Roambee raises $15.2m to automate supply chains
February 11, 2020
California-based Roambee has raised $15.2m to help shippers monitor and automate their supply chain. Its real-time predictive monitoring combines the IoT with artificial intelligence (AI) and robotics.
Roambee is an on-demand shipment and asset monitoring platform company serving the manufacturing, logistics, transportation, finance, pharmaceutical and automotive industries. It has announced $15.2m of additional series B financing.
Led by Anchor Group, a Swiss investment firm focused on industrial innovation, and Comcraft, a global investment group, the funding round also included investments from Intuitive Ventures, logistics conglomerate Jebsen & Jessen, Indonesia's wireless service provider Telkomsel and industrialist Anant Singhania.
Roambee has experienced 100 per cent year-over-year growth and this round of funding will be used to expand its operations and accelerate sales globally.
Headquartered in Silicon Valley, Roambee's sensor logistics platform uses IoT sensors to collect data, AI to deliver insights and foresights, and robotic process automation (RPA) to automate operations within the enterprise.
Anchor Group reviewed nearly 400 companies in logistics and supply chain tracking and digitisation before choosing Roambee as the IoT technology to win. Anchor Group's managing partner Dweep Chanana said: "As the only company to collect, translate and transform data into actionable intelligence operating globally, we believe that Roambee is already materially disrupting the logistics industry and well poised to drive and benefit from further transformation of supply chains.”
He said Roambee delivered proven end-to-end goods and asset monitoring.
"As a first step to creating connected supply chains, their integrated approach has resonated strongly with major enterprises who are undertaking major deployments, establishing Roambee as a clear leader in this field,” he said. “We are excited to support them in scaling up to meet demand as more organisations recognise the need for and value from real-time supply chain monitoring."
Roambee has more than 200 paying customers with operations in Brazil, Mexico, India, Germany, UK and UAE. The company's customers include the top three global companies in pharmaceuticals, global logistics and food and beverages, and its logistics platform enables them to eliminate disruption in their supply chain and deliver their shipments on time in quality condition.
"Customers begin by using our service as an early warning system to eliminate disruptions and reduce risks in their supply chain,” said Sanjay Sharma, CEO of Roambee. “We then extend our value proposition by providing insights and foresights to streamline and optimise their operations. Anchor's investment is a strong validation of our technology and our team."
Roambee offers real-time, multi sensor visibility to monitor goods and assets indoor, outdoor and in-transit to eliminate business disruptions. The company's on-demand service gives those responsible for supply chain or field asset performance a real-time window into a number of critical metrics and situations such as current location, cold chain, security breach, tampering, route deviation and chain of custody, when their shipments or assets are in-transit or afield, to help proactively address any discrepancies.