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Smartlane, a Munich-based firm that provides AI-based transportation planning solutions, has raised over €6 million in a Series A round of funding.
A total of €4.5 million was contributed by new investor JOVA Direkt Invest GmbH and current investors. The remaining €1.7 million came from EU assistance funds from the European innovation promotion program.
Smartlane will grow its workforce and speed product development to enable autonomous logistics systems to control the dispatch process with the new funding fully.
“We are excited to see Smartlane playing a central role on the digitalization roadmap of many carriers engaged in multi-drop distribution. Our solution cuts the dispatch overhead by up to 90 percent while increasing the reliability and precision of the planning process immensely. This means that the growing volume of shipments can be handled more efficiently even in times of limited resources.”Monja Mühling, Smartlane Co-Founder and CEO
Smartlane, founded in 2015 by Dr. Mathias Baur, Monja Mühling, and Florian Schimandl, has developed “Smartlane Transport Intelligence,” an AI-based program for logistics transport optimization.
In part-load distribution logistics, the company’s software automates the time-consuming manual dispatching and transportation planning process.