Ofload, one of the fastest-growing start-ups in the Australian logistics industry, announced it has secured AU$60 million in Series B funding, including debt and equity components, to accelerate its push for sustainable supply chains. The round was led by Jungle Ventures, Singapore’s largest independent venture capital firm, and featured increased backing from existing investors King River Capital, Bay Grove, Maersk Growth and Foundamental.
Ofload announced the acquisition of Melbourne freight specialist CIA Logistics, marking the start of an ambitious growth strategy aimed at expanding its offering and national footprint. Ofload’s first acquisition has increased the start-up’s headcount to over 120 employees across Sydney, Melbourne and Brisbane, with CIA Logistics’ Founder and Director Tony Couttie stepping into a General Manager position at Ofload. A phased, post-merger integration and growth strategy is underway, during which the CIA Logistics brand will be retained as its operations, sales and finance teams continue to report to Couttie.
FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and one of the world's largest express transportation companies, has expanded FedEx® International Connect Plus (FICP), an international, day-definite, e-commerce shipping service that combines competitive speed with attractive prices to four more markets across the Asia Pacific (APAC), Middle East and Africa (AMEA) region. This includes Indonesia, New Zealand, the Philippines, and Vietnam.
Evergreen Shipping Agency has reported unprecedented employee engagement since its move to remote work, enabled by Avaya tech. The roll-out of the Avaya Cloud Office by RingCentral communications and collaboration platform has led to record levels of customer service availability as the industry navigates supply chain disruption and port congestion.
Mojix, an inventory management and supply chain traceability enterprise SaaS platform, has announced that Chris Cassidy has joined the organisation as President and Chief Commercial Officer. This particular announcement comes as the direct result of the tremendous success Mojix has attained over the past several years, as the organisation has recorded significant growth and improvements in revenue, customer expansion, and product innovation.
SAP SE, has helped Australia’s Nuclear Science and Technology Organisation (ANSTO) unlock major operational, competitive, and reputational benefits by implementing SAP Integrated Business Planning (IBP) software, with over $1m in projected savings in the first six months.
Aera Technology, the Decision Intelligence company, has partnered with Pulmuone Co. Ltd. — South Korea’s fresh food company — to enable Decision Intelligence across its supply chain. Using the Aera Decision Cloud™, a purpose-built platform that digitizes, augments, and automates business decisions, Pulmuone will speed and scale decision making to effectively support its worldwide growth and drive business and environmental outcomes.
AD Ports Group announced that it has acquired Noatum, an integrated logistics platform with a presence in 26 countries and LTM revenue and EBITDA of AED 6.91bn (EUR 1.80bn) and AED 555m (EUR 145m), respectively. The total purchase consideration (Enterprise Value) for 100% ownership amounts to AED 2.5bn (EUR 660m), implying an LTM EV/EBITDA of 4.6x.
Enquiries for finance for secondhand equipment have increased significantly. Businesses are looking for clever ways to grow their business in response to COVID market opportunities.
The talk of the town is the skyrocketing price of fuel. Every day people and businesses alike are both feeling the pinch. Online businesses, are being hit hard, because their business model is based on deliveries and with fuel prices going up and affecting all aspects of their supply chain, online businesses have to strategise to navigate their way through this challenge.