Milestone embraces digital future, management remains active and reinvests in Shypple
Shypple raises €25,5 million in four months, accelerating growth and innovating the freight forwarding industry
Rotterdam, August 9 2021 – Shypple, the Rotterdam-based digital freight forwarding platform, today announces that it has acquired Milestone, a leader in perishable logistics, becoming the first digital freight forwarder in the market for air and ocean freight perishables. By joining forces with Milestone, Shypple adds capabilities to the platform, accelerates market growth and increases global presence, adding offices in Asia, Central America and Europe. In addition, the technology-driven platform raised €25.5 million in four months to accelerate growth and innovate the freight forwarding industry.
By integrating Milestone’s capabilities to the platform, Shypple becomes the first digital forwarder for perishables, simultaneously expanding its presence in Asia, with seven offices in China, and locations throughout Europe and Central America. The revenue is expected to reach €250 million by 2022.
Milestone's knowledge and network adds a strong market position in air freight and perishable transport. At the same time, Milestone customers migrating to the Shypple platform benefit from the digital freight forwarding capabilities that will future-proof their business, while maintaining trusted relationships.
The recently closed “Series A2” funding of €18.5 million follows the earlier Series A funding announced in April 2021, when €7 million was raised. Bringing the total funding to €25.5 million. The investors involved in the initial Series A round, included Dutch Founders Fund, Newtown Partners (through the Imperial Innovation Venture Fund), InnovationQuarter and BOM Brabant Ventures, who are increasing their stake through a new investment. The Milestone executives have embraced the opportunity to take part in the funding with a multi-million-euro investment, showing their confidence in the future with Shypple.
"With Milestone we have strengthened our capabilities in the perishables and air freight forwarding market to a globally competitive position," said Jarell Habets, founder and CEO of Shypple. "Now, we’re able to serve the needs of large perishable shippers in Europe, Latin America and the Asian trade lanes, who are looking for a digital freight forwarding solution. This is our way of continuing to innovate the traditional world of the freight industry."
"We are accelerating the digitalization of our services by combining our knowledge of perishable transport with the digital capabilities of Shypple," said Co van Es and Juri Falandt, Founders & CEOs of Milestone. “As a result, our customers immediately benefit from the clarity, consistency and confidence to optimize their trading operations. This is hugely important in an intercontinental market where efficiency and access to the latest freight information is essential."
Over 90% of global trade is transported by sea and about 90% of this freight forwarding business is fragmented and heavily dependent on Excel spreadsheets, emails, telephone calls and other error-prone modes to communicate and manage trade. Along with each vessel, a crate of paperwork is flown to the destination port, demonstrating that this $350 billion market is desperately longing for innovation, which Shypple is providing through its technology-driven platform.
Shypple is a digital freight forwarding service operating since 2016, now connecting more than 3,000 companies. The technology-driven Shypple platform provides organizations with end-to-end transparency and control over their entire supply chain. Increasing efficiency, minimizing errors and optimizing global trade. Shypple is headquartered in Europe's largest port, Rotterdam and near Amsterdam Airport Schiphol. The company also has offices in Hong Kong, Shenzhen and Shanghai.
Milestone, founded in 2004, is an independent global freight forwarder, specializing in the field of transporting perishables. The organization has a worldwide network of partners and a client base of more than 450 customers. The Milestone organization has over 100 employees and offices at Schiphol Airport and Capelle a/d IJssel in the Netherlands, as well as in Costa Rica, Honduras, Guatemala, Thailand and Hong Kong. Their objectives are to be involved, innovative, flexible, proactive, reliable and to go the extra mile for their customers and relations. For more information, visit www.milestonelogistics.nl.