Funding of $12 Million Secured for the Development of a 3PL Platform (Third-Party Logistics) by Octup
Octup, a cutting-edge AI operations platform designed for third-party logistics (3PL) providers, has secured $12 million in a Seed round. The funding, co-led by Shine Capital and JAL Ventures, will be used to expand the platform's capabilities and accelerate growth to better serve the 3PL market.
Traditionally reliant on manual processes, the global 3PL market is poised for modernization through Octup's advanced AI product. The platform aims to transform how 3PLs manage operations, serve clients, and scale profitably in a data-driven environment.
The funding will help Octup triple its workforce, accelerate AI-powered product development, and expand its presence in North America. The focus is on innovation and accelerated growth within the 3PL logistics AI sector.
Octup's platform provides unified operational data, real-time analytics, and client portals that enhance visibility and trust. It connects to Warehouse Management Systems (WMS), Enterprise Resource Planning (ERP) systems, and shipping services, offering a comprehensive solution for 3PL providers.
The funding received is considered a major step forward in Octup's mission to build the infrastructure layer for a more transparent, intelligent, and client-centric logistics industry.
Alon Partuk, CEO and Founder of Octup, states the platform is designed to help 3PLs operate smarter, move faster, and deliver more value to their clients. Mo Koyfman, General Partner at Shine Capital, believes Octup is building a real-time OS for logistics, and the market is hungry for it, with the team having deep domain experience and product-led DNA to lead this transformation.
Dror Feldheim, co-founder of Trax, has been appointed as Chairman of the Board at Octup. Feldheim's extensive experience in global operations will guide Octup's growth as it continues to disrupt the 3PL market with its advanced AI technology.
The funding round also includes contributions from Stone Capital, Tal Ventures, and HCS Capital. As Octup continues to grow, it is poised to revolutionize the 3PL industry, making it more efficient, transparent, and client-centric.
The funding obtained will be instrumental in Octup's mission to revolutionize the 3PL industry by accelerating AI-powered product development and expanding its workforce, aiming to make the industry more efficient, transparent, and client-centric. With the investment, Octup aims to build an infrastructure layer for a more intelligent, data-driven, and client-centric logistics industry, transforming traditional business practices in 3PL operations and investing in technological advancements, including artificial-intelligence.
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