AI-first company Raft raises $30M in Series B funding

Intelligent logistics platform Raft recently announced the successful completion of its Series B funding round, raising $30 million in investment. Founded in 2017, Raft—formerly known as Vector.ai helps key players in the logistics industry apply AI to their daily tasks and customer interactions.

James Coombes, CEO and Co-Founder said, "We see AI as an enabling force for a new way of working in logistics. AI can help make sense out of complex and sometimes chaotic human processes, allowing them to be completely digital for the first time as well as more efficient and collaborative."

Raft’s platform is driving a step-change in automation but it has also created a natural opportunity for Raft to bring its data and insights to the customer-facing side too, an intention clearly demonstrated with its release of a digital shipment portal, which helps freight forwarders and customs brokers to bridge the gap with their end-customers.

"We are excited to partner with Raft on their path to help the global logistics industry scale through automation and data-driven decision-making," said Michael Treskow, Partner at Eight Roads.

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