The Shipping Industry Will Never Be The Same: Behind Our Investment in Cargoplot
Funding alert! Our first 2021 investment is a fact. Another awesome company in our portfolio: Cargoplot, welcome to the ASIF Ventures family! Cargoplot has raised a round of €425k of ASIF alongside other angels. In this short piece, we’ll share why we’re so excited to partner up with this strong founding team. Before we deep-dive into our investment decision, a short recap on the new standard in the shipping industry:
Cargoplot is an online platform that connects e-commerce importers with expert freight forwarders (the travel agents of freight) thereby making it faster, simpler and more streamlined to move cargo internationally.
Cargoplot leverages state-of-the-art tech, to create a unique algorithm that automates the matching process between e-commerce importers and freight forwarders. Additionally, they optimize the communication between the two parties. By doing so they will generate unique data in a sector in which very little data is historically available.
The team experienced exponential growth over the last months and brings transparency and a data driven approach to an obscure and low digitized sector.
The driver behind the change: the Team
It shouldn’t be a surprise that to us, as an early-stage investor, the team holds the key to success. When we first met the CEO Maarten a while ago, he was the founder of Frefort, a startup that operated within the logistics sector. Our team was extremely impressed and enthusiastic about Maarten’s drive and passion to reshape the sector. With a thorough knowledge on the sector and a solid founder-market fit, we knew he was up to something great. Now, with a different team and a new approach, they are aiming to revolutionize the freighting space through connectivity and transparency.
The team consists of the highly talented technical developers: Daniel, the CTO, who has a background in Artificial Intelligence and holds a PhD in cognitive psychology; and Henk-Jan, the CIO, who has 13 years of experience as a senior software developer building complex data architectures. Their strong yet diverse technical background allows them to focus on different aspects of Cargoplot’s technical solution. The raised capital will give them the time and means to improve their product and boost sales to develop Cargoplot into the full-fledged platform the team envisions.
Apart from the team, skills, network and validation are other key drivers to success. Cargoplot has been fully aware of this since the day they started, as they have surrounded themselves with seasoned entrepreneurs and investors from the logistics sector. We believe that this unique combination of experience, knowledge and drive will be vital in their journey to disrupt this market.
Connecting the dots
Global trade has expanded by 400 percent in the last twenty years, driven by a trillion euro cargo industry. However, the tech used to price, sell, and communicate freight services has barely changed. Finding the best transport solution for different type of cargo is highly time consuming for e-commerce importers. Cargoplot targets this pain point by finding the best transport solution, streamlining the process of transporting cargo in the most cost-effective, transparent, and reliable way possible.
By building a global network of trusted freight forwarders, Cargoplot is able ensure the transportation of cargo even when the market is heated, and while they are at it provide their clients with precise transit times and transportation costs, allowing e-commerce shippers to optimize their business. Additionally, Cargoplot makes it easier for Freight Forwarders to tap into a new market, and optimizes the communication flow of the Freight Forwarder internally thereby creating substantial value beyond lead generation.
Cargoplot is tapping into a growing market. By focusing on the ever-growing trend of e-commerce, Cargoplot is able to secure fast market penetration and user adoption. Due to COVID-19 e-commerce’s share of global retail trade rose from 14% in 2019 to about 17% in 2020.
ASIF X Cargoplot
ASIF Ventures decided to invest in Cargoplot because we believe the freight industry needs this digital transformation, driven by networks and big data to serve contemporary customers. The automated services that Cargoplot envisions, thereby generating value for both shippers and freight forwarders, will bring speed and the ‘economies of networks’ of tomorrow.
We are impressed by Cargoplot’s driven and talented team. The strong industry knowledge they surrounded themselves with allows them to gain unique insights from experienced entrepreneurs and investors alike, which is vital in their journey to disrupt this market. We’re excited to partner up with Maarten, Daniel, and Henk-Jan and cannot wait to take the freighting industry by storm. Once more: Cargoplot, welcome to our ASIF Ventures family!
