Cross-Border Logistics Tech Firm Surpath Bags Pre-A+ Funds
Surpath, a cross-border supply chain technology firm, announced on Tuesday that it has secured tens of millions of yuan in a pre-A+ round of financing. The round featured exclusive investment from Northern Light Venture Capital, while Index Capital remained as the sole financial adviser. The new funds are intended for technological upgrades, marketing and other optimization plans.
Surpath announced in October 2021 that it had completed angel investment and a pre-A round of financing. Its shareholders included China Merchants Group Venture Capital, Matrix Partners, Shaonian Capital and other institutions.
The cross-border supply chain has long links, and over 60% of logistics and supply chain management costs are attributed to unscheduled costs such as penalties and delayed waiting, with trillions of dollars in loss costs. Factors such as data and intelligent scheduling allow for the optimal reduction of unplanned logistics costs.
Founded in 2019, Surpath leverages data and puts the supply chain service experience and guidelines of the cross-border industry into a standard visualization product to serve cross-border brand owners at scale. It creates an infrastructure-level digital supply chain platform for China’s cross-border industry.
Leveraging digital technology and AI, customers can check the status of goods, product costs, inventory, and sales heat maps – anytime and anywhere – through the Surpath intelligent system. With data analysis, operations monitoring and intelligent alerts, Surpath enables customers to better participate in the transformation of global smart supply chains.
Surpath considers the year 2021 as the turning point for cross-border industries. Over the next five years, the firm says supply chains will become the key efficiency point for cross-border industries.
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The founding team of Surpath hails from the Amazon Global Logistics (AGL) founding team and the Cainiao executive team. The rest of the members are from Microsoft China, eBay, DHL, C.H. Robinson and other firms headquartered in Beijing, Shenzhen, Shanghai and Los Angeles.