<article>Logistics technology company <a href="https://www.dealstreetasia.com/?s=Freightos">Freightos</a> announced that it has raised $44.4 million in a Series C funding round led by <a href="https://www.dealstreetasia.com/?s=Singapore%20Exchange">Singapore Exchange</a> (SGX) to further scale its online marketplace for international shipping.</article>

Logistics technology company <a href="https://www.dealstreetasia.com/?s=Freightos">Freightos</a> announced that it has raised $44.4 million in a Series C funding round led by <a href="https://www.dealstreetasia.com/?s=Singapore%20Exchange">Singapore Exchange</a> (SGX) to further scale its online marketplace for international shipping.
The latest funding round brings Freightos&#8217; total funds raised to date to $94.4 million.
In a statement posted on its website, Freightos said the funding round was also joined by new and existing investors, including <a href="https://www.dealstreetasia.com/?s=General%20Electric Ventures">General Electric Ventures</a>, <a href="https://www.dealstreetasia.com/?s=ICV">ICV</a>, <a href="https://www.dealstreetasia.com/?s=Aleph">Aleph</a>, and others.
Since its July 2016 launch, the Freightos Marketplace claims to have grown exponentially, with a 600 per cent increase in orders as of last year. It has also expanded its marketplace from price comparison to instant booking, online shipment management, tracking, and communication.
The company, headquartered in Hong Kong with operations in Jerusalem, said it has an expansive network of over 1,200 logistics providers and has accumulated the world’s largest global database of multimodal freight rates.
The Freightos global rate database also drives the <a href="https://www.dealstreetasia.com/?s=Freightos%20Baltic Index">Freightos Baltic Index</a> (FBX), an up-to-date container freight index in collaboration with the Baltic Exchange, which is part of the SGX group.
With its investment, SGX will explore the development of financial instruments, beginning with enhancements to the FBX container freight index shifting to daily reporting, the company said.
Freightos technology already digitises operations for over 1000 logistics providers and global supply chain companies, including Nippon Express, CEVA Logistics, Hellmann Worldwide Logistics, and Sysco Foods.
In August 2016, Freightos acquired WebCargoNet, a Barcelona-based technology provider of air cargo rate management and eBookings.
“The meteoric growth of the Freightos marketplace and success of our platform for freight rate management and digital sales, shows that importers and exporters are looking for radically better freight services, while carriers and forwarders are eager to deliver by leveraging technology,” said Zvi Schreiber, CEO and founder of Freightos.
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The funding round was also joined by new and existing investors, including General Electric Ventures, ICV, Aleph, and others.

Singapore Exchange leads $44.4m round for logitech firm Freightos

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Singapore Exchange leads $44.4m round for logitech firm Freightos

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