The pre-seed round was led by Jenson Funding Partners to fund the commercial launch of the company's electronic Bill of Lading.
"International shipping is vital to our global economy and trade flows. The paper-based nature of our current industry leads to complicated processes and unnecessary costs of more than $200 billion in administrative overheads for companies every year. What’s more, the electronic trade documentation solutions currently available on the market are expensive and require complicated implementation by multiple members of the supply chain. This significantly limits the adoption of available solutions because the majority of SMEs lack both technical expertise and budget to implement them. By utilising our proprietary technology and unique capabilities of the NEAR blockchain protocol, we have created a platform that saves over 80% of time spent on documentation management during the shipment and can be seamlessly integrated into existing operations of shipping and freight forwarding companies. Our pilot partnerships have had a tangible impact on companies, and we are delighted to be launching our solution to the open market."
The pre-seed round was secured from 213 investors on Crowdcube to fund marketing and international expansion.
"Last month, we launched on CrowdCube and we managed to raise over £470,000 between 213 investors. Crowdfunding is essentially a platform where anybody can put money in and we have managed to secure just short of half a million."
Jenson Funding Partners led the pre-seed round to help the company scale its auction technology globally.
"I’ve worked in the auction industry for over a decade and have experienced the frustration of the outdated system first hand, from the legacy technology, to the consequences of this on customer experience. Artisio was formed to alleviate these issues. Our all-in-one panel means that customers can automate complex processes and easily communicate with vendors, rather than having to navigate multiple streams of communication and data. Within the industry, there are many verticals that need to be accounted for, but there’s a lack of solutions that can be used across the board. We’re excited to develop a solution that can be used by all verticals in the auction industry, streamlining time consuming and complicated processes."
Quantum Innovation Fund led the Series B round, with participation from IQ Capital and National Grid Partners.
"We believe that the road to net zero presents an opportunity as well as a risk for global enterprises and our unique combination of technology combined with world-class risk science supports our clients to mitigate risks, as well as capitalise on opportunities. With companies under increasing regulatory and shareholder pressure to understand, report and mitigate their potential climate impact, this additional equity funding will help us support them at each stage of their journey."
