The logistics technology company SiB Solutions raises SEK 23 million through a private placement. Among the largest shareholders is Anders Pettersson, a former investor in the game development company Sharkmob.
SiB Solutions offers a software for video content analytics that provides efficient monitoring and analysis of logistics processes to minimize shrinkage in the supply chain. The value of goods lost in logistics processes globally is estimated at around EUR 10 billion each month, with consequential costs of around EUR 20 billion.
The technology is based on artificial intelligence and video analysis, where the platform recognizes shipments throughout the supply chain and identifies when errors occur. SiB Solutions installs its equipment at selected locations, for example, a warehouse, which then measures and analyzes the handling of the goods. The company’s technology is used by Postnord, Nowaste Logistics and JF Hillebrand, among others.
SiB Solutions is now entering an expansive phase where the capital raise of SEK 23 million is the first step in continuing the commercialization of the platform, develop more functions and support the company toward an international expansion. 2021 will be a preparation for a major global upscaling.