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Quincus, an enterprise SaaS supply chain management platform, has closed an undisclosed Series B funding round led by venture platform AEI HorizonX.
AEI HorizonX joins Quincus’ initial Series B investors Up.Partners and GGV Capital in a round that valued the tech provider at $100 million.
In particular, this latest investment will be used to help expand Quincus’ global footprint with an emphasis on commercial growth in the U.S. The platform seeks to provide the logistics industry with a machine-learning-enabled platform that can optimize and automate shipping operations.
Quincus works with businesses across industries and countries to build smarter, more efficient supply chains. Headquartered in Singapore, it also operates in Indonesia, Malaysia, Mexico, Taiwan, Vietnam, UAE, the U.K., and the U.S. The firm says it transacts more than 70 million shipments per month, serving customers such as airlines operators, freight companies and e-commerce platforms across Southeast Asia.
AEI HorizonX chose Quincus as its first investment based on its ability to connect shippers, operators, and freight forwarders with an open operating system, all while reducing striving to reduce the industry’s overall carbon footprint.