NGP, ETF in €20m series-B for Shippeo

The round also saw participation from new and existing investors, including BPI France Digital Ventures and Partech.

The fresh capital will be used to further strengthen the company's market position in Europe (with the aim of growing the customer base five-fold); expand the team with 150 new recruits in data science, IT, sales and operations; and to triple the R&D investment in AI and automatisation.

Previous funding
Otium led a €2m seed round for Shippeo in March 2016. Kerala Ventures and Le Studio VC also took part in the first round of financing.

Subsequently, Partech Ventures led a €10m series-A funding round for the company. Existing investor Otium also participated.

Company
Shippeo was founded in 2014 and is headquartered in Paris. It has developed a transport visibility platform that shippers can use to track their deliveries. The AI-based platform aggregates data from hundreds of sources in real time to calculate the estimated time of delivery.

Shippeo serves 50 companies across 40 countries. It employs 80 people in seven offices across Europe. Over the last year, Shippeo has increased its turnover by 300%, according to a statement.

People
Shippeo – Pierre Khoury (CEO); Lucien Besse (chief operating officer).
NGP Capital – Bo Ilsoe (partner).
ETF Partners – Remy de Tonnac (partner).

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• Topics
• Expansion
• France
• Technology
• France
• Venture
• Partech Ventures
• BPI France