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February 8, 2024
Sensos, a Sony Semiconductor spin-off, has raised $20 million in a series A funding round for its supply chain management platform.
The round was led by Mitsui-backed Magenta Venture Partners, with additional investment from JAL Ventures, Israel Cargo Logistics and Sumitomo Corp.
Sensos uses disposable asset tracking labels and an AI-powered cell tower to collect and analyze data on company assets throughout the supply chain, providing logistics teams with real-time insights on the status of their shipments and how they can optimize operations.
The company is working to meet the currently “fragmented” smart logistics industry, providing more of a one-stop-shop for companies to track and monitor inventory from afar, to also improve businesses’ sustainability efforts.
Aviv Castro, Sensos’ CEO, said the platform solves “the lack of actionable data and the need for optimized execution in today’s logistics market.”
“By using the Sensos solution, companies can optimize production planning, inventory levels, and shipping efficiency and at the same time monitor and reduce greenhouse gas emissions meeting ESG regulations,” Castro said.
Sensos customers include Bayer and DB Schenker, providing tracking details across sectors such as cold chain life-science products, consumer electronics, mission-critical shipments and high-value goods.
“Accelerated by COVID-19 and geo-political pressures, supply chain and logistics grow in scale and complexity – yet suffer from lack of real-time actionable data,” said Ori Israely, Magenta’s managing general partner. “We see a growing need for solutions that enable greater supply chain accountability and agility.”
Assistant Editor, IoT World Today
Scarlett Evans is the assistant editor for IoT World Today, with a particular focus on robotics and smart city technologies. Scarlett has previous experience in minerals and resources with Mine Australia, Mine Technology and Power Technology. She joined Informa in April 2022.
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