Instafreight raises US$40 million

The Berlin start-up wants to digitize transport processes. This model has convinced new investors.

The logistics start-up Instafreight has raised 40 million US dollars in its Series B financing round. The round was led by Heliad and the European Investment Bank (EIB). All previous investors also participated in the current round. Previous investors in the start-up included Shell Ventures, 683 Capital and Rocket Internet.

According to Instafreight, European supply chains have been severely strained by the pandemic and the war in Ukraine. The start-up wants to make these supply chains more resilient and efficient through a digital model. The company states that there are around 30 percent empty runs in European land transportation. The platform solution aims to make these unused transport options more easily accessible and coordinated for companies. "Land transportation is still highly inefficient and we at Instafreight are using a technological approach to ensure greater sustainability and efficiency, thereby making our contribution to securing global supply chains," says Philipp Ortwein, Managing Director and co-founder of Instafreight.

Ortwein founded Instafreight together with Gion-Otto Presser-Velder in 2016. The company now employs 200 people and says it carries out thousands of shipments every week. The platform bundles more than 25,000 freight companies.