NEWS: CargoMate close £500,000 seed round
28 Jun 2018
Port call optimisation platform to use funding to expand their team and continue product development
London, UK: Shipping technology startup CargoMate has closed a £500,000 seed investment round. The investment allows the company to continue the development of their port call optimisation platform for container ships and expand the number of shipping companies they work with.
CargoMate, who have been piloting their technology with a major ship operator since December 2017, reduce turnaround time for container ships in port by providing real-time port productivity analytics to vessels and fleet management departments. On closing the funding round, CargoMate CEO Chris Jones said; “Closing our seed round is a major milestone for the business, giving us the capital we need to continue to improve our product and begin partnering with container line operators to improve the efficiency of their fleet.”
The CargoMate platform gives vessel operators full visibility of cargo operations and predicts the earliest time a ship can leave port. Because it is deployed to the ship, it doesn’t rely on any terminal infrastructure so works in every port worldwide.
About CargoMate: CargoMate Technologies is a seed stage shipping technology startup. Their groundbreaking platform accurately forecasts cargo completion time far in advance of current methods. This helps container ship operators anticipate delays, reduce turnaround time in port, save money on fuel and reduce their environmental impact. Available in every port worldwide, it offers unrivalled real-time port visibility and performance reporting.
Based in London, CargoMate is a fast growing team of maritime professionals and software engineers working to harness emerging technology to make ships more efficient and environmentally friendly.