Abu Dhabi – Mubasher: Turvo, the world’s first real-time collaborative logistics platform, on Sunday announced that it has collected about $60 million in Series B funding led by Mubadala Ventures, the San Francisco-based venture capital arm of Abu Dhabi state fund Mubadala Investment Company.
Turvo has also added two new investors, namely G2VP and Next47, the Siemens-backed global venture firm, according to an official statement.
The funding raises Turvo’s total investment to nearly $100 million, making the logistics startup as the new standard in end-to-end visibility and collaboration for the logistics and supply chain industry.
“This round of funding speaks to the power of our software platform and the exponential growth we are seeing in the business,” Eric Gilmore, CEO and co-founder of Turvo, said.
Turvo is working on revolutionising the logistics sector with a groundbreaking internet of things (IoT) software platform that creates the “Internet of Shipping”, connecting people, businesses, applications, and devices in one AI-driven solution.
“We are excited to partner with world-class investors like Mubadala to bring a truly revolutionary platform to a multitrillion-dollar global industry desperate for change,” Gilmore added.
