Shell Ventures joins InstaFreight
Berlin — Shell Ventures has announced an investment in Berlin-based digital freight forwarder InstaFreight. The company said it wanted to “help shape the future of the European transport market”. Following the funding round, InstaFreight will cooperate with the new backer in expanding its digital offerings for freight operators in Europe, he said, aiming to further accelerate the digitization of road freight and the transformation of the freight market.
Most recently, the New York hedge fund 683 Capital had invested a double-digit million sum in Instafreight together with the existing investors. Instafreight’s target group is B2B customers who want to send individual pallets or complete truckloads on their way. Photo InstaFreight (left to right): Markus J. Doetsch, Chief Technology Officer, Philipp Ortwein, Co-Founder and Managing Director, Maximilian Schaefer, Co-Founder and Managing Director.
The bottom line is that fleet operators are offered a convenient way to get the right deal, track their vehicles as they transport goods across Europe, and get paid quickly and reliably. “The freight forwarding industry is already undergoing a profound transformation, in which digital approaches are becoming more successful and more prevalent,” believes Philipp Ortwein, Co-Founder and Managing Director of InstaFreight. The company said it intends to use the capital raised to continue its rapid growth, further improve its technology and make its services available to even more shippers and freight carriers across Europe.
Collaboration in the further development of services
By partnering with InstaFreight, SHELL aims to help carriers optimize their utilization with matching business, become more profitable and provide them with real-time visibility. Jermaine Saaltink, Venture Principal of Shell Ventures, was convinced by the management team and the rapid growth that the digital freight forwarder has achieved in a short time. The cooperation should be more than a one-time financial investment. The two companies will work closely together on the further development of services. The partnership opens up the opportunity to develop new mobility solutions as well as expand and scale existing transportation solutions and drive growth in freight brokerage in international markets, Shell Ventures believes.
About Instafreight: The digital freight forwarder
InstaFreight sees itself as a digital freight forwarder for road freight in Europe. Founded in 2016, the company reportedly employs more than 100 people across Europe and carries out more than 5,000 transports per month. The digital platform bundles the cargo space of more than 10,000 freight companies, which shippers can access.