The start-up Forto is certain that the global movement of goods will change fundamentally as a result of data analysis and automation. Apparently that is also appreciated by investors.
The Berlin logistics start-up Forto is valued at around one billion euros after a new round of financing.
The investment of 240 million dollars (202 million euros) will be led by Vision Fund 2 of the Japanese Softbank group, the company announced on Monday in Berlin.
Forto was co-founded in 2016 as a Freighthub by the brothers Ferry and Fabian Heilemann. On the one hand, the company arranges transport capacities for land, air and sea freight. The core of the product range, however, is software that covers the entire logistics process from ordering to delivery to the warehouse. It is used, for example, by retailers on the Amazon Marketplace. According to Forto, customers also include companies such as Home24 and Edeka.
“Data analytics and process automation will fundamentally change the global delivery of goods and services,” said Karol Niewiadomski, senior investor at SoftBank Investment Advisers. “Forto’s centralized platform uses these technologies to increase operational efficiency, reduce processing costs and increase transparency for customers.”
Michael Wax, CEO and Co-Founder of Forto, said the investment will enable his company to grow. “In our endeavor to further digitize global trade, we plan to significantly expand our international presence, our technology platform and our range of services in order to consolidate our market leadership in Europe and beyond.”
A Forto spokesman emphasized that the new investment also supports the company in its goal of making global trade more sustainable. More than half of Forto customers are already using the company’s offer to offset CO2. Forto is doubling the CO2 compensation of each customer in order to enable climate-positive transports.
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
