7bridges raises $3.4m seed round
7bridges has announced that it has has launched its AI-powered optimisation engine to help businesses scale and automate logistics and supply chains, as well as a $3.4 million seed funding round, which was co-led by Crane Venture Partners and LocalGlobe, allowing the roll-out of the Logistics Engine Optimisation ‘L.E.O’ technology to clients globally, in industries from retail and fashion to med-tech and manufacturers.
The platform’s proprietary technology allows businesses to transform outdated, rules-based logistics processes into agile and automated systems that continuously adapt to change. Recently, this has proved invaluable for businesses reacting to COVID-19, with the platform enabling fulfilment to continue despite warehouse shutdowns.
The 7bridges platform allows direct integrations to carriers and other fulfilment solutions via its global partner ecosystem, as well as integrations to tools such as ERPs to enhance data visibility and accessibility.
Its ready-made automation tools enable businesses to control and optimise all areas of their logistics including auditing costs, document creation, performance analysis and procurement.
The AI-powered platform also continuously suggests optimal logistics strategies, by simulating and predicting the impact of changes in the supply chain in the context of business constraints and goals.
Philip Ashton, Co-Founder and CEO of 7bridges, said: “Customer expectations of deliveries have fundamentally shifted over the past few years, in terms of both speed and sustainability. While this dramatically increases the costs and complexity of the logistics category, it has created an opportunity to gain an enormous competitive advantage.
“At 7bridges, we enable businesses of any scale to rapidly implement and manage agile, efficient and sustainable logistics operations that can adapt to any market eventuality and keep the business moving.”
Scott Sage, partner at Crane Venture Partners, said: “Like many other industries, from banking to construction, supply chains are becoming rapidly digitised across the economy. This creates an incredibly important opportunity for disruption. We’re always on the lookout for passionate founders who have experienced the problem they’re working to fix, and are proud to be working alongside the 7bridges team – there’s no substitute for their level of expertise.”
George Henry, partner at LocalGlobe, said: “7bridges is offering a unique A.I powered solution for building scalable, adaptive logistics systems – so that organisations can continue to fulfil their customers’ orders whatever the future holds.
“We’re excited to be part of the 7bridges journey, as the team leads the way in logistics evolution.”