Volvo Group Venture Capital AB has invested in FourKites, one of the leading global real-time transportation visibility platforms.
FourKites pioneered real-time supply chain visibility in 2014 and has since built the world’s largest platform that helps leading brands to reduce their operating costs, improve on-time performance and create better customer relationships. The company tracks more than 1 million shipments daily across 176 countries, with year-over-year growth of more than 120%.
“We see FourKites as a valuable partner in our discussions on developing new services because of their strong real-time visibility capabilities,” said Dan Tram, investment director at Volvo Group Venture Capital. “We think that supply chain visibility will become an industry standard and believe that customers will expect it in new supply chain solutions. FourKites is well-positioned to provide these capabilities with their 450,000 connected carriers across different modes.”
“We are thrilled to partner with Volvo Group Venture Capital in this latest funding round. This will help to accelerate our growth and enable us to bring new innovative solutions to market,” said Mathew Elenjickal, founder and CEO of FourKites.
The role of Volvo Group Venture Capital is to make investments that drive transformation by facilitating the creation of new services and solutions and to support collaborations between start-ups and the Volvo Group.
Against the background of the trends shaping the future of transportation and the strategic priorities of the Volvo Group, the key areas of investment for Volvo Group Venture Capital are currently logistics services, site solutions and electrical infrastructure. The organization has a global scope but focuses on Europe and North America.
The company says the transaction has no significant impact on the Volvo Group’s earnings or financial position.