Wakeo’s Mission to Digitalize Global Logistics
Promus Ventures is excited to co-lead the $11M Series A round of Wakeo, a Paris-based company providing real-time visibility into overseas transportation flows to large enterprises and logistics companies.
Together with co-lead investor 360 Capital and existing investors Techstars and 50 Partners, we are excited to support founders Julien Cote and Loïc Marzin as they set out to grow Wakeo into a global leader in this emerging market. Wakeo will use the funding to expand its international footprint and further develop its real-time visibility platform and associated features.
Overseas transportation (sea and air freight) is the backbone of the global economy, underpinning 80% of world commerce. The sector is controlled by a plethora of small to very large logistics companies that rely on manual processes and are unable to provide transparency and visibility to their customers. Increasingly complex and fragile supply chains, aggravated by external shocks such as the pandemic, Brexit or the recent Suez Canal blockage, have led to delays and soaring costs for companies relying on overseas freight.
Real-Time Visibility and Value-Added Features
Wakeo leverages multiple data sources to offer a solution that helps customers get a real-time picture of their transportation flows and ETAs. It allows them to anticipate and address potential delays and other disruptions, while maintaining quality of service and cost discipline. Several large enterprises across consumer goods, industrials or healthcare are relying on Wakeo to help them manage and optimize their overseas transportation flows. Freight forwarders have also been using Wakeo, as they seek to improve customer experience and satisfaction.
As the company grows its coverage and becomes more embedded into its customers’ processes, it will continue to roll-out value-added features such as route optimization and carbon footprint reduction. The logistics sector is in the early innings of digitalization and we believe Wakeo is ideally positioned to capitalize on this trend.
We look forward to working with Julien and Loic as well as the entire team at Wakeo.
You can read more about Wakeo’s future plans and ambitions here.
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