Starboard, a Toronto, Canada-based AI-powered logistics solutions company, raised $5.5M in funding.
The round was led by Eclipse, with participation from previous backers Garuda Ventures and Everywhere Ventures.
The company intends to use the funds to build an engineering team based in Toronto and accelerate its product roadmap.
Led by CEO Sumeet Trehan, Starboard is building virtual infrastructure for global trade. Their flagship product is an AI based TMS and rate management system that helps mid sized freight forwarders operate efficiently and win more business. Its team combines legacy industry expertise with advanced technology from companies like Flexport, Maersk, Google and Linkedin.
Recent product milestones include the launch of the Starboard Control Tower, which helps freight forwarders streamline shipment operations. Their AI reduces manual data entry, automates document generation, handles regulatory filings, and follows up with vendors, making global trade easier and more efficient. It also launched a real-time quoting tool that leverages AI and machine learning to enhance quoting accuracy and speed.
FinSMEs
17/12/2024