UPDATED 08:00 EDT / AUGUST 17 2022

APPS

HyperTrack lands $25M funding to build out its API-based, last-mile logistics infrastructure

Logistics infrastructure provider HyperTrack Inc. announced it has closed on a $25 million early-stage funding round today.

The funds from the Series A round will help it to capture a slice of what it says is a multibillion-dollar market for systems enabling last-mile logistics technology. HyperTrack says the emergence of the so-called gig economy has created massive demand for more accurate last-mile logistics infrastructure that can track the status of food and product deliveries in real time.

As same-day deliveries become the standard, HyperTrack says traditional logistics technologies are struggling to keep track of the “ground truth” of order lifecycles. It reckons that existing systems are simply inadequate when it comes to knowing exactly where a product is as it makes its way from a supplier to the customer. That results in a lot of unsatisfied consumers and inaccurate payments for delivery drivers, the company said.

To solve that problem, HyperTrack has created a mobile infrastructure encompassing order planning, assignments, location tracking and mapping application programming interfaces. These can then be pieced together by developers to rapidly build comprehensive last-mile logistics systems for their applications in a matter of days.

HyperTrack’s flagship product, also announced today, is called BuilderX. It provides all of the tools developers need to build tracking solutions for both scheduled and on-demand orders. As well as APIs, it also includes software development kits, custom business logic and workflows. Developers can use HyperTrack’s tools to save countless hours when building consumer- and driver-focused apps for mobile, live location tracking, plus the operations dashboard and cloud infrastructure required to support them.

Furthermore, BuilderX lets developers add extensive functionality to their apps, including self-improving routes, nearby search, geotags, geofences, flexible routes and on-time routes to accurately track products through every stage of the order lifecycle. Ultimately, developers will be able to build and deploy an extremely accurate and detailed last-mile logistics infrastructure without the assistance of a team of mobile, mapping and cloud experts, HyperTrack said.

HyperTrack co-founder and Chief Executive Kashyap Deorah said the growing need for same-day delivery requires the logistics stack to be reimagined. “Our solution is transforming massive industries as disruptors continue to use our API Platform to build logistics apps for the future,” he said. “This funding will help fuel our mission in changing the way all industries deliver products and services.”

BuilderX has won over a number of customers in Europe, Latin America, the Middle East and Southeast Asia already. They include Indian startup Spiritzone Ltd., which uses HyperTrack to track alcohol delivery orders to customers in real-time. Another happy customer is the German marketplace MagaLoop GmbH, which relies on HyperTrack to streamline order fulfillment to retailers across Europe.

Image: HyperTrack

A message from John Furrier, co-founder of SiliconANGLE:

Support our mission to keep content open and free by engaging with theCUBE community. Join theCUBE’s Alumni Trust Network, where technology leaders connect, share intelligence and create opportunities.

  • 15M+ viewers of theCUBE videos, powering conversations across AI, cloud, cybersecurity and more
  • 11.4k+ theCUBE alumni — Connect with more than 11,400 tech and business leaders shaping the future through a unique trusted-based network.
About SiliconANGLE Media
SiliconANGLE Media is a recognized leader in digital media innovation, uniting breakthrough technology, strategic insights and real-time audience engagement. As the parent company of SiliconANGLE, theCUBE Network, theCUBE Research, CUBE365, theCUBE AI and theCUBE SuperStudios — with flagship locations in Silicon Valley and the New York Stock Exchange — SiliconANGLE Media operates at the intersection of media, technology and AI.

Founded by tech visionaries John Furrier and Dave Vellante, SiliconANGLE Media has built a dynamic ecosystem of industry-leading digital media brands that reach 15+ million elite tech professionals. Our new proprietary theCUBE AI Video Cloud is breaking ground in audience interaction, leveraging theCUBEai.com neural network to help technology companies make data-driven decisions and stay at the forefront of industry conversations.