Nexxiot Announces $25M Funding Round Led By QVIDTVM
Swiss-based big data company Nexxiot, a pioneer in global supply chain digitization, announced it will receive a new $25M funding round led by U.S. investment firm QVIDTVM, signaling the company’s continued expansion and accelerating its global growth agenda.
An innovator in the IoT space, Nexxiot specializes in digitizing non-powered cargo transport assets, increasing their trackability, control, safety and security. The company’s solutions are now deployed in more than 160 countries, making Nexxiot one of the most significant global Clouds in the logistics industry. Nexxiot’s vision is to facilitate a five percent reduction in global supply chain CO2 emissions by increasing cargo transport efficiency and eliminating waste caused by empty runs and inefficient routes.
“We are pleased to partner with QVIDTVM who bring great experience in tech, innovation and disruption. This financing will fuel our growth, further improve our technology to create client success and push ahead with our North America expansion. Through this partnership, we will maintain our lead and continue to offer our clients best-in-class technology, services and ideas,” said Nexxiot CEO Stefan Kalmund.
“We invest in companies with technologies and business models that have the potential to revolutionize markets. Nexxiot has created a unique solution to an important problem. We are convinced of the company’s innovative strength and see the digitization of large logistics fleets as a powerful means of making supply chains more robust and efficient,” added Max Raskin, a partner of QVIDTVM.
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Nexxiot took an early lead in the digitalization of the railcars and other non-powered industrial assets like intermodal and tank containers. Nexxiot is optimizing business processes in a $1 trillion industry and increasing transparency and accountability in international supply chains. The devices meet Switzerland’s renowned quality and reliability standards in some of the most demanding operating environments and are maintenance-free for a minimum of six years. Both the hardware and intelligent cloud platform are accessible via a flexible subscription model. Critically, all Nexxiot devices are certified for dangerous industrial environments where explosions are a real risk and include the highest standards of HazLoc certification for the U.S. market.
Customers select Nexxiot because it has deep experience with hardware and data analytics and has been working with >1.2 billion Big Data points per month processed on its intelligent logistics Cloud. This track record is of particular importance as the process is now underway to evaluate and equip the best technology onto the North American rail fleets totaling around 1.8 million railcars.
A strong client focus, high-quality standards, Swiss precision and secure, military-like data security standards have paved the way for Nexxiot’s growth. In just five years, the company has transitioned to one of the largest rail freight and tank container IoT providers, operating in more than 160 countries. Nexxiot strongly believes in an open ecosystem with a background in cutting-edge technology where easy integration of sensors and third-party devices comes as standard. This open ecosystem means clients can be sure their choices are supported, and interoperability is guaranteed. Nexxiot has been working with many of the major U.S. rail clients for several years to integrate the market’s unique technological and regulatory needs.
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