Coldcart, a Chicago, IL-based provider of an orchestration and optimization platform for frozen and refrigerated parcel logistics, raised $6.5M in Seed funding.
The round was led by Collide Capital and included previous convertible note investments led by Material. Great North Ventures, Behind Genius Ventures, Feld Ventures, Alumni Ventures, and Service Provider Capital also participated. Collide Capital Managing Partner Aaron Samuels is joining Coldcart’s board.
The company intends to use the funds to grow its installed base of perishable shippers and logistics providers. The resulting network effects will further increase operational efficiencies created by their platform.
Founded by CEO Jason Park, who previously started and scaled Allstate Identity Protection from zero to $100 million ARR, and Blue Apron founder and former CEO Matt Salzberg, Coldcart provides a complete orchestration and optimization platform for frozen and refrigerated parcel logistics. Their technology automates and optimizes the steps from order to delivery. For every individual order, the platform decides what combination of routing, packaging, and shipping will best meet the required delivery time, based on realtime factors including cost, on-time delivery, weather, and provider availability, among others. These decisions are then executed across a growing network of 15 fulfillment centers and multiple delivery carriers in each geographic region of the U.S., collectively reaching the entire U.S. population within required perishable delivery time. Coldcart customers can also connect their own fulfillment centers and providers.
FinSMEs
16/07/2024