8vc

Gallatin AI has raised $15 million in seed funding to modernize military logistics and supply chains.

After exploring the potential of large language models, Deliverr co-founder Harish Abbott recognized that logistics professionals spend most of their work time handling routine tasks like email, phone calls and data entry.

Founding partner Jake Medwell speaks with FreightWaves about 8VC’s new fund.

The company last announced its Series C raise in 2022, led by SoftBank Vision Fund 2 for $115 million, valuing the company at $575 million. Platform Science has raised $309 million since 2017.

According to Terminal Industries, 92% of yards lack technology solutions to eliminate wasted capacity, drive down unforeseen costs and improve inventory operations, leading to $146 billion in excess transportation costs.

Despite the problems in the U.S. and around the world, there are some encouraging signs.

“There is an urgent demand for new and innovative ways to increase visibility and efficiencies in the supply chain and improve driver experience, and this investment from our new and existing partners is going to power us to fill that need,” says Platform Science co-founder and CEO Jack Kennedy.

The new infrastructure bill is now law. As signed by President Biden on Nov. 15, it will ultimately spend $1.2 trillion. What will that mean in practice?

Supply chain tech is increasingly driven by late-stage venture capital activity.

“The most effective way to address supply chain congestion is to move inventory closer to the end customer,” said Deliverr co-founder and CEO Harish Abbott.

Jake Medwell of Austin, Texas-based 8VC, and Loren Smith of Skyline Policy Risk Group discuss geopolitics, infrastructure and regulation in their latest give-and-take session.

“The deluge of information can lead to processing delays, false detections and erroneous alarms. All this processing noise is what leads lidar systems to behave like distracted drivers,” said Spartan Radar’s founder and CEO on competing technology.

Amazon’s Jeff Bezos increases investment in U.K.-based supply chain platform Beacon and confirms rumors of investment in Singapore-based e-commerce platform Ula.

Daimler Trucks North America’s participation in this round points to an increasing market for Truck-as-a-Service products, tools integrated during the manufacturing process to help fleets manage safety, privacy and intelligent automation tools.

In his keynote address at FreightWaves’ Cold Chain Summit on Wednesday, Sudarsan Thattai, CIO of Lineage Logistics, says the global leader is well positioned to address future supply chain challenges through technology investments and key alliances.

Temperature-controlled logistics real estate investment trust Lineage Logistics and venture capital firm 8VC have formed an alliance to invest in technology startups in the transportation and logistics industry.

8VC was named top VC in Pitchbook’s Q1 2021 Supply Chain Tech Report.

Project44 attributes its exponential growth, like its 135% year-over-year new bookings growth in Q1, to its skilled global team.

Jake Medwell, founding partner at 8VC, and Loren A. Smith Jr., president of Skyline Policy Risk Group, take a look at potential impacts on trucking.

The capital will drive volume growth and help Baton expand to new markets.