Cargo monitoring technology specialist Arviem raises $10m funding
Arviem, a Switzerland-based company that provides IoT enabled cargo monitoring and supply chain data analytics services, has raised close to $10m in its series B investment round.
The Series B investment round – which takes Arviem’s total funding to $15m – was led by SICPA, a provider of secured identification, traceability and authentication solutions and services. Additional funds are coming from existing investors Swisscom and Verve Capital Partners, as well as new investors such as hiQ Solutions, Chanco Holding, NEST and private investors. SICPA and some private investors will join the Board of Arviem.
Arviem says that its IoT technology “creates transparency in supply chains, eliminates logistics blind spots by connecting intermodal shipping containers, cargo, vessels, and trailers to a cloud-based data analytics platform”. Arviem added that its “pay per use pricing model sets the company apart from competitors as it enables corporate clients to roll out the service easily, without the burden of introducing new process or investing into hardware, software or staff”.
Stefan Reidy, the founder and CEO of Arviem, said: “To continually support the needs of the industry, the new funding will be used for expanding our service portfolio leveraging the mass of data that we have collected over the years. Developing our services in supply chain financing and supply chain risk profiling with the aim of creating a ‘one-stop-shop service’ (or so-called supply chain service ecosystem) will be our next milestone.”