eTEU raises pre-seed funding from Jenson Funding Partners to launch electronic Bill of Lading platform

"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."