Ship Angel, a transformative AI-native platform for international shippers, announced it has raised $5 million in funding co-led by Glasswing Ventures and newark venture partners (nvp), with participation from Bienville Capital, Socii Capital, and Plug and Play. This funding supports the expansion of Ship Angel’s ocean and air freight Rate Management Platform, including the launch of two AI-powered solutions designed to optimize beneficial cargo owners’ (BCOs) workflows. These solutions were unveiled at the Plug and Play Silicon Valley June 2024 Summit.
Ship Angel’s two new products (Contract Amendment Guard and Invoice Audit) have essential automations to the rate management process and provide substantial improvements to BCOs’ bottom lines. Amendment Guard works as a central line of communication between carriers/forwarders and shippers to identify the changes on every surcharge, free time change, and transit time change. And with Ship Angel’s AI-Powered Invoice Auditing, BCOs can store bookings in a digital environment where they are matched with exact dates (e.g., sailing or received on terminal) and actual rates. The AI flags inconsistencies, reducing the error rate and saving countless hours of manual labor.
KEY QUOTES:
“BCOs are among the most underserved global shipping segments when it comes to modern, high-quality logistics technology. The shipping industry has reached a pivotal moment where complexity, unpredictability, and cost have skyrocketed and are unmanageable using spreadsheets. Ship Angel addresses these challenges head-on with innovative AI-native SaaS solutions that deliver significant value in efficiency, supply chain performance, and data accuracy. We are excited to have the backing and expertise of Glasswing Ventures and Newark Venture Partners as we scale the business and accelerate the development of innovative solutions that revolutionize the BCO product suite.”
- Graham Parker, Co-founder and CEO of Ship Angel
“Ship Angel’s best-in-class AI-native software, industry expertise, and focus on delivering an exceptional user experience will set a new standard for the global digital shipping industry. The team recognizes first-hand the biggest headaches in the industry and has a strong plan for how to leverage AI to positively impact the day-to-day work of BCOs.”
- Rudina Seseri, Founder and Managing Partner of Glasswing Ventures
“Ship Angel’s AI rate management platform represents a significant leap forward in providing transparency and control at the rate card level. By empowering BCOs and shippers to directly engage with ocean carriers, Ship Angel is revolutionizing how logistics operations are managed, paving the way for a more efficient and collaborative shipping ecosystem.”
- Thomas Wisniewski, managing partner for nvp
