Freight technology startup Sennder has raised $160 million in Series D funding round — backed by Accel, Lakestar, HV Capital, Project A and Scania.
Sennder raised more than $260 million to date.
Sennder said it would invest the proceeds in its technology platform.
The Berlin-based company has emerged as a consolidator in Europe’s freight-tech sector, merging with France’s Everoad and buying Uber’s European freight business last year, and aims to move a million truckloads this year, Reuters reported.
“Business was very strong in 2020, which is the reason why we had an opportunity to raise more money,” CEO and co-founder David Nothacker said.
Sennder specialises in broking s full-truck loads, a segment that accounts for around a third of Europe’s $350 billion freight sector and has traditionally relied on small trucking companies that work with phone, pen and paper.
In addition to providing freight forwarding services to major shippers like Germany’s Siemens, Sennder wants to offer its software platform as a service so that shippers can digitise their entire logistics setup.
Sennder aims to hit sales of 2 billion euros in the next five years. It makes 400-500 euros per truckload, putting forecast sales this year at around half a billion euros.