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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Cenac Marine to Christen New Vessel, Donate Barge

A ceremony will be held July 29 at Cenac Marine Services headquarters in, Houma, La. To commemorate the christening of its newest vessel, M/V Quincey Cenac, as

Concordia Maritime Posts Q2 Profit

Facing a “gradually deteriorating market,” Sweden based tanker shipping company Concordia Maritime said it was able to post a profit in Q2 2016 based on high vessel

Brown Named Bureau Veritas Communications Director

Nick Brown has been appointed Bureau Veritas’ new Communications Director, Marine & Offshore Division, the classification society announced.    Brown will take up the post from November 2,

New Products

A Sea Change in Waterjet Technology

Longtime waterjet propulsion equipment provider NAMJet introduces key advancements for the workboat sector. Back in 2011, when boat builder Birdon went looking

Servowatch to Debut New Software at SMM

Integrated ship control systems supplier Servowatch said it will use SMM to launch its new automation and control software, WINMON 9.   WINMON 9 is a singular,

Buy and Sell Vessels from a Mobile Device

The maritime software development company SDSD are launching a new web based VSnP - Vessel Sale and Purchase module, enabling Sale and Purchase brokers to buy and

Finance

Concordia Maritime Posts Q2 Profit

Facing a “gradually deteriorating market,” Sweden based tanker shipping company Concordia Maritime said it was able to post a profit in Q2 2016 based on high vessel

Asia Dry Bulk-Capesize Steady as Owners Spurn Low Rates

Owners anchoring ships rather than fix at low rates. W. Australia-China capesize rates hit over two-month low. Freight rates for large capesize dry cargo ships

Scorpio Bulkers books Net Loss

USA-Monaco based bulk carrier Scorpio Bulkers has reported a loss of $24.7 million in its second quarter of 2016, pushing the carrier's deficit up to $ 83 million.

Logistics

Container-on-barge Returns to Baton Rouge

Container-on-barge services have returned to the Port of Greater Baton Rouge to provide the petrochemical industry with another option to move its products.   Operated by SEACOR AMH,

Asia Dry Bulk-Capesize Steady as Owners Spurn Low Rates

Owners anchoring ships rather than fix at low rates. W. Australia-China capesize rates hit over two-month low. Freight rates for large capesize dry cargo ships

Damen Presents Decommissioning Vessels Concept

Damen Shipyards Group has announced its latest concept design: the Damen Decommissioning Series. The vessel will specialize in three core areas of the oil and gas

 
 
Maritime Careers / Shipboard Positions Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | 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: 0.1092 sec (9 req/sec)