Zencargo, a U.K.-based digital logistics company, announced on Monday that it has raised $42 million in a Series B round led by Digital+ Partners with participation from existing investor HV Capital. The company has raised a total of $66.4 million since 2017.
“This marks an exciting next step for Zencargo,” a statement by co-founder and CEO Alex Hersham and co-founder and COO Richard Fattal on the company’s website said. “With this investment, we’re able to add even greater resources to the pursuit of our mission: to make our customers’ supply chains their competitive advantage.”
This raise comes at a time when supply chains are becoming limited in their ability to meet customer demands, pushing delivery times to the forefront of end-consumer concerns.
Customers of Zencargo, including Swoon Furniture, Soho Home and Vivienne Westwood, are looking for ways to keep their consumers well informed on delivery times and transit issues.
“[Customers are] using shipment data from the Zencargo platform to power real-time delivery estimates on their e-commerce website,” the co-founders explained. “[They] now [have] full order visibility down to the SKU level, so they can tell their customers exactly what’s due to arrive when. Across the board, we see our customers standardising and optimising their inbound supply chain, with Zencargo as their trusted freight partner.”
This optimization is enabling customers to focus on other areas that will help improve their supply chain resilience and sustainability over time.
“One particular Zencargo customer was able to work more closely with the Product Design team to make packaging more space-efficient,” they said. “In one stroke, they have helped reduce landed cost per item, and made their inbound supply chain more environmentally sustainable.”
Zencargo plans to use these funds to continue to grow its current team and open new offices in the Netherlands, Hong Kong and the United States in order to support its customers internationally.