The Filipino-founded startup, Expedock, a company that promises to boost the world’s supply chain, has raised a large sum of $13.5 million (Php754 million) from its recent Series A funding, just three years since it was founded in 2019.
Established by a trio of 20-somethings, two of which were Filipinos, Expedock has nearly a total of Php1 billion in funding, following active efforts to raise its financial resources.
Truly a large feat for any startup that is often faced with big competition in the market, the lump sum was made possible thanks to the participation of big companies, such as Pear and Neo via Insight Partners; eBay, Meta, Salesforce, Clearmetal, and Project44 via their respective executives; as well as HHLA, Wilhelmsen, and MOL via Motion Ventures.
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With the global supply chain put to a slow crawl because of the onset of the health crisis, enterprises are scrambling for things to get into order. Expedock comes at an opportune moment with its promise to accelerate where the global system has become sluggish through innovative solutions that involve automation and the use of AI in handling large data.