Automated freight loading co Freightos raises $7.6m

The proceeds will help fund the company’s vision of bringing international freight online with automated pricing and booking.

Automated freight loading company Freightos has completed a financing round of $7.6 million. Investors include Annox Capital, Aleph, ICV, and OurCrowd. The proceeds will help fund the company’s vision of bringing international freight online with automated pricing and booking.

Freightos CEO Zvi Schreiber said, “Almost $19 trillion dollars of goods were imported/exported in 2013. That’s a growth of 5X compared to 1990. But the technology of the cargo industry hasn’t changed at the same pace. Freightos is automating freight sales and bringing it online. Importers and exporters are people who buy clothing, electronics and food online in seconds - they shouldn’t wait days for freight price quotes, with inaccuracies that drive up shipping costs."

Freightos has successfully automated the routing and pricing of freight including all the intricacies of ocean, air, and land transportation. With Freightos, freight forwarders can quote instantly for even the most complex routes. Freightos provides dozens of leading global freight brokers and major import/export companies around the world with automated rate management and quoting solutions, leveraging big data technology to generate instant, door-to-door freight quotes in seconds. The result is a 12fold return on investments (ROI) in months. There has been a 600% year-over-year growth in online automated freight quoting.

Following the Investment Freightos has added Annox Capital Managing Partner Robert Mylod to its Board of Directors. Mylod will further promote online automation in freight, following his role as a key member of the team which successfully automated online consumer travel.

Mylod said, “Freightos is poised to revolutionize the trillion dollar freight industry, introducing the same efficiency and transparency that Priceline brought to consumer travel. While the freight industry is inherently complex, Freightos’ innovative platform can vastly improve the global freight quoting process and introduce significant savings to global supply chains.”

Published by Globes [online], Israel business news - www.globes-online.com - on October 29, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

groundcover founders credit: Yossi Yarom Israeli observability co groundcover raises $35m

groundcover has developed a “Bring Your Own Cloud” (BYOC) observability solution, redefining the architecture of a modern observability platform.

Tel Aviv Stock Exchange credit: Shutterstock MagioreStock Foreign investment in TASE hits five-year high

Foreign investors have been flocking to the Tel Aviv Stock Exchange in recent weeks, the TASE research department tells "Globes."

Elbit Systems tank turret systems credit: Elbit Systems Elbit Systems wins $100m tank turret systems deal

The Israel defense electronics company will supply its advanced UT30 MK2 unmanned turret systems to General Dynamics European Land Systems (GDELS) to be supplied to a NATO European country.

Tomer Weingarten Photo: PR Trump targets SentinelOne exec in act of revenge

The US administration has suspended the security clearance of the company's chef intelligence and public policy officer Chris Krebs and everyone associated with him.

Tel Aviv Stock Exchange share prices rising credit: Tali Bogdanovsky TASE opens sharply higher after Trump U-turn on tariffs

The pause is being interpreted as a climb down after US President Donald Trump admitted he had made the move to calm the markets.

Ashot Ashkelon credit: Ministry of Defense Up 250%, Ashot Ashkelon wins another Defense Ministry order

The Israeli defense company's share price has risen 250% in the past three years since FIMI Opportunity Funds acquired control.

Liad Agmon credit: Eyal Izhar Insight Partners Liad Agmon steps down as managing partner

Serial entrepreneur Agmon has served as a partner at Insight Partners Israel alongside Daniel Aronovitz who set up the Israel office.

Shekels credit: Shutterstock Vladerina32 Shekel slide resumes amid escalating tariff war

The Bank of Israel is not expected to intervene in the forex market despite the sharp depreciation of the shekel.

Nir Zuk credit: Inbal Marmari Palo Alto Networks mulls buying AI security co for $700m

Sources inform "Globes" that on Palo Alto's radar is Protect AI.

President Donald Trump hosts Prime Minister Benjamin Netanyahu credit: Reuters Kevin Mohatt Israeli officials confident on US tariff concessions

Senior Israeli figures believe that concessions could be tied to progress on strategic regional political issues that are important to President Trump.

Phoenix Investment House CEO Avner Hadad  credit: Tommy Harpaz "The market has priced in all the bad things"

Phoenix Investment House CEO Avner Hadad says US markets could continue to fall, but that we are close to interesting territory for patient investors.

Tel Aviv credit: Shutterstock Tel Aviv slips in World's Wealthiest Cities ranking

Tel Aviv's position as one of the world's wealthiest cities took a big knock over the past year as it slipped from 42nd to 48th in investment advisors Henley & Co.'s "World's Wealthiest Cities" Top 50 ranking.

Leviathan platform  credit: Albatross C'ttee seen recommending no cut in gas exports

The Dayan committee on the future of the gas sector estimates that Israel's natural gas reserves will run out in 2045.

Accountant General Yali Rothenberg credit: Rafi Kutz Israel's fiscal deficit continues to narrow

The deficit narrowed in the twelve months to the end of March 2025, for the sixth consecutive month, Ministry of Finance accountant general Yali Rothenberg reported today.

Arkia credit: Arkia Arkia cuts Tel Aviv - New York April fares

Arkia has cut fares at the last minute, a time when prices usually soar even higher, according to the pricing method used in the industry.

Bank of Israel Governor Prof. Amir Yaron credit: Dani Shem Tov Knesset Spokesperson BoI Governor: US tariffs could push up inflation in Israel

Prof. Amir Yaron tells "Globes" that there is a risk that the new tariffs will cause inflation to rise in the US, with a knock-on effect for Israel.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018