The Zurich-based data logistics firm Nexxiot has raised a total of 25 million US dollars as part of a financing round, which was led by the US investment group QVIDTVM. With this, the pioneers in the digitalization of railway wagons and containers will be in a position to accelerate its global growth agenda, details of which can be found in a press release. “Through this partnership, we will maintain our lead and continue to offer our clients best-in-class technology, services and ideas”, comments Stefan Kalmund, CEO of Nexxiot, in the press release.
According to information from the company itself, Nexxiot has developed into “one of the largest rail freight and tank container IoT providers” within the space of just five years. The company is also active in more than 160 countries around the world. Nexxiot offers an integrated solution to track, find and protect cargo. As the company explains further in the press release, its devices comply with Switzerland’s renowned quality and reliability standards in some of the most demanding operational environments, while they additionally require no maintenance for at least six years.
Nexxiot’s dedicated logistics cloud stores data from more than 2.5 billion travelled miles (or approximately 4 billion kilometers). At present, the company’s proven track record is of particular relevance due to the fact that a process is now underway to evaluate the best technology for the 1.8 million wagons that make up North American rail fleets. The company’s aim here is to secure efficiency gains that result in a five percent reduction in CO2 across global supply chains.
“We are convinced of the company’s innovative strength and see the digitization of large logistics fleets as a powerful means of making supply chains more robust and efficient”, explains Max Raskin, a partner of QVIDTVM.