Instafreight raises US$40 million

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

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

According to Instafreight, European supply chains have been severely strained by the pandemic and the Ukraine war. The startup aims to make these supply chains more resilient and efficient through a digital model. The company says there are about 30 percent empty runs in European overland transport. The platform solution aims to make these unused transport opportunities more accessible and coordinated for companies. "Land transportation remains highly inefficient and we as Instafreight are taking a technological approach to make it more sustainable and efficient, thereby doing our part to secure global supply chains," said 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, according to its own figures, carries out thousands of transports every week. For this purpose, the platform bundles more than 25,000 freight companies.