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.
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