ClearMetal Gets $9 Million in Funding
ClearMetal, a San Francisco-based technology startup that is using artificial intelligence to develop what it calls “predictive logistics,” has received $9 million in second-round funding from an investment group led by Prelude Ventures and Innovation Endeavors.
ClearMetal was started by a group of software engineers from Stanford University and received an initial investment of $3 million in 2016. The company has worked with executives from Google, GT Nexus, VF Corp., Navis and other logistics firms to develop a system to manage supply chain data for retailers and manufacturers.
“The global supply chain is suffering from billions of dollars of inefficiency as a result of not having the data intelligence and predictive visibility it needs,” ClearMetal CEO Adam Compain said.
Among the companies using ClearMetal’s AI technology is Panalpina Group, a global freight forwarder based in Switzerland. Panalpina ranks No. 33 on the Transport Topics Top 50 list of largest logistics companies in North America.
Among other investors participating in the new funding for ClearMetal is Singapore-based port operator PSA International, New Enterprise Associates, SAP.io and Direct ChassisLink Inc.
