Portcast Secures $6.5M Series A for AI-Driven Supply Chain Visibility

Deal News | Nov 18, 2024 | PR Newswire Cision Portcast

Portcast, a leading provider of real-time supply chain transparency and predictive analytics, announced a successful Series A funding round of $6.5 million, spearheaded by Susquehanna Asia Venture Capital and joined by Hearst Ventures, Signal Ventures, alongside existing investors such as TMV, Innoport, and Wavemaker Partners. Based in Singapore, Portcast leverages proprietary machine learning technologies and generative AI to offer transformative insights for the transportation sector, integrating multiple data sources through a singular API. This funding will accelerate product innovation in risk management and transport planning, enhance partnerships, and expand outreach in the Asia-Pacific and European markets. Nidhi Gupta, CEO and founder, emphasizes that amidst increasing global supply chain interruptions, predictive analysis to preempt and mitigate delays while managing costs has become essential. Portcast's data-driven approach aims to strengthen global trade resilience by delivering actionable insights.

Sectors

  • Supply Chain Management
  • Artificial Intelligence

Geography

  • Singapore – Singapore is the location of Portcast's headquarters and plays a significant role in its business operations.

Industry

  • Supply Chain Management – Portcast operates in the supply chain management industry, offering solutions for real-time supply chain transparency and predictive analytics.
  • Artificial Intelligence – Portcast uses AI technologies like machine learning and language models to enhance supply chain operations.

Financials

  • $6.5 million – Series A funding raised by Portcast.

Participants

NameRoleTypeDescription
PortcastTarget companyCompanyA Singapore-based company providing real-time supply chain transparency and predictive analytics using AI technology.
Susquehanna Asia Venture CapitalLead investorCompanyVenture capital firm leading the Series A funding for Portcast.
Hearst VenturesInvestorCompanyVenture capital firm participating in Portcast's Series A funding.
Signal VenturesInvestorCompanyVenture capital firm participating in Portcast's Series A funding.
TMVInvestorCompanyExisting investor continuing their support in Portcast's Series A round.
InnoportInvestorCompanyExisting investor continuing their support in Portcast's Series A round.
Wavemaker PartnersInvestorCompanyExisting investor continuing their support in Portcast's Series A round.
Nidhi GuptaCEOPersonFounder and CEO of Portcast.