Taking a groundbreaking approach to solving a multi-billion dollar shipping logistics problem ClearMetal will use the investment to bring predictive intelligence to container shipping
It’s the age-old issue that continues to plague the shipping industry Carriers struggle to get the right asset to the right place at the right time said Chetan Puttagunta Partner at NEA The industry now has the needed IT and data infrastructure in place — opening the doors for ClearMetal to apply an innovative data-driven approach to address the global trade problem The team has developed an exciting solution and we look forward to partnering with them to transform shipping around the world ‘
ClearMetal helps the world’s largest shipping carriers reduce costs increase revenue streamline operations and reduce carbon emissions globally The ClearMetal Predictive Intelligence Platform uses artificial intelligence to predict equipment trade vessel and shipper needs with accuracy and granularity that was previously impossible Through its unprecedented technology and approach ClearMetal eliminates the guesswork from moving 20 million containers around the world
We invest in visionaries who apply cutting-edge technology to transform large industries and ClearMetal is an ideal example The shipping industry has been hungry for more reliable prediction and leading carriers are embracing the clarity ClearMetal provides said Innovation Endeavors Managing Partner Dror Berman ClearMetal makes sense of the complexities of global trade so carriers can more efficiently manage hundreds of thousands of containers and vessels The company will quickly make the shipping industry more effective more profitable and more environmentally friendly ‘
ClearMetal was founded by top software engineers data scientists artificial intelligence experts and operations researchers from Stanford University Google and Silicon Valley
The global shipping industry has reached a point of nearly unmanageable complexity noted Adam Compain founder and CEO of ClearMetal ClearMetal forecasts the future with certainty allowing carriers to accurately and effectively allocate reposition and utilize their assets By empowering carriers with predictive intelligence we are driving efficiency and profit across every shipping container in the world ‘
About ClearMetal
ClearMetal is a predictive logistics company that uses predictive intelligence to unlock unprecedented efficiencies for global trade The ClearMetal Predictive Intelligence Platform forecasts the future with certainty- enabling carriers to increase profitability through precise asset allocation and predictive trade management Based in San Francisco ClearMetal is funded by global VC firm NEA Beijing-based Skyview and Eric Schmidt’s Innovation Endeavors Learn more at www clearmetal com
About NEA
New Enterprise Associates Inc NEA is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages sectors and geographies With nearly 17 billion in cumulative committed capital since the firm’s founding in , NEA invests in technology and healthcare companies at all stages in a company’s lifecycle from seed stage through IPO The firm’s long track record of successful investing includes more than 200 portfolio company IPOs and more than 320 acquisitions since its founding in 1977 In the U S , NEA has offices in Menlo Park CA Boston MA New York NY Chicago IL and the Washington D C metropolitan area In addition New Enterprise Associates India Pvt Ltd has offices in Bangalore and Mumbai India and New Enterprise Associates Beijing Ltd has offices in Beijing and Shanghai China For additional information visit www nea com
About Innovation Endeavors
Innovation Endeavors is an early-stage venture capital firm partnering with startups that apply cutting edge technology to transform large industries The firm runs a dedicated global team that builds industry networks to create value for its portfolio companies Innovation Endeavors has offices in Silicon Valley and Tel-Aviv and is solely backed by Eric Schmidt the Alphabet Executive Chairman formerly Google Learn more at www innovationendeavors com
Please note that this piece of work originally appeared in English at https://www.vcnewsdaily.com/ClearMetal/venture-funding.php. As Investocracy aims to bring global startup news and updates in both English and Japanese to you, it’s important that we attribute original source to you. If you have any questions/concerns please write to us at contact@investocracy.co
