Vizion raises USD 1.5 mn to solve Ocean Freight visibility problem

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(Image Courtesy: Vizion)

On February 17 (Wednesday), Vizion, an API-based solution for ocean freight visibility, announced its $1.5M financing round led by supply chain specialist Dynamo Ventures with participation from 1984 Ventures, Wavemaker Partners, and SaaS Ventures. The funding will drive the continuing maturation of Vizion’s software and the expansion of its early customer base.

Vizion was created to solve for the lack of visibility in maritime logistics. Stakeholders across the maritime logistics ecosystem have struggled with a lack of resilience and flexibility in the face of surging freight volumes due to the global pandemic. Underpinning this is an inability to easily ascertain the real time position of container freight, data silos among companies’ ocean logistics partners, and a resulting inability to proactively manage operations.

Vizion’s data solutions are changing the industry – its customer base of leading freight forwarders, BCOs, and TMS providers expect to manage over 2 million containers in 2021 using the Vizion platform. Further, Vizion’s data processing technology enables it to cover over 97% of ocean carriers shipments while ushering in a new gold standard for ocean visibility data quality.

“In making the Vizion investment, we’re excited to hit ‘reset’ on efforts related to freight forwarding automation. We believe that high level visibility data is the atomic unit that will allow freight forwarders to better serve their customers in an intelligent and overtime, automated manner.” says Santosh Sankar, Partner at Dynamo Ventures.

“The team and I are excited to work with our investors and continue maturing our platform to extend beyond visibility to predictive ETAs. We believe that there is a large and urgent opportunity to support the digitization of global logistics with very practical solutions such as our visibility APIs, data benchmarking, and predictive ETAs.” says Kyle Henderson, CEO of Vizion.

Vizion is a API-based solution for ocean freight visibility. The company’s API helps logistics service providers, cargo owners, and other stakeholders act on their digital ambitions by integrating essential data and insights into existing enterprise systems and deliver a stronger customer experience. Vizion’s products include visibility APIs, data benchmarking, and predictive ETAs.

Sea News, February 23

Baibhav Mishra
Author: Baibhav Mishra