The financing agreement with Swiss Kineo Finance in June last year boosted growth for the supply chain startup Arviem, the startup specializing in cargo monitoring and supply chain visibility services. In the months following the investment, the company reported a more than 40% revenue increase and launched its Asian business unit in Singapore.
Arviem collects data and uncovers supply chain blind spots by installing automated locating and sensing technology on multimodal containers and cargo. The company provides real-time, carrier-independent data on the location and condition of cargo during the whole journey, from the point of manufacture to the point of delivery. It offers cargo monitoring as a fully managed service, including cargo monitoring devices, access to a data analytics platform, and device logistics and maintenance. With actionable insights, clients can develop cost-saving strategies, optimize their supply chain, assess performance, and identify bottlenecks.
Following the closing of a multimillion financing agreement with Swiss financial company Kineo Finance, the Swiss startup saw impressive growth driven by increased customer demand. The company expanded its service pipeline by submitting nearly 40% more proposals in 3Q 2022 compared to 2Q 2022. The 3Q total submitted proposals remained almost equal to 2021. Moreover, the average Total Contract Value (TCV) of the proposals increased last year.
Already in Q3 2022, Arviem saw a more than 40% revenue increase compared to 1Q and 2Q of the same year. Accounting for this growth was, among others, the increase in its service capacity by more than 40% during the year. The startup has now launched a new business unit in the Asian market with sales and operations employees in Singapore to serve clients in this new market. The expansion will contribute to extra growth in 2023 and beyond.
(RAN)
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