SYNTRA RAISES $18 MILLION TO EXPAND

    Syntra Ltd., the New York-based logistics information tecnology vendor, has raised $18 million from venture capital firms Invesco, Merrill Lynch KECALP LP., Oak Investment Partners and Sandler Capital to fund its expansion.
    The global commerce management program of Syntra is designed to address financial, logistics and regulatory constraints to have global fulfillment processes, the company said.
    The e-commerce firm has developed a Global Logistics System application to automate the exporting process of companies. The system covers order validation, compliance and electronic data interchange communication, track and trace and "event chronology."
    Syntra also announced the company has changed its name to Syntra Technologies.