Singapore-based Portcast, a provider of real-time transport analytics, reports that it has raised US$6.5 million in a new funding round led by Susquehanna Asia VC.
The Series A funding round also featured participation from Hearst Ventures, Signal Ventures, and existing investors including Wavemaker Partners, TMV, and Innoport.
Portcast uses artificial intelligence (AI) to assist in managing supply chains and mitigating disruptions through proactive exception management and automated recommendations. The platform integrates information from carriers, terminals and other data sources through a single API and portal.
“Supply chain disruptions have become the norm, driving up costs for shippers and logistics service providers globally,” said Portcast founder and CEO, Nidhi Gupta.
“It is no longer enough to monitor shipments; the priority now is to drive actions from visibility data through automated recommendations.”
The new investment will be used to fund further product development as well as geographical expansion, with Portcast planning to grow its presence in Asia Pacific and Europe.
