Logistics Market Intelligence Newcomer Raises Funds

Press Release
Friday, April 12, 2013

Norway-based Xeneta gets funding to advance their comparison engine to the shipping industry & expand into new markets.

The company, a price comparison service for sea freight, say they have received €1.2m in institutional financing. The round was led by Stockholm based venture capital firm Creandum with Norwegian private investment company Alden co-investing.

Using the principle of crowdsourcing, Xeneta delivers transparency to an industry burdened with supply chain complexity and hidden rates. Xeneta’s SaaS platform represents a new generation of open information links in shipping, allowing freight buyers and sellers to compare their rates both to the market average-and best-in-class rates. Since its inception last year, the company has managed to grow its coverage to over 125.000 data points per month on 1.100 port-port combinations to and from Europe.

Right now we’re on an aggressive path towards covering the whole of Europe when it comes to trade lanes in-and out of the continent,” said Xeneta co-founder Thomas Sørbø. “We have our sights at global coverage, and the €1.2 million in funding allows us to further strengthen our team and continue broadening our international presence.”

The Xeneta team includes professionals who, after established careers in the shipping and logistics industry, left their posts to start Xeneta. They sought to pioneer changes in an industry beset with highly volatile prices and lack of marketplace transparency.

“What the Xeneta team is doing is unprecedented in the shipping industry – we’re eager to help them accelerate their vision” said Paal E. Johnsen, CEO of Alden. “It’s refreshing to see a company addressing real issues, with a pragmatic solution.”

 

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Long Beach Port to Boost Power, Speed Clearance

Port of Long Beach Chief Executive Jon Slangerup on Thursday unveiled ambitious plans for congestion-beating smart systems for cargo movement and an all-out

31 ARENA Projects Completed

ARENA has invested $1 billion in more than 230 projects, fellowships and scholarships that are paving the way for a more diverse energy future for Australia.

Gazprom, OMV Ink Additional Deal

Vienna hosted today the signing of an Addendum to the existing contract for gas supply to Austria between Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee and Gerhard Roiss,

New Products

Imabari to Construct Newbuilding Dry Dock

In order to accommodate construction of Ultra-Large newbuilding vessels including recently secured 20,000TEU Mega container ships (about 400m in length and about 59m breadth),

Long Beach Port to Boost Power, Speed Clearance

Port of Long Beach Chief Executive Jon Slangerup on Thursday unveiled ambitious plans for congestion-beating smart systems for cargo movement and an all-out

Imabari Bags Order for 11 ULCCs

Imabari Shipbuilding Co., Ltd. (Imabari), with the cooperation of Marubeni Corporation, has secured newbuilding order for eleven (11) units of 20,000TEU Ultra-Large Container Carriers,

Finance

Gazprom, OMV Ink Additional Deal

Vienna hosted today the signing of an Addendum to the existing contract for gas supply to Austria between Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee and Gerhard Roiss,

Strategic Sale of Braemar's H.O.

On 27 January 2015 Braemar Shipping Services Plc exchanged contracts for the sale of our leasehold interest in our Marylebone corporate headquarters to Greenhouse

31st Edition of Cruise Shipping Miami

Cruise Shipping Miami 2015 is gearing up to offer the most comprehensive and robust roster of panel discussions featuring the industry's most knowledgeable and experienced executives.

Logistics

Long Beach Port to Boost Power, Speed Clearance

Port of Long Beach Chief Executive Jon Slangerup on Thursday unveiled ambitious plans for congestion-beating smart systems for cargo movement and an all-out

Gazprom, OMV Ink Additional Deal

Vienna hosted today the signing of an Addendum to the existing contract for gas supply to Austria between Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee and Gerhard Roiss,

Stolt-Nielsen Q4 Profit Misses Forecast

Shipping firm Stolt-Nielsen reported fourth quarter earnings below forecasts on Thursday and said it was concerned about the outlook for the chemical tanker market,

 
 
Maritime Contracts Maritime Standards Navigation Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1513 sec (7 req/sec)