[PR] Successful financing round: 2.5 million Euros for Synfioo’s Supply Chain Visibility platform
Potsdam, 03.06.2019 The start-up further expands its supply chain visibility platform for monitoring intermodal supply chains with the investment. In addition to the previous investors BFB Brandenburg Kapital, HPI Seed Fund and 3 Business Angel, btov’s Industrial Tech Fund and Senovo joined in as co-lead investors in a financing round concluded in April. Synfioo’s solution includes an algorithm that calculates possible sources of disruption on the transport route from large amounts of data and, if necessary, alerts all parties involved at an early stage. By doing so, the company is tackling the classic difficulties of non-transparent supply chains by displaying real-time transport information to all involved companies on the cloud-based platform.
“Both the previous and the new investors are expressing their confidence in us in this way. This proves that we are on the right track. With the additional funds, we will now continue to build our brand. Our team will also be expanded to better support our customers,” says Marian Pufahl, CEO of Synfioo. In addition to connecting via a platform, the Potsdam-based software start-up uses artificial intelligence to predict a precise Estimated Time of Arrival (ETA) for stopovers and destinations.
The basis for the algorithms is a multitude of current and historical data from various sources. If the software detects disturbances or delays in the transport process, these are highlighted and sent as a notification so they can be managed directly. Delays represent a high risk for production processes that are set up for “just-in-time” deliveries. If resources or spare parts are missing, the failure quickly leads to high costs. Workflows can be better planned with the ETA platform, because all affected parties are always comprehensively informed and thus have more room for maneuver.
The Synfioo software solution impressed investors with its consistent focus on practical benefits for the logistics industry: “We invest in start-ups with the potential to prevail on the market and against competitors. The accuracy of Synfioo’s forecasts is already up to 50 percent ahead of established competitors,” emphasizes Benedikt Kronberger of btov Partners. Dr. Alexander Buchberger, Partner at Senovo Capital Management, adds: “Synfioo’s business model has convinced us because it comprehensively takes into account all the transport modalities of a supply chain, from trucks to ship and train transports to air freight. Modern transport routes are just as complex, and Synfioo achieves transparency here.”
With the additional capital, Synfioo now intends to further develop and professionalize its brand. Sales will be further strengthened and the company will grow overall. The start-up remains true to its claim of enabling companies of all sizes to utilize market-ready digital solutions. The Synfioo platform can be easily used via various accesses and interfaces, either in combination with existing transport management systems or via computer and smartphone.