UPDATED 22:47 EST / MARCH 28 2017

CLOUD

Collaborative logistics startup Turvo raises $25M funding round

Collaborative logistics startup Turvo Inc. said Tuesday it has raised a $25 million funding round for its real-time collaborative logistics platform that allows shippers, brokers and carriers to work together across the entire supply chain.

The three-year-old company said the Series A funding round was led by Activant Capital and included Felicis Ventures, Upside Partnership, Slow Ventures and onetime Nest founder Tony Fadell.

“While other solutions focus on more narrow aspects of logistics, such as on-demand trucking, freight forwarding, or track-and-trace of goods, Turvo spans the entire supply chain from orders and shipments to invoices and payments,” the company said in a statement.

Turvo’s platform is cloud-based and uses artificial intelligence-powered productivity tools to “secure collaboration that breaks down traditional organizational silos.” The company said its focus on “cross-company collaboration” keeps everyone on the same page by making it easy to share pertinent information on each shipment, with the Turvo mobile app and hardware sensors providing the information in real-time. The platform also supports billing and payments, allowing digital invoices to be shared instantly and payments to be scheduled automatically.

Although the service itself only opened to the public Tuesday, Truvo is already working with a small number of companies, including beef jerky maker Oberto Brands, cosmetics company Le Metier De Beaute, beer maker Anchor Brewing and logistics provider Service First Logistics.

“Turvo is revolutionizing logistics with an end-to-end IoT [Internet of Things] platform to create the ‘Internet of Shipping,'” Fadell added. “Turvo goes beyond supplying a logistics platform. It also makes available a constantly learning and improving intelligent shipping assistant to help any shipper of any size meet or beat the best in the industry.”

It’s not known how much Turvo has raised to date as it did not disclose the amount of its seed round. But previous investors included Box Inc. Chief Executive Aaron Levie, Renew.com co-founder Kevin Nazemi and former Microsoft India Chairman Ravi Venkatesan. The company did not disclose precisely what it intended to use the new funding for.

Image: Turvo

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