In just five years, Nexxiot, a pioneer in global supply chain digitisation has transitioned to one of the largest rail freight and tank container IoT providers, operating in more than 160 countries. The new funding round $25M funding round led by U.S. investment firm QVIDTVM will further fuel its growth and expansion in the United States.
An innovator in the IoT space, Zurich based Nexxiot specialises in digitising non-powered cargo transport assets such as intermodal and tank containers. These devices were designed to increase trackability, control, safety, and security while helping to optimise business processes in a $1 trillion industry. The company also aims to facilitate a five percent reduction in global supply chain CO2 emissions by increasing cargo transport efficiency and eliminating waste caused by empty runs and inefficient routes.
Nexxiot’s solutions are now deployed in more than 160 countries and across 450 network roaming partners, making the startup one of the most significant global Clouds in the logistics industry transport efficiency and eliminating waste caused by empty runs and inefficient routes. All Nexxiot devices are certified for dangerous industrial environments where explosions are a real risk and include the highest standards of HazLoc certification for the U.S. market.
Customers select Nexxiot because it has deep experience with hardware and data analytics and has been working with >1.2 billion Big Data points per month processed on its intelligent logistics Cloud. This track record is of particular importance as the process is now underway to evaluate and equip the best technology onto the North American rail fleets totalling around 1.8 million railcars. Employees from 20 countries contribute to the success of the company.
A new financing round of $25 million fueled by QVIDTVM will support the company and its team of 20 employees in implementing its plans. “We are pleased to partner with QVIDTVM, which brings great experience in tech, innovation and disruption. This financing will fuel our growth, further improve our technology to create client success and push ahead with our North America expansion. Through this partnership, we will maintain our lead and continue to offer our clients best-in-class technology, services and ideas,” said Nexxiot CEO Stefan Kalmund.
(Press release/RAN)
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