Fleet raises $10M Series A to make international logistics speedier and more transparent
Summary
Founder and chief executive officer Max Lock tells TechCrunch that the capital will be used to launch Fleet GDS, which he says will be the “industry’s first global distribution system that links rates, automates bookings and documentation for shippers and logistics providers on a single, seamless platform.” The company also plans to launch an air freight platform next month, with Lufthansa Cargo as one of its partners and service providers.Lock first encountered the logistics nightmares many small import-export businesses deal with while running Schoolboy Ice Cream, which sold frozen desserts to Whole Foods and other distributors.He explains that many companies along the supply chain have their own proprietary software and use EDI (electronic data interchange) to send information back and forth, a cumbersome, time-consuming process Fleet GDS is meant to fix.Fleet GDS wants to accomplish this by linking major services like rates, capacity, bookings and documentation across every step of the logistics supply chain, including warehouses, trucks, airlines, ocean carriers and customs brokers.In addition to making the process more efficient, Lock believes that it will also increase trust and transparency in the traditionally opaque logistics supply chain.