To solve supply chain problems of e-commerce & airline brands, Quincus secured Series B funding
Quincus, a Singapore-based company that provides an enterprise SaaS platform for the supply chain sector, has raised an undisclosed Series B round with a valuation of more than $100 million.
GGV Capital joined the round, which was led by US-based electrification and mobility fund UP. Partners.
Quincus plans to use the extra funds to expand its business and create new technology. Its multi-mile services will be improved by bolstering its real-time visibility and machine learning optimization platforms. Carriers, airlines, and supply chain operators will be able to optimise and move their cargo over multi-modal networks in the first, middle, and last mile.
Quincus concluded its Series A round in January 2021, headed by GGV Capital, Masik Enterprises, and Aletra Capital Partners, and was followed by this fresh round nine months later.
Jonathan E. Savoir and Katherina-Olivia Lacey created Quincus in 2014. It has collaborated with a number of household e-commerce, logistics, and airline businesses to help them address supply chain issues.
Quincus claims to have witnessed a 600% increase in exports across 48 countries since the beginning of 2021. Every month, the firm processes over 70 million shipments and analyses over 1.4 quadrillion data points.
Co-founder and CEO Jonathan E. Savoir said, “Companies are seeing the urgency to provide better and faster services to satisfy both consumers and businesses today while ensuring their operations are kept cost-efficient. Moreover, there is also a need for a greener supply chain as many today face environmental, social, and corporate governance. Quincus is well-positioned to provide the relevant solutions to achieve customers’ supply chain and logistics goals with our simple plug-and-play technology applications.”
Qunicus is headquartered in Singapore and has offices in Indonesia, Malaysia, Mexico, Taiwan, Vietnam, the United Arab Emirates, the United States, and the United Kingdom. By the end of 2021, it intends to expand its workforce to over 400 employees to support its operations in its newly opened locations in Canada and the Middle East.
By 2022, the firm plans to grow into new markets in the Americas, South Korea, and Japan.
Katherina-Olivia Lacey, CPO, and co-founder at Quincus, added: “We believe that Quincus’ approach to supply chain technology innovation could reshape the movement of goods and commerce around the world and eventually, grow economies. With Quincus’ data lake, where data is consolidated, analysed, and fed into a single dashboard, customers will have the opportunity to make better decisions in a complex situation, such as applying mitigation measures to minimise environmental impact. We are honoured to have the support of investors who believe in what we can offer. We hope to tap on their expertise to create technology inclusivity within regions that might not have access to them.”
Ally Warson, Principal at UP. Partners, added, “UP. Partners believe that international supply chains are ripe for disruption and that Quincus holds the key to unlock enormous efficiencies for the logistics industry. The economic effects of covid have forced global logistics players to rethink how they operate their business fundamentally. The digitisation imperative has accelerated faster than ever. Quincus’s solution solves strategic pain points across the entire logistics chain.”
