Forto, a digital freight forwarder that has seen substantial growth throughout the pandemic, has secured an additional $50 million in investment. This brings the total funding raised since its 2016 inception to $103 million.

This funding round was spearheaded by Inven Capital, a growth-stage fund based in the Czech Republic. Further investment was provided by Iris Capital, alongside considerable contributions from existing investors such as Rider Global, Northzone, Cherry Ventures, Unbound (Shravin Mittal), and the Italian venture capital firm H14. Moreover, Maersk, the world’s largest container shipping line, has reportedly increased its previous investment to a noteworthy extent, according to the company.

The platform provides clients with up-to-the-minute data and dependable, on-time deliveries, typically resulting in a 30% reduction in administrative expenses related to their supply chains. It also presents an emissions score for various transportation choices, enabling businesses to monitor their carbon footprint.

Forto intends to utilize this new capital to expedite the advancement of its supply chain management offerings by incorporating order management capabilities and supplementary services. The company will also be broadening its operations in both Europe and Asia, building on its recent establishment of an office in Singapore and the expansion of its presence to a total of five locations across Asia.

“Over the past several quarters, we have considerably surpassed our projected growth and experienced a 300% increase in volume compared to the previous year. This achievement occurred despite difficult market conditions, which have presented companies with significant limitations in capacity and fluctuating rates,” stated co-founder Michael Wax, who jointly leads the company with co-founder Erik Muttersbach and Dr. Michael Ardelt.

Petr Míkovec, CEO of Inven Capital, commented: “We have strong confidence in Forto’s objective to streamline the process of international goods transportation and make shipping containers as straightforward as sending an email. Customers benefit not only from exceptional visibility into their supply chain but also the ability to make more informed and environmentally responsible choices.”

“Forto has demonstrated its value in a sector facing increasing challenges during the global pandemic and is characterized by a prevalence of outdated, non-digital companies,” added Michiel Kotting, a partner at Northzone.

Currently, over 2,500 customers utilize Forto’s supply chain management solutions, including prominent organizations like industrial manufacturer Viessmann, consumer goods leader Miele, and e-commerce brand Home24. The company achieved recognition as a Top 20 Freight Forwarder on routes from Asia to Europe in less than four years of operation.