G2VP Moves Into Logistics with Turvo
By: Daniel Oros
Last week marked an important milestone for G2VP portfolio company, Turvo, the first real-time collaborative logistics platform using artificial intelligence to connect anyone, anywhere to move things. The company recently announced that it has raised $60 million in a Series B round led by MubadalaVentures. G2VP was a major participant in the round, as well as Next47, the venture arm of the global industrial giant Siemens.
At G2VP, we invest in emerging technologies focused on the digitization of industry that unlock previously unidentified paths to sustainability and resource efficiency. There are few sectors as large and vital to the world economy as the logistics and supply chain industry. This industry has been lacking innovation for decades and creates a massive opportunity for technologies like Turvo to unlock billions of dollars of inefficiency by empowering everyone across the supply chain ecosystem to seamlessly share, communicate, and collaborate in real-time, transforming how the world moves things.
In addition, by creating greater efficiency and utilization across the entire supply chain ecosystem, Turvo will make a significant impact in the environmental footprint of our economy.
The co-founding team of Eric Gilmore, Sai Nagboth and Jeff Dangelo bring together a set of skills and experience that is unique in the industry. With expertise in product, engineering, and logistics, respectively, they have built Turvo into a rapidly expanding platform that provides value to shippers, brokers and carriers.
Turvo’s cloud-based collaborative platform enables people, businesses, applications, and devices to seamlessly connect and securely share information. Turvo also makes it simple and easy to extend and eliminate legacy systems. Because of this flexibility, Turvo has been able to attract a wide range of enterprise customers, helping accelerate these organizations’ digital transformation. Turvo’s collaborative platform lays the groundwork for a future that enables an autonomous supply chain connected to a digital transportation network.
It is an exciting time in the logistics sector, where we’ve observed that each of the ‘disruptors’ with great teams and great products are winning, and not at the expense of each other. Those with much more to lose will be the incumbents that fail to integrate a now-constant stream of technology innovations — smartphones, sensors, apps, SaaS tools, AI tools, RPA, etc. — into their organizations.
We look forward to growing with the team at Turvo over the years to come, and let us know if you think Turvo could work for you!