Last-mile logistics firm Bringg raises $30 million tomeet growing demand for home delivery
Delivery logistics platform Bringg has raised $30 million in funding as it scalesup its operations to meet expanding demand for its services amid the pandemic. The “series D” round was led by Viola Growth, with participation fromexisting investors Next47, Salesforce, OG Tech Ventures, and GLP. It followsearlier rounds including a $25 million round in 2019 and a $12 million round in2018, and brings the firm’s total funding to $83.3 million.
Tel Aviv, Israel-based Bringg, which describes its product as a “deliveryorchestration platform,” said the new backing comes at a time when logisticsoperations and drivers are struggling to meet rising demand for delivery servicefrom consumers anxious to avoid physical storefronts. Over the first seven daysof April, Bringg said it recorded 77% growth in deliveries, including a 113%jump for restaurant orders. And in the month of March, the firm saw increasesof 80% for groceries, 54% for restaurant deliveries, and 8% for retail orders.
“Covid-19 has brought the economy to a standstill and has many investorsrethinking their portfolios,” Bringg CEO Guy Bloch said in a blog post. “Butwhile the coronavirus has had some negative effects on the market, it hasaccelerated the delivery economy in numbers that were not expected for a fewmore years.” Bringg says its platform can help companies keep up with thatdemand by allowing them to orchestrate, manage, measure, and track theirentire delivery ecosystem, whether they’re using in-house fleets, third-partyproviders, or both. n
Logistics Plus Inc., a worldwide provider of transportation, logistics, and supply chainsolutions, has recognized fourof its less-than-truckload (LTL)carrier partners for superiorperformance in 2019. The honorees are Estes Express and
FedEx Freight (national LTLcarriers of the year), and WardTransport & Logistics andDayton Freight (regional LTLcarriers of the year). … ACDElektronik GmbH, a makerof portable devices, has wonthis year’s iF Design Awardfor its M2Smart mobile handheld computer. The awardsare given out yearly by independent design institution iFInternational Forum DesignGmbH in Hanover, Germany.… EnerSys, a provider ofenergy solutions for industrial applications; East PennManufacturing Co., a makerof automotive batteries; andAK Material Handling Systems,a rack and storage systemsdistributor, have earned2020 Most Valuable Supplier(MVS) awards from theMaterial Handling EquipmentDistributors Association(MHEDA). The MVS awardsrecognize MHEDA membercompanies for their commitment to safety, continuingeducation, industry best practices, and their community. …Technology consulting firmCoastal Cloud has recognizedClark Material Handling Co., amanufacturer of forklift trucksand spare parts, with a CoastalCloud Innovation Award for2020. Clark received the awardfor its continuous efforts toincrease productivity and efficiency through a technologicaland digital transformation.
ACCOLADES
Fortna names 27-year GEveteran McKeel as its new CEO
Supply chain systems design and integration firm FortnaInc. has chosen a veteran executive from General ElectricCo. (GE) as its CEO. In his new role, Robert McKeelwill be responsible for “maximizing operational performance, delivering best-in-class service to Fortna’s globalclient base, and driving business results forward,” thecompany said in a statement. He will also be charged with growing the business both organically and through acquisition, with a specific emphasis on thediversification of markets and clients.
McKeel most recently served as president and CEO of GE’s Automation andControls division, a job that represented the capstone of a 27-year career at GE.While he’s new to the logistics industry, McKeel says his role at Fortna alignswell with his experience leading business units in high-growth missions andlaunching or expanding products into new sectors.
As McKeel looks at the broader logistics sector, he says the entire ecosystem is on the verge of accelerating its investment in new technologies, in acontinuing effort to ramp up fulfillment services to keep pace with the e-tailgiant amazon.com inc. That is already pushing warehouses in general toward afaster-than-expected uptake of automation platforms such as robotics, he said.
At the same time, many retailers and logistics service providers are experiencing a de facto “stress test” on their supply chain systems and tools, causedby the widespread closures and quarantines being levied to slow the spread ofthe coronavirus. “My guess is that many companies are going to find issues inthose systems,” McKeel said. n
