfioo now intends to further develop and professionalize its brand. Sales will be further strengthened and the company will grow overall. The start-up remains true to its claim of enabling companies of all sizes to utilize market-ready digital solutions. The Synfioo platform can be easily used via various accesses and interfaces, either in combination with existing transport management systems or via computer and smartphone.
Synfioo was founded in 2015 following a logistics research project lasting several years at the Hasso Plattner Institute of the University of Potsdam. The Potsdam-based company's software enables end-to-end intermodal monitoring and disruption notification for each individual transport in real time, as well as the resulting reliable prediction of arrival times (ETA). Further information: www.synfioo.com
Senovo is a Munich and Berlin based early stage venture capital fund with a focus on B2B SaaS Investments. The Senovo team believes that SaaS should be the dominant model for delivering software and is thrilled about the great market opportunities which are continuously created by the secular shift towards SaaS. Senovo funds outstanding entrepreneurs and teams building world class products and generally gets involved soon after product launch. www.senovo.vc
About btov Partners:
btov Partners, founded in 2000, is a European venture capital firm founded and funded by serial entrepreneurs and business angels focussing on industrial technologies and digital leaders of the European economy. The company manages assets of EUR 420 million and examines over 3,000 investment opportunities annually. The btov Industrial Technologies Team has backed firms ranging from component, module and systems hardware companies with embedded software to application and infrastructure software suppliers for industrial verticals. Its technology focus lies in robotics & autonomous vehicles, industrial machine learning, Industry 4.0 and Industrial IoT, cyber-physical security, electronics & photonics, additive manufacturing, power conversion and storage, medical and quantum technologies. Past investments include Blacklane, Data Artisans, DeepL, Dyemansion, Effect Photonics, Electrochaea, Finanzcheck, ORCAM, Quanta, Raisin, SumUp, Volocopter and XING. More information at www.btov.vc/industrial-technologies
Visual material: https://www.synfioo.com/en/pressmaterial/
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