On 11th April 2022, New Silk Road Network’s official partner for cargo tracking and supply chain transparency - Tive Inc. announced the successful conclusion of their series B funding round. A total of $54M was raised this time, bringing the total amount raised to date up to over $80M.
The round was led by AXA Venture Partners, with Sorenson Capital, Qualcomm Ventures, Fifth Wall, SJF Ventures, Floating Point Ventures, as well as the existing investors RRE Ventures, Two Sigma Ventures, NextView Ventures, Hyperplane Ventures, Broom Ventures, and Supply Chain Ventures. Tive will apply the funds to better service their customers and bring true transparency to global supply chains.
Series B financing usually signals the successful completion of certain milestones and that a company is ready to accelerate their growth to meet further demands. Indeed, as Mr. Krenar Komoni, CEO and founder of Tive wrote in their official blog, 2021 was a remarkable year for Tive. Not only did they sign up a new record of 229 customers, including many of the world’s largest 3PLs and shippers, but they also:
•Tracked and monitored shipments in more than 200 countries,
•Launched a global 24/7 monitoring service, which saved hundreds of shipments for their customers,
•Started the Tive Get Green Program and recycled a large percentage of their trackers throughout the globe,
•Developed a next generation of trackers that are resilient to chip shortages,
•Launched ocean and air tracking technologies inside their software platform,
•Launched multi-leg support for shipments, and so much more…
As we look into another year of uncertainly and turbulence in the global supply chain, such an investment round could not have come at a better time. We sincerely congratulate our partners at Tive for this amazing achievement and wish them the best of luck in continuing to outperform competition and outperforming themselves.
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