Ship Angel, a New York-based AI-native platform designed for international shippers, has secured $5 million in funding.
Investors
The round was co-led by Glasswing Ventures and Newark Venture Partners, with additional support from Bienville Capital, Socii Capital, and Plug and Play.
Glasswing Ventures is a venture capital firm based in Boston, Massachusetts. Founded in 2016, the firm invests in the next generation of AI and frontier technology startups enabling the intelligent enterprise.
Founded in 2015, Newark Venture Partners (NVP) is a seed-stage, globally investing venture capital firm that backs bold founders building the next generation of enterprise software.
Ship Angel Use of Funds
The company will use the funding to expand its ocean and air freight Rate Management Platform. The new capital will support the launch of two AI-powered solutions aimed at optimizing workflows for Beneficial Cargo Owners (BCOs).
About Ship Angel
Ship Angel focuses on providing advanced solutions for ocean and air freight rate management for Beneficial Cargo Owners (BCOs). By leveraging artificial intelligence, Ship Angel aims to automate and improve the efficiency, accuracy, and performance of freight rate management processes. Ship Angel's two new products, Contract Amendment Guard and Invoice Audit, provide essential automation to the rate management process and substantial improvements to BCOs' bottom lines.
Funding Details
Company: Ship Angel, Inc.
Raised: $5.0M
Round: Unknown
Funding Month: June 2024
Lead Investors: Glasswing Ventures, Newark Venture Partners
Additional Investors: Bienville Capital, Socii Capital, Plug and Play
Company Website: https://new.shipangel.com/
Software Category: Freight Rate Management
Source: https://www.accesswire.com/875920/ship-angel-raises-5m-expands-ai-powered-operating-system-for-bco-shippers