‘Sendy’ secures an additional 1 billion KRW in funding, concluding Series B at a total of 7 billion KRW
Sendy, a freight transportation platform startup, has finalized its Series B funding round at a total of 7 billion KRW, following a successful additional investment of 1 billion KRW from existing investors.
This investment followed a Series B investment of 6 billion KRW from KDB Industrial Bank, BNK Venture Capital, Shinhan Asset Management, and Coolidge Corner Investment in July, with participation from existing investor We Ventures in this follow-up funding. With this, Sendy has closed its Series B round with 7 billion KRW, bringing the total accumulated investment to 18.5 billion KRW.
Sendy operates an AI-based freight transportation management platform. The service allows individuals or businesses to conveniently and quickly handle freight transportation through an app or web, from vehicle allocation to transportation and settlement. Through the ‘sendy’ platform, they are improving the logistics environment by efficiently automating inefficient dispatch and transportation tasks, and have achieved automation of the process by systematizing the entire transportation task based on their in-house developed dispatch system and a nationwide unit vehicle network.
Sendy’s logistics innovation proven in the transportation market and technological prowess, including its AI-based in-house developed dispatch system, were highly evaluated in this investment. Factors significantly contributing to the funding include leading improvements in the logistics work environment through digitalization of dispatch and transportation tasks, market innovation, future growth potential, and notable achievements such as entry into the agricultural product transportation market through strategic collaboration.
Sendy plans to use the investment to enhance its competencies through technology sophistication and expand its service areas. Additionally, they plan to hire R&D-related personnel and sophisticate the labeling and analysis of transportation demand and supply data. Moving forward, they intend to expand their service scope to industries or new markets that require digitalization of transportation, based on their experience in entering the agricultural product transportation market.
Yeom Sang-jun, the representative of Sendy, stated, “With this Series B investment, Sendy’s market competitiveness and growth potential have been recognized,” and continued, “The freight transportation industry has seen less investment and slower digitalization compared to other industries, and despite a market size of 37 trillion KRW, it has not experienced significant growth. Sendy has been working for market innovation by taking the digitalization of the transportation market as a major challenge, and we will continue to create services that satisfy both shippers and carriers.”
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