Exclusive: Sensos raises $20M Series A for supply chain visibility
Supply chain visibility startup Sensos raised a $20 million Series A, CEO Aviv Castro tells Axios exclusively.
Why it matters: Companies stand to lose millions of dollars when they don't know the condition of their supply chain.
How it works: A spinoff of Sony Semiconductor Israel, Sensos offers a disposable cellular label that can be applied to each package in the supply chain.
- The paper-thin label, similar to a mobile device, can track information like location and temperature with relevant sensors.
- Sensos is partnering with Bayer, DB Schenker, and other companies in the cold chain life sciences as well as in consumer electronics, and those tied to mission-critical shipments and high-value goods.
Zoom out: On top of having too much data, Sensos customers were saying that they needed "to react to loads of problems that are not reflected in any of the data or systems that we have," Castro says.
Zoom in: The company will use funds to establish a U.S.office, as well as further R&D.
- The funding was led by Mitsui-backed Magenta Venture Partners, with participation from JAL Ventures, Israel Cargo Logistics and Sumitomo Corp.