UK's 7bridges raises $17 million Series A to transform supply chains

The latest funding round will help the company achieve our mission of using transformational technologies to enable supply chains that are customer centric, resilient to disruption, more cost-effective, help to decrease waste, improve access to goods worldwide and ultimately, autonomous. For the next 12 - 18 months, the company will focus on increasing the reach of its proprietary AI-powered logistics platform. In practice that means they will continue to grow their commercial team and further invest in our unique technology and data. It will enable 7bridges to transform more supply chains and deliver responsive, flexible, sustainable and cost-effective logistics solutions to their customers and consumers, 7bridges said in a press release.

Today the 7bridges platform is already used by some of the world's top ecommerce, retail, pharmaceutical, and manufacturing brands giving them increased logistics visibility and the ability to orchestrate and execute operations across their supply chains. The company looks forward to working with many more businesses in the coming months as they upgrade their logistics technology from the status quo. The technology is now more important than ever before. In the last two years, the global supply chain performance has been brought into sharp focus by the pandemic and has had a profound impact on people’s lives. However, while Covid may have exposed and accelerated supply chain fragilities it was not the cause.

By harnessing the artificial intelligence (known here as LEO) to make coherent rapid and adaptive decisions across channels, product categories, geographies and service providers, the company can transform multiple elements of the supply chain, from planning to execution, inbound and outbound logistics, inventory optimisation to customer experience. The partnership with Maersk Growth will also provide the clients with even more informed, predictive and insightful supply chain decision making thanks to the synergies between 7bridges specialised AI and Maersk’s global logistics network and data, according to 7 bridges.

“Almost every shipper is facing significant supply chain challenges from rising costs and a changing regulatory environment, and lack the tools and know-how to navigate them. 7bridges is creating a new category of value optimisation software for logistics which has historically only been a service available to the largest shippers from consultants. We are incredibly excited to partner with the 7bridges team as they look to scale the business,” Davor Hebel, managing partner and head of Eight Roads Europe said in a statement. 

“The last two years have drawn supply chains directly into the commercial spotlight. There is an urgent need to innovate in the sector and maintain access to goods we rely on. 7bridges have developed a novel technology solution to digitalise the design, management and optimisation of supply chains. 7bridges will enable a wider range of businesses to better harness the power of data and AI to support commercial decision-making. We believe 7bridges has the potential to address a largely unmet market need and significantly improve companies’ supply chains.” Oliver Finch, investment partner at Maersk Growth said.

Fibre2Fashion News Desk (GK)