A double-digit million-dollar investment has been made in Sentispec, a company whose AI-based logistics solutions serve customers in six countries. The investment comes from People Ventures and Founderment respectively, who have identified the potential to transform the logistics industry.
Sentispec's rapidly scalable solutions have already proven huge improvements in productivity and customer satisfaction with customers, and the investors are confident that the investment will help ensure that Sentispec's innovative solutions can scale to both existing and new customers.
"We are extremely pleased with the satisfaction our customers express for our solutions, and with this investment we can make it even better for them", says Sentispec's CEO, Andreas Claudi, who founded Sentispec together with Morten Herman Langkjær a few years ago.
"Our customers are hugely focused both on cost level, but especially on the quality of their service to customers, which is why our solutions give them an immediate competitive advantage."
Sentispec's AI solutions apply sophisticated AI algorithms to video data and to predict, analyse and improve the entire logistics process in real time. This helps to reduce errors and improve operational efficiency, while lowering overall costs and improving their sustainability. For example, one customer has reduced the amount of error corrections related to misplaced pallets by 96%, freeing up staff, resulting in higher productivity and customer satisfaction.
Another customer has reduced container loading time by 7 minutes per container, and as they ship 10,000 containers a year, this translates into a massive streamlining of their work processes, enabling them to deliver an extra 1000 containers a year. At the same time, the data can be used analytically to improve the quality of the loading process and thus enhance the customer experience.
"In general, we find that our customers can use our products to differentiate themselves in the otherwise very mature logistics segment, while contributing with annual productivity efficiency for up to five million kroner per warehouse. Some of our customers even use our sales material directly in their own sales to stand out from the crowd.", says Sentispec's CEO, Andreas Claudi.
Sentispec currently services a wide range of customers in six countries in Northern Europe, including DANX, Frode Laursen, Agri-Norcold among others, and has plans for an aggressive expansion to, among others. USA and Asia, with a plan to service 10% of the world's transport within a short number of years. Sentispec's solutions contribute to route optimisation, warehouse precision, loading and unloading, and a number of other core logistics processes.
"We are excited to see the revolution that Sentispec can bring to the logistics industry and their innovative approach to tackling the challenges in the industry", says Claus Zibrandtsen from People Ventures "What we primarily invested in is the enormous capacity and experience Andreas and Morten bring to the company - they have both had impressive careers and their vast experience means that they have accelerated faster than we normally see. It also means that they have already landed some of the world's largest transport and logistics companies as customers."
"With this significant investment Sentispec is now expanding into the UK and offers clients rapid expansion across the UK, mainland Europe and beyond. We can help save British logistics and warehousing organisations significant costs, while streamlining process and saving time all along the supply chain", says Phil Ince Managing Director, UK.
This investment marks a milestone for Sentispec and proves that there is significant interest and willingness in the industry to transform the logistics process through artificial intelligence. Sentispec plans to use the investment to expand its product portfolio and broaden its service network across Europe, the US, and Asia.
In addition to People Ventures, the circle of investors also consists of the private equity fund Founderment, as well as Morten Ditmer, Troels Underlien and Hejco Group, among others.
Sentispec is exhibiting at Multimodal 2023 on stand 2031