Europe based digital road freight startup Sennder announced having raised $160 million from the last investing round it held with its investors on January 14. This leaves the company with a valuation of over $1 billion.
This latest financing round was backed by HV Capital, Lakestar, Scania and Accel. Following this round, Sennder has now raised a total of $260 million since its inception.
The startup established six years ago said it will use the proceeds from the financing round to integrate its technology platform.
Sennder is coming up as a consolidator in the freight tech sector across Europe. The company is based in Berlin however it merged with France based Everoad additionally, it acquired the Europe freight business of Uber Technologies Inc. (UBER) last year.
“Business was very strong in 2020, which is the reason why we had an opportunity to raise more money,” said Sennder’s CEO and co-founder David Nothacker.
Citing the CEO, Sennder is looking forward to have a million truckloads this year.
The company wants to diversify from only providing freight forwarding services to major shippers to offering its software platform as a service to enable shippers digitize their whole logistics setups.