Swiss-based start-up Arviem has closed its series B investment round. With the new investment of US$ 10 million, Arviem, a company that provides IoT enabled cargo monitoring and supply chain data analytics services bring its total funding to US$ 15 million.
The Series B investment round was led by SICPA, a leading global provider of secured identification, traceability and authentication solutions and services. Additional funds are coming from existing investors Swisscom and Verve Capital Partners / investiere.ch, as well as new investors such as hiQ Solutions, Chanco Holding, NEST and private investors. SICPA and some private investors will join the Board of Arviem.
Sauro Nicli, Member of the Executive Committee at SICPA says, “The container shipping industry is embracing technology to improve productivity and cut costs. Even though so far the industry has been slow in responding to technological advances, the change brought about by digitalization is now coming to shipping and logistics and the rate of adoption of new technologies is accelerating. Therefore, companies offering products and services tailored for this market, such as Arviem, are positioned for ongoing success.”
Arviem’s cargo tracking and monitoring service enables exporters, importers, distributors and manufacturers of goods to understand what’s going on in their supply chains with a level of detail that was not possible before. Arviem’s IoT technology creates transparency in supply chains, eliminates logistics blind spots by connecting intermodal shipping containers, cargo, vessels, and trailers to a cloud-based data analytics platform.
Arviem’s monitoring devices ride with the client’s cargo all along the journey, transmitting precise, ongoing real-time data on the location and the condition of cargo making sure even untraceable shipments can be tracked with ease. Arviem’s unique pay per use pricing model sets the company apart from competitors as it enables corporate clients to roll out the service easily, without the burden of introducing new process or investing into hardware, software or staff.
“During our 10 years of operations, Arviem has focused on addressing the needs of clients towards more transparent, more efficient supply chains,” says Stefan Reidy the founder and CEO of Arviem. “By providing a unique IoT powered, hassle-free cargo monitoring service with global coverage, we have succeeded in driving rapid customer adoption and our service has been deployed by clients in various industries worldwide. To continually support the needs of the industry, the new funding will be used for expanding our service portfolio leveraging the mass of data that we have collected over the years. Developing our services in supply chain financing and supply chain risk profiling with the aim of creating a ‘one-stop-shop service’ (or so-called supply chain service ecosystem) will be our next milestone.”
(Press release)
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