KlearNow, an AI-driven digital customs clearance platform, has closed a new $16 million funding round to support further development of its technology and drive expansion into new geographical markets.
KlearNow’s system aims to allow importers, customs brokers and freight forwarders to integrate with local customs authorities to conduct business on a single digital platform, remotely and in real time. The firm’s software uses artificial intelligence to automate this process, to eliminate errors and reduce the time required to clear customs.
The Series A funding round was led by GreatPoint Ventures, with additional participation from Autotech Ventures, Argean Capital and Monta Vista Capital.
“We are extremely excited to partner with this round of investors,” said Sam Tyagi, Founder and CEO of KlearNow.
“We sought out firms who provide more than just funding, with an engaged leadership style, an extensive network, and a track record of helping portfolio companies grow and scale at unprecedented rates. We look forward to working with these investors as we revolutionise the customs clearance industry.”