Tel Aviv, Israel, February 8, 2024– Sensos, a Sony Semiconductor Israel spin-off, has successfully closed its Series A funding round to further develop a proactive supply chain management solution. The funding was led by Mitsui-backed Magenta Venture Partners, who were joined by JAL Ventures, with the participation of Israel Cargo Logistics, and Sumitomo Corporation.
The smart logistics industry that tracks shipments and manages remote inventory is fragmented, relying on partial digital solutions, poor data quality, and error-prone manual labor, resulting in supply chain inefficiencies and waste. This increases operating costs by requiring companies to keep larger inventory and apply wider production margins, heavily impacting their bottom line and affecting the environment. To address this, Sensos’ co-founders Aviv Castro CEO, Yair Ripshtos, CTO, and Tal Kanonich, COO, took a holistic approach to the problem, combining their unique cellular label with an AI-powered control tower to collect and analyze exclusive data and provide logistic teams with real-time actionable alerts to allow proactive resolutions.
Sensos is already collaborating with top-tier brands such as Bayer, DB Schenker, and others, providing valuable insights for various industries and use cases such as cold chain life-science products, consumer electronics, mission-critical shipments, and high-value goods.
“This investment from leading players in the industry is a clear vote of confidence in the team and in the solution, solving the lack of actionable data and the need for optimized execution in today’s logistics market,” said Aviv Castro, CEO of Sensos. “By using the Sensos solution, companies can optimize production planning, inventory levels, and shipping efficiency and at the same time monitor and reduce greenhouse gas emissions meeting ESG regulations.”
“Accelerated by COVID-19 and geo-political pressures, supply chain, and logistics grow in scale and complexity – yet suffer from lack of real-time actionable data. We see a growing need for solutions that enable greater supply chain accountability and agility,” said Ori Israely, Managing General Partner at Magenta VP. “Sensos’ vision goes beyond anyone else in the market today, with a team that is well immersed in the world of logistics and ready to face this global challenge.”
“In a world where seamless connectivity drives innovation, Sensos emerges as a beacon of efficiency in supply chain management,” said Amiram Levineberg, General Partner at JAL Ventures. “With a team rooted in the world of wireless communication, they’re uniquely positioned to revolutionize how data flows through logistics networks.”
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