Roambee Completes $18+ Million in Series B1 Funding to Expand Real-Time Supply Chain Monitoring - Including Cold Chain Logistics Visibility for COVID-19 Vaccine Maker
Roambee's on-demand, worldwide real-time location and condition monitoring solutions, using class-leading sensor technology and an immersive location-aware platform, poised to transform global vaccine distribution and other industries.
SANTA CLARA, Calif., March 23, 2021 /PRNewswire/ -- Capping a year of growth, supply chain visibility provider Roambee has completed its Series B1 funding with a round led by Temasek-backed Reefknot Investments, a global top-tier logistics sector-focused venture capital fund. The completion of the $18+ Million fundraise positions Roambee for further expansion of its technology, services and global market penetration ahead of its Series C round targeted for Q2 2021.
As the world looks to mass vaccinations in order to successfully emerge from the pandemic, it is notable that the real-time location and condition monitoring solutions Roambee offers are vital to solving the logistics challenges inherent to global COVID-19 vaccine distribution. The company is currently providing its dependable end-to-end cold chain visibility solution to one of the primary COVID-19 vaccine manufacturers.
Roambee's proven monitoring solution, as used by one of the largest US-based vaccine makers, is envisioned by the company as the first step towards transformation of multiple industries via unfettered access to verifiably better supply chain visibility at scale. Roambee's real-time, monitoring solutions provide the level of logistics details needed for the pharma industry - for example, clinical trials, cryogenics, hospital medication, etc. - as well as market sectors including food and beverage, chemicals, automotive, manufacturing, and logistics.
"Our immersive location-aware platform provides on-demand, real-time location and condition monitoring for logistics automation," said Roambee CEO Sanjay Sharma. "Our platform combines sensor data with non-sensor intelligence to generate meaningful supply chain signals which are used to derive insights and foresights in real time. With radically simple access to information, our customers and partners can now automate their supply chain and logistics operations with zero upfront investment."
Sharma continued, "This level of insight is particularly important to cold chain visibility. In the case of vaccines, the real-world implications are stark. For example, Roambee can tell the supplier not just that the vaccine shipment has arrived at its destination, but that its unloading was delayed by five hours - meaning that the vaccine's efficacy and stability timeline has been cut in half, vital information for the organization charged with getting shots in arms."
"Reefknot is delighted to participate in Roambee's Series B1 fundraise, and we are happy to bring forth our industry expertise as well as our global and Asia ecosystem partners, to support Roambee as they continue their trajectory of growth and innovation," said Marc Dragon, Managing Director of Reefknot Investments. "We are excited to be a part of Roambee's journey. Their significant growth in 2020 - doubling sales orders from 2019, adding to their customer base and expanding their existing relationships, as well as significant platform innovation - positions them well to push the frontiers of Supply Chain Visibility in 2021 and beyond."
Roambee's business model is as streamlined and customer-friendly as its technology: in sum, the customer signs up for a certain number of shipments, then Roambee sends the customer the number of sensors needed at any origin location around the world, then picks them up at the end of the journey from the destination. The price of Roambee's solution typically runs under 2 percent of the overall transportation cost.
For more information about Roambee, please visit www.roambee.com and to keep up to date on their continuing innovations, please follow the company on LinkedIn.
About Roambee
Roambee puts you in control of goods and assets - indoors, outdoors, and in-transit - with sensor data monitoring, analytics, alerts, and automated response. Our solutions are on demand and CAPEX-free; you only pay for what you monitor.
More than 300 global enterprises have chosen Roambee to improve product velocity, compress order-to-cash cycles, and forecast demand accurately. Roambee is continuously investing in AI and data analytics to make trusted business recommendations. Roambee's cloud platform is powered by purposefully built multi-sensor IoT hardware and clever use of global connectivity options to monitor at scale, while Robotic Process Automation (RPA) automates processes for transparent business operations. With a 60+ strong global partner network, Roambee has created a strong business eco-system for visibility.
Roambee is headquartered in the Silicon Valley, USA with regional offices in Mexico, Brazil, UK, Germany, UAE, India, Malaysia and Indonesia to service our worldwide customer and partner base.
Media Contact:
Ariane Wolff, Warner Communications
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SOURCE Roambee
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