Abu Dhabi contributes to Turvo’s $60 million in funding

San Francisco firm has developed real-time collaborative logistics platform that “keeps everyone on the same page across the supply chain ecosystem.”

Abu Dhabi contributes to Turvo’s $60 million in funding

San Francisco firm has developed real-time collaborative logistics platform that “keeps everyone on the same page across the supply chain ecosystem.”

Abu Dhabi contributes to Turvo’s $60 million in funding

San Francisco firm has developed real-time collaborative logistics platform that “keeps everyone on the same page across the supply chain ecosystem.”

 
Turvo, a Sunnyvale, Calif.-based company that has developed a real-time collaborative logistics platform, said Thursday it has raised $60 million in a series B funding round led by an arm of Mubadala Investment Company, which is owned by the government of Abu Dhabi.
    Other investors in the current round include the venture firms G2VP and Next47, which is backed by Siemens.
    Total investment in Turvo has now reached nearly $100 million, the company said.
    Turvo said its platform “keeps everyone on the same page across the supply chain ecosystem by making it easy to share shipments and documents, send messages and assign tasks to people both inside and outside the organization, reducing back-and-forth phone calls and emails,” gives real-time visibility of shipments, improves productivity with artificial intelligence and allows for digital billing and payments.

In the face of Brexit uncertainty, shippers are expected to start moving their distribution hubs and warehouses from the U.K. to the European Union. Assets based in the EU will start becoming a safer investment, avoiding any U.K. logistics delays caused by Brexit. Cash-flow problems are also expected for U.K. shippers in the event of a no-deal Brexit.

On a typical day in FY2018, CBP seized 4,657 pounds of narcotics, $290,411 in undeclared or illicit currency, and $3.7 million worth of products with intellectual property rights violations.

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Abu Dhabi contributes to Turvo’s $60 million in funding

San Francisco firm has developed real-time collaborative logistics platform that “keeps everyone on the same page across the supply chain ecosystem.”

Nov 09, 2018 on Dec 27, 2018AmericanShipper.com

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Abu Dhabi contributes to Turvo’s $60 million in funding

San Francisco firm has developed real-time collaborative logistics platform that “keeps everyone on the same page across the supply chain ecosystem.”

Nov 09, 2018 on Dec 27, 2018AmericanShipper.com