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Sensos, an Israeli startup that provides smart labels to help companies track ther packages, has raised $20 million in Series A funding to build out its platform and expand its go-to-market efforts.
- The round was led by Mitsui-backed Magenta Venture Partners and also included participation from JAL Ventures, Israel Cargo Logistics and Sumitomo Corp.
Sensos 101: The startup, a spinoff of Sony Semiconductor Israel, offers a disposable cellular label that can be applied to any package.
- The label is the size of a credit card and it can track information like temperature, pressure, tilt, and location in real time.
- It helps shippers digitize their supply chains, enabling them to ship products faster, hold smaller inventories, and plan production better.
Sensos is targeting the cold chain life science products, consumer electronics, mission-critical shipments, and high-value goods markets, and their client-base already includes companies such as Bayer and DB Schenker.
“This investment… 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,” Sensos CEO Aviv Castro said. “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.”
Sensos plans to use the funds to establish an office in the US, as well as further R&D.
Smart labels: Sensos is not the only smart label company in town. SODAQ, Dracula Technologies, ONiO, and Epishine all provide similar solutions to help shippers track packages. But Sensos believes that its trackers, along with its data-insights platform, provide shippers the most comprehensive supply chain visibility solution.
