TecPier and Newark Venture Partners invest in US startup SensorTransport
Hamburg, 14th of August 2019. TecPier and Newark Venture Partners invested in the US startup SensorTransport with a mid-range six-figure investment. SensorTransport connects global shippers with local carriers to collect digital tracking, proof of delivery and condition monitoring of cargo in transit. Digitized delivery is offered at a disruptive price of less than one euro per shipment.
The SensorTransport smartphone application includes an Internet of Things (IoT) gateway for Bluetooth sensors. A low cost Bluetooth enabled sensor logs data from the cargo journey and is automatically read in the delivery moment. This technology enables drivers to upload data globally with apps on their existing smartphones. “We decided to use smartphones as they are an excellent gateway and allow us to work with significantly cheaper sensors than those of our competitors,” said Rob Haney, founder and CEO of SensorTransport. All of the captured sensor data and shipment information is uploaded to the cloud-based platform and made accessible through an online dashboard called the Command Console.
Top brands and leading freight forwarders are already customers of SensorTransport. “Thanks to SensorTransport, we can monitor the condition of our cargo seamlessly and make it visible to our customers. As such, our customers are enthusiastic because they can now ensure that only perfect goods enter the market.” States a top Global 3PL customer.
The fresh capital will flow primarily into sales and product development. “We are pleased to have found two strong partners in TecPier and Newark Venture Partners. With TecPier’s strong network and sales support from Newark Venture Partners, we are confident that we can further accelerate our strong growth path,” said Annika Sorensen, the CFO of SensorTransport.
TecPier is already invested in startups like Closelink and NautilusLog. Konstantin Loebner, founding partner of TecPier commented: “In addition to the strong and experienced founding team, we were particularly impressed by the high global scalability of SensorTransport that is thriving in a growing connected logistics market. We are convinced that their business model will be successful. This also indicates that the sensors are getting cheaper and that in the future, more and more freight forwarders will want to have data about their products as they make their way to trading partners or end customers.”
Tom Wisniewski, Managing Partner of Newark Venture Partners adds, “We know that goods becoming lost or damaged during transport is a major pain point for companies all over the world, costing billions of dollars. SensorTransport offers the global shipping industry, and its clients a new level of transparency, confidence and control. With their new satellite office in New Jersey, they now have proximity to some of the largest ports in the U.S. and are excited about their trajectory.”
TecPier has been under the legal advisory of Prof. Dr. med. Stephan Göthel from Pier11 in Hamburg.
TecPier is a venture builder, early stage investor that invests in selected maritime technology companies, primarily in the pre-seed and seed phases. TecPier actively supports its portfolio companies with market access, company building and fundraising. TecPier has a clear focus on digital business models that have the potential to transform the shipping industry.
About Newark Venture Partners
Newark Venture Partners is a leading early stage venture capital firm with a Limited Partner base that includes top corporate investors Audible (an Amazon Company), Dun & Bradstreet, Fidelco Realty Group, Horizon Blue Cross Blue Shield, Panasonic Corporation of North America, Prudential Financial, RWJBarnabas, TD Bank, and the New Jersey Economic Development Authority. Our full time sales, strategy and development teams help innovative entrepreneurs build distinctive B2B technology companies while catalyzing growth in the City of Newark. Newark Venture Partners includes a direct investment arm, investing up to $1 million in Seed and Series A companies, and our bridge-to-seed accelerator arm, NVP Labs, which invests in up to 10 companies twice a year. For more information visit Newark.VC
For further information: https://www.tecpier.com
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