Wise Systems Closes $7 Million Series A Round
Wise Systems, an autonomous dispatch and routing software provider for delivery fleets, has raised $7 million in its Series A round, according to a Dec. 6 press release.
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The funding, which brings the total raised for the company to $8.5 million, was led by Gradient Ventures, Google’s AI-focused venture fund.
E14 Fund, Neoteny, Trucks Venture Capital and Fontinalis Partners also participated.
Wise Systems software uses machine learning to improve fleet efficiency and customer service. It makes use of data including real-time traffic, machine-learned service times and route-specific intelligence to improve on-time deliveries and reduce mileage, according to the release. It also takes direct recommendations from drivers.
With this latest funding round, the company plans to scale its operations to meet growing demand, accelerate research and development, and extend its market reach.
Wise Systems was founded in 2014 by a team of MIT and Harvard graduates, with a shared focus on using data to transform goods and services mobility. The company’s software appears in operations in more than 50 locations nationwide, with thousands of drivers in the network, per the release. — Transport Topics