Portfolio company BOX ID secures €3.5M funding round to accelerate product development and business expansion. Streamlining in- and outbound logistic flows for 60+ customers worlwide. BOX ID is recognized innovation leader and finalist in 2024 IFOY award. The company is strategically well positioned to add value to KPN's national and international enterprise customers.
The Munich-based logistics software provider BOX ID has raised €3.5M to further scale its product offering for IoT-based supply chain visibility. The latest financing round was led by KPN Ventures and joined by the former seed investors HTGF, Bayern Kapital and Wille Finance as well as by business angels from the BayStartUP Network. The investment fuels the further development of the company’s SaaS-platform, which is already trusted by global industry leaders in Europe and the Asia Pacific region. Furthermore, it was just announced that BOX ID is nominated for the IFOY Award 2024. This renowned award honors outstanding achievements in intralogistics every year.
Intelligent supply chain management plays a key role in the transformation of today’s industrial logistics towards higher cost-efficiency and sustainability. Optimizing transports, avoiding loss and dispatch errors, maximizing availability, reducing costs and the ecological footprint are the overall goals throughout global logistics. BOX ID SaaS-Platform brings a whole new level of visibility and control to industrial logistics chains in this respect. It directly connects the IT world with its logical models of material stocks and flows with the real-world physical supply chain and its millions upon millions of returnable transport packaging (RTP) units – such as transport containers, boxes, racks, KEGs, swap bodies.
Eliminating waste in logistic process execution
The cloud-based BOX ID solution enables customers to monitor and control their critical inbound and outbound shipments and ensures an optimized flow of their goods and RTP fleets across any number of own and third-party premises as well as in transit. The software provides an intelligent fusion of IoT-sensor data with records from enterprise software, such as ERP and TMS. The outcome is transparent supply chain data and analytics functions to ensure availability, prevent loss and optimize utilization of RTP fleets and other mobile logistic assets.
“We eliminate waste along the supply chain for our customers by automatically monitoring real-time data streams against the targeted processes. Cutting down loss, shortages and misrouted items not only optimizes availability but also saves costs and improves the overall environmental protection” says BOX ID Co-Founder and Managing Director Dr. Wolfgang Vogl. “Today’s logistic asset tracking systems have little to no real-time process context. They create reports so you eventually can analyze what went wrong. Our software constantly monitors your process execution and identifies and prevents errors before they occur.”
Streamlining transport logistics for 60+ customers and leading innovation in the field
The reliability of the BOX ID solution is proven by a fast-growing customer base, which includes more than 60 companies from industries such as Automotive, Machinery, Glass, Wholesale and all kinds of Logistic Service Providers. Currently the geographic focus is on Europe and APAC.
In a highly successful cooperation with Würth Group, BOX ID just created a new platform module that not only controls the transport container flow across the distribution chain but also literally eliminates costly commissioning errors in the distribution centers.
Based on this work, BOX ID has been selected a finalist for the 2024 IFOY AWARD, a VDMA supported competition, that annually assesses outstanding achievements in intralogistics.
Powerful partners for expansion and product evolution
The investment of €3.5M is planned to fuel further extension of product development and business expansion. The latest financing round was led by KPN Ventures and joined by the seed investors High-Tech Gründerfonds (HTGF), Bayern Kapital and Wille Finance AG as well as by the business angels Dr. Georg Hofer, Ulrich Müller-Menrad and Relayr Co-Founder Jackson Bond.
“We aim to partner with sustainable technology startups with a solid vision. With its clear portfolio philosophy and the focus on specific verticals in industrial logistics segments, BOX ID is well positioned to add value to KPN’s national and international Enterprise customers” explains Carolien Nijhuis, Executive Vice President KPN IoT & Dataservices. “BOX ID has a strong team together with a promising market position and positive customer feedback.”
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