UPS invests in Reverse Logistics firm Optoro
January 5, 2017
UPS has taken a stake in reverse logistics specialist Washington DC based start-up Optoro. The company has developed algorithms that analyses returned goods, routing them to online marketplaces where its software determines that retailers will get the best return. UPS is planning to develop new solutions and services together with Optero based on the firm's software.
UPS is one of several companies taking part in a $30 million Series D funding round. The company has refused to reveal how much it has invested. Other companies in the funding round are Kleiner Perkins Caufield & Byers, Revolution Growth, Generation Investment Management LLP, Tenfore Holdings, Swan & Legend Venture Partners and the Maryland Venture Fund.
UPS and Optoro are planning to develop a joint offering to help retailers address a range of supply-chain issues. This will include new reverse logistics solutions.
UPS already offers a number of returns services targeted at retailers and manufacturers.