Starboard – an emerging leader in AI-based logistics solutions – announced it raised $5.5 million in funding led by Eclipse, with participation from previous backers Garuda Ventures and Everywhere Ventures.
This funding round will advance Starboard’s mission to create the default digital platform for global trade, expanding its engineering team in Toronto and accelerating its AI-based product development to simplify supply chain complexities.
With global trade growing more complex, the logistics industry is pressured to adapt. And recent events like the U.S. port strike highlight the vulnerability of the global supply chain and the critical need for innovative solutions to streamline operations and reduce costs for operators.
Starboard is the virtual infrastructure for global trade, enabling freight companies to leverage AI and machine learning to optimize their operations. And this includes processing shipments in real-time, reconciling invoices, following up on payments, and more.
With strong demand for AI-based logistics, Starboard’s tools have demonstrated the ability to reduce operational expenses by up to 50%, enabling smaller freight businesses to focus on strategic tasks and improve competitiveness in a complex industry.
Since launching its AI-based platform, Starboard has grown shipment counts and is planning to reach $2M ARR in 2025. Recent product milestones include the launch of the Starboard Control Tower, which helps freight forwarders streamline shipment operations. And their AI reduces manual data entry, automates document generation, handles regulatory filings, and follows up with vendors, making global trade easier and more efficient. It also launched a real-time quoting tool that leverages AI and machine learning to enhance quoting accuracy and speed.
With this funding round, Starboard will continue to build a robust engineering team based in Toronto and accelerate its product roadmap.
KEY QUOTES:
“This investment is a pivotal step in our mission to unlock the power of AI for our customers. Global trade has long been plagued by inefficiencies that drive up costs and reduce competitiveness. Our platform is designed to empower SMB freight forwarders—the backbone of more than $20 trillion in global trade and $1 trillion in logistics spend—with the tools they need to thrive in this complex ecosystem.”
- Sumeet Trehan, Co-Founder and CEO of Starboard
“As global trade becomes increasingly complex, there is a growing need for AI-driven transformation in logistics. By addressing these complexities, the Starboard team is delivering solutions that make logistics more efficient and accessible, empowering companies of all sizes — and economies — to thrive.”
- Kaitlyn Glancy, Partner at Eclipse
“Starboard’s successful funding round demonstrates Toronto’s growing strength as a global hub for AI and logistics innovation. As Toronto continues to enable and grow transformative companies like Starboard, we’re seeing the real impact of combining artificial intelligence with traditional industries to solve global challenges.”
- Stephen Lund, CEO of Toronto Global
“It will take a special combination of domain expertise and technological savvy to truly penetrate this market. That’s why we were thrilled to partner with Sumeet and the Starboard team earlier this year as they got started, and excited to welcome Katilyn and Eclipse to the team as we reimagine logistics and global trade with AI.”
- Rishi Taparia, Co-Founder and General Partner at Garuda Ventures
“Starboard has, within record time, gained investor and customer confidence. This successful seed fundraise is a testament of the potential we see in the big idea and initial solution portfolio.”
- Kamal Aissa, Partner at Kearney, MEA
