iCustoms secures £1.7m seed investment from Fuel Ventures and other backers to grow its trade compliance platform.
Fuel Ventures led the seed financing round to help the company expand its technology team and develop new offerings.
iCustoms provides artificial intelligence platform solutions designed to automate and optimise trade compliance and customs clearance procedures. The London based firm helps businesses streamline paperwork and reduce operational overheads.
iCustoms has secured £1.7m in seed funding to support its artificial intelligence platform for automated trade compliance. Fuel Ventures led the financing round, joined by participants including PlugnPlay, Outrun Ventures, Montblu Capital, SyndicateRoom, and various angel investors.
The capital will be directed towards expanding the technology team and developing new offerings to enhance customs processes. Led by former HM Revenue and Customs technology leaders, the company aims to reduce administrative burdens for businesses involved in international trade.
From the founder
"Our goal at iCustoms is to make trading simple for all of us,"
Adnan Zaheer
CEO at iCustoms
Investor perspective
"Our experience in the VC space has shown us the immense potential of iCustoms’ innovative AI-driven approach,"
Mark Pearson
Managing Partner, Fuel Ventures
Use of funds
- 01Grow the team
- 02Continue product development
