Freightos

From Wikipedia, the free encyclopedia
Freightos Ltd
Freightos
TypePrivate
Required
IndustryLogistics
FoundedJanuary 1, 2012
FounderZvi Schreiber, CEO
Headquarters
Hong Kong
ProductsFreightos Marketplace, Freightos AcceleRate, Freightos WebCargoNet
Websitewww.freightos.com

Freightos operates an online international freight marketplace,[1] using a SaaS-Enabled Marketplace model.[2] It also provides multimodal freight sales and booking automation for freight forwarders and carriers through WebCargo, a subsidiary acquired in 2016[3][4]

The online freight marketplace, which launched in July 2016, enables online quoting booking of freight quotes, as well as shipment management.[5] The platform is also used by partners, like Alibaba.com[6] or Tradeling.

History[]

Freightos was founded in January 2012 by Zvi Schreiber. Schreiber has previously founded and managed other start-up companies including companies acquired by IBM and GE. The first beta customers of Freightos went live in October 2012 and the SaaS service was commercially launched in March 2013. Freightos raised initial funding from OurCrowd.[7] Freightos is the trading name of Tradeos Limited, a Hong Kong company. Freightos is member of Airforwarders Association since January 2013[8] and TIACA since 2021.

In August 2016, Freightos bought Spanish startup WebCargoNet,[9] which later was marketed at WebCargo by Freightos. A similar, India-based air cargo rate management solution, Air Freight Bazaar, was acquired by the company in 2019.[10]

In March 2017, Freightos raised $25 million in Series B funding led by GE Ventures bringing the company's total funding to $50 million.

In April 2018, Freightos launched a daily containerized index, called the Freightos Baltic Exchange Index (FBX).[11] This is widely used as an indicator of global container prices.[12][13]

In September 2018, Freightos announced a $44.4 million dollar Series C funding round, led by the Singapore Exchange (SGX) and together with previous investors, including Aleph and More VC (previously ICV).[14] During the interview, Freightos founder Zvi Schreiber also mentioned the company's aspirations to connect carriers, like airlines, directly to forwarders and shippers.

Freightos Marketplace Overview[]

On July 26, 2016, Freightos launched the world's first online marketplace for international freight (SimpliShip was the first),[15] providing instant comparison, booking, and management of freight services from multiple logistics providers.[16][17] Over time, a number of partnerships related to this endeavor were announced, including direct booking with CMA CGM,[18] a top-five ocean liner.[19]

WebCargo Main Features[]

WebCargo provides features for uploading freight pricing contracts in Excel, a database for freight rates, and a module for automatic freight and quotations on the Web. The quotation algorithm includes routing of door-to-door freight services.[20] This supports exchanging quote requests and quotes between freight forwarders and their agents.

In 2018, cargo airlines began to offer increased connectivity for air cargo pricing and capacity. In July 2018, Lufthansa became the first airline to offer direct rates for forwarders on the platform.[21] This was followed by additional airlines, including:

  • Air-France/KLM in April 2019[22]
  • IAG Cargo (British Airways and Iberia) in July 2019[23]
  • SAS Cargo in November 2019[24]
  • Etihad in February 2020[25]
  • AirBridgeCargo in June 2020 [26]
  • Qatar Airways in January 2021 [27]
  • Tap Air Cargo in January 2021 [28]

See also[]

References[]

  1. ^ Magee, Christine. "With A Fresh $14M, Freightos Wants To Power The Global Freight Industry". TechCrunch. Retrieved 2016-08-01.
  2. ^ "How SaaS is bringing B2B marketplaces back". VentureBeat. Retrieved 2016-08-01.
  3. ^ "Qatar Airways to offer capacity through WebCargo digital platform". FreightWaves. 2021-01-20. Retrieved 2021-03-24.
  4. ^ "Hellmann completes Freightos AcceleRate rollout - Asia Cargo News". www.asiacargonews.com. Retrieved 2016-08-01.
  5. ^ "Freightos aims to make shipping easier, cheaper". Retrieved 2016-08-01.
  6. ^ "Alibaba adds financing tools and online trade shows for US merchants". TechCrunch. Retrieved 2021-03-24.
  7. ^ Abel, Shira (June 2013). "FreightOS: Bringing sexy back to the freight industry". TheNextWeb
  8. ^ Airforwarders Association Member, January 2013
  9. ^ Phillips, Erica E. (2016-08-31). "Freightos Buys Air-Cargo Rival to Boost Online Marketplace". Wall Street Journal. ISSN 0099-9660. Retrieved 2016-09-08.
  10. ^ Muir, James. "WebCargo acquires Air Freight Bazaar | AIR CARGO WEEK". Retrieved 2021-03-24.
  11. ^ "Baltic Exchange and Freightos to launch global container freight index". www.insidemarine.com. Retrieved 2021-03-24.
  12. ^ "Container-shipping costs have surged in recent months". The Economist. 2021-02-11. ISSN 0013-0613. Retrieved 2021-03-24.
  13. ^ Reuters Staff (2020-11-18). "Container freight rates soar on consumer goods boom, supply chain kinks". Reuters. Retrieved 2021-03-24.
  14. ^ "Logistics startup Freightos raises $44.4M Series C led by Singapore Exchange". TechCrunch. Retrieved 2021-03-24.
  15. ^ "SimpliShip". American Shipper.
  16. ^ "Introducing the Freightos Marketplace - Freightos". Freightos. 2016-07-26. Retrieved 2016-07-28.
  17. ^ |Wednesday, Eric Johnson; 27, July; 2016. "Freightos launches freight rate marketplace". American Shipper. Retrieved 2016-07-28.CS1 maint: numeric names: authors list (link)
  18. ^ "Business is Good but Cost Cuts are Coming at CMA CGM". The Maritime Executive. Retrieved 2021-03-24.
  19. ^ "PublicTop100". alphaliner.axsmarine.com. Retrieved 2021-03-24.
  20. ^ American Journal of Transportation, 5 April 2013
  21. ^ "Instant, Online Air Cargo eBooking Unveiled In Major Lufthansa Cargo-Freightos Launch - Lufthansa Cargo". lufthansa-cargo.com. Retrieved 2021-03-24.
  22. ^ "Dynamic pricing arrives in air cargo with AF KLM and WebCargo". Air Cargo News. 2019-04-23. Retrieved 2021-03-24.
  23. ^ "IAG Cargo links API to Freightos WebCargo to offer dynamic pricing | Air Cargo World". 2019-06-04. Retrieved 2021-03-24.
  24. ^ "SAS Cargo Group to Launch Full Digital Air Cargo Capability with WebCargo". CAAS /// Cargo Airports & Airline Services. 2019-11-26. Retrieved 2021-03-24.
  25. ^ Graham, James. "Etihad Cargo partners with Webcargo By Freightos to expand reach | AIR CARGO WEEK". Retrieved 2021-03-24.
  26. ^ "Qatar Airways Cargo adds digital booking through WebCargo | Air Cargo World". 2021-01-21. Retrieved 2021-03-24.
  27. ^ "Qatar Airways Cargo adds digital booking through WebCargo | Air Cargo World". 2021-01-21. Retrieved 2021-03-24.
  28. ^ TIMES, The STAT TRADE. "TAP Air Cargo to offer freight forwarders real-time e-bookings on WebCargo". STAT Times. Retrieved 2021-03-24.

External links[]

Retrieved from ""