Supply chain startup Portcast announced it secured a $6.5 million Series A Round, led by Susquehanna Asia VC. The round also saw participation from new and existing investors, such as Hearst Ventures and Wavemaker Partners.
“Portcast has tapped into both public and proprietary data that brings accurate and explainable transportation visibility. But what sets them apart is their ability to turn that data into practical, actionable insights for their customers,” said Richard Hsu from Susquehanna Asia VC in a statement. “We’re excited not only by what Portcast has already accomplished but also by its potential to solve more challenges in global trade with its unique data approach.”
Portcast collects data, such as shipping carriers, geolocation information and risk assessments to provide logistics service providers with recommendations and alternative actions to improve productivity. The company uses machine learning and large language models to analyze its data, but with the new funding, it will invest in its AI tech to further bolster its services.
Portcast’s funding further cements the region as an ideal logistic hub for Southeast Asia. This announcement follows Olea, another Singapore-based supply chain company, which secured $100 million in financing earlier this month.
