The Hamburg-based startup KONVOI has announced the completion of a new seven-figure financing round. It is led by 1750 Ventures, the investment arm of VGH Versicherungen. Existing investors and business angels are also involved. KONVOI has developed a type of alarm system to prevent cargo theft from trucks.
KONVOI wants to provide more security for freight forwarders
Founded in 2020, the startup is the first provider of a preventive, sensor-based security solution that supports freight forwarders from hardware installation to automated action plans to prevent theft, damage and inefficiencies in the operation of their vehicle fleets. The investment will provide freight forwarding customers with significantly greater long-term planning security. KONVOI plans to further expand the areas of data science, sales and customer success in order to be able to respond even more flexibly to major customer requirements.
KONVOI is the second Hamburg-based startup in 1750 Ventures' portfolio. The venture capitalist has also invested in DGTAL, which offers AI solutions for the insurance industry. Apart from artificial intelligence and insurtech, 1750 Ventures focuses on mobility and the Internet of Things as well. In addition to the new investor, business angels Wolfgang Reuter, Elke Heidrich-Lorsbach and Michael Lorsbach participated in the current round once more, underlining their long-term ambitions with KONVOI. They were also involved in the previous financing round, which the startup closed exactly one year ago.
