Singapore-based a leading supply chain visibility provider, Portcast has raised US$6.5 million in funding in a Series A round led by Susquehanna Asia VC, with participation from new investors Hearst Ventures and Signal Ventures, alongside existing investors Wavemaker Partners, TMV, and Innoport.
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Portcast will gear the new funding towards product development and specialization, specifically the use of generative AI for risk mitigation, transport optimization, and invoice processing automation.
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Startup will invest funds to expand growth and build partnerships with technology players in the Asia Pacific and Europe’s primary markets.
Nidhi Gupta, founder and CEO of Portcast, said: “Supply chain disruptions have become the norm, driving up costs for shippers and logistics service providers globally. It is no longer enough to monitor shipments; the priority now is to drive actions from visibility data through automated recommendations. That’s why we’re committed to building a product that uncovers risks in transport but more importantly, automatically suggests actions to reduce freight costs and/or improve customer experience.”
“Looking ahead, we’re eager to expand in Asia Pacific and Europe, strengthening partnerships to bring our solutions to even more companies,” she added.
Through its technology, Portcast offers companies visibility into their ocean supply chains and helps decrease the risks associated with this type of supply chain, increasing the value derived from such systems.
The specific mission of Portcast is to provide highly reliable data analysis and intelligence based on advanced technology backed up by its artificial intelligence.
Richard Hsu from Susquehanna Asia VC, commented: “Portcast has tapped into both public and proprietary data that brings accurate and explainable transportation visibility. But what sets them apart is their ability to turn that data into practical, actionable insights for their customers, setting a new benchmark in logistics decision-making.”
About Portcast
Founded in 2017, Singapore-based Portcast operates across APAC to Europe and makes global supply chains better powered and predictive. It increases its profitability by using its features, which factor in dynamic demand and track vessels and containers. Schedule your free trial with Portcast today and take advantage of the enhanced profitability of your logistics business.
