Bad Oldesloe-based startup SmartLoC, which offers full supply-chain visibility solutions, has raised €1.8 million in a seed round led by High-Tech Gründerfonds (HTGF). The fresh funding will help SmartLoC expand its team and develop its platform.
- Founded in 2021 by Britta Balden, Rajesh Kaul, and Alessandro Vaglini, SmartLoC develops a cloud platform that streamlines B2B payments in international trade, utilizing advanced technologies like IoT, blockchain, and AI to provide a secure, efficient solution for businesses.
- Companies using the SmartLoC platform benefit from real-time shipment monitoring, enabling immediate action on issues, which helps in optimizing costs and reducing CO2 emissions through more efficient routing and transport.
- With offices in Pylaia and Bad Oldesloe, SmartLoC partnered with various firms, including GAEA, Mobo, Arviem, Tive, Port of Hamburg, E.N.A. Consulting, Bold, VisiConsult, and Neo.
Details of the deal
- The funding round was led by High-Tech Gründerfonds (HTGF), a German venture capital firm that invests in tech startups and manages assets worth €1.4 billion.
“We are excited to partner with SmartLoC on their journey to redefine B2B payments for international trade. The team’s deep expertise in finance, technology, and international trade, combined with their innovative approach, positions SmartLoC as a leader in this rapidly evolving market," Senior Investment Manager at HTGF, Martin Möllmann, stated.
- Other investors include Loggerhead Ventures, a fund that supports green and digital transformation solutions in the Greek ecosystem, MBG Schleswig-Holstein, and several business angels.
“We firmly believe in the value proposition of SmartLoC, to bring about supply chain intelligence in international trade and achieve significant CO2 reduction. SmartLoC team combines the business experience and technical know-how needed to grow fast and revolutionize international trade, and we will be supporting their upcoming steps towards expansion, with emphasis on their development and sales activities in Greece,” CEO and GP of Loggerhead Ventures, Evangelos Kosmidis, commented.
- The infusion of fresh capital will enable SmartLoC to advance its platform development, expand its team, and accelerate its go-to-market strategy, with a particular focus on modern and efficient payment solutions.
