Israeli startup Octup, which makes an AI-powered platform to help manage and analyze logistics centers, has raised $12 million in a Seed funding round. The round was led by JAL Ventures and Shine Capital, with support from Tal Ventures, Stone Capital, and HCS Capital.
The company was started in 2022 by Alon Partuk and now has around 30 employees, most of them in Israel. Octup’s main office is in Tel Aviv, and it also has offices in Toronto and Austin.
The Seed funding round was completed while Alon Partuk was serving in the IDF reserves, after being called up on October 7. Also, the company’s offices were damaged during the Iranian missile attacks, so the team is now temporarily working from Rapyd’s offices in the Azrieli Towers in Tel Aviv.
So far, Octup has raised a total of $18 million. The company also recently named Dror Feldheim, co-founder of Trax, as the new chairman of the board.
With the new funding, Octup plans to hire three times more employees, speed up the development of its AI tools for forecasting and handling issues, and grow its presence in the North American market.
Octup helps third-party logistics companies (3PLs) and e-commerce brands grow by making their logistics smarter and more efficient. Its AI-powered platform connects to systems like WMS, ERP, and shipping tools to bring all the data together in one place.
The platform provides easy-to-understand dashboards, automates billing, tracks service level agreements (SLAs), manages labor, and sends real-time alerts to help teams stay on top of their operations.
“3PLs are the backbone of eCommerce, and they deserve better software,” said Alon Partuk, CEO and Founder of Octup. “We’re building the platform that helps them operate smarter, move faster, and deliver more value to their clients. This funding is a major step forward in that mission.”
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