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Maersk Growth is happy to announce its first investment in Sensor Transport a US-based startup. The opportunity was identified during the first round of the Maersk Growth Venture Program – a global initiative looking to source startups within Transport & Logistics.
The first round focused on the challenges within Secure Supply Chains – one of Maersk Growth’s four domains of investment. Over 150 companies applied to participate in our first investment round. Of these 150 companies 10 moved forward to the second stage in the Venture Program, which took place during the second week of February.
During this second stage, all 10 startups pitched to the Sprint Selection Committee, which consisted of a wide panel of Maersk employees from across the entire company. Said panel provided the startups with input for each of their unique solutions. From these 10, three talented startups were selected as winners and were awarded with a $20,000 grant and a spot in the acceleration sprint together with the Maersk Growth team in Copenhagen. During this stage the winning startups would further develop their ideas, taking full advantage of the vast network of experts and customers at Maersk’s disposal, to potentially close an investment.
The first startup to complete this third stage was Sensor Transport – a software-based startup that allow shippers to monitor their deliverable goods in real time, via mobile devices going beyond just location tracking. This is made possible through their patented IoT sensors which are attached to packages or pallets and can measure variables such as; motion, humidity, temperature, light, and much more. All of which allow for low cost track down all the way to the Stock Keeping Unit (SKU) level, adding value to delivery service providers. The first industries to utilize Sensor Transport services include the cosmetics, as well as Food & Beverage industries, all of which look to monitor more than just location, but also the condition of their products along the supply chain. This technology allows cargo owners to intervene in the case of unforeseen events, thereby ensuring the quality of their product until it reaches the hands of the end-customer.
Thomas Hougaard, Venture Partner of the Secure Supply Chain domain, is very positive about this first investment.
“What we find really compelling about the solution is the software focus and the sensor-agnostic approach which makes it a simple and low-cost implementation for those looking to gain visibility in the supply chain. On top of that the diverse team has deep knowledge and many years of experience within the industry, which assures us that they have the necessary capabilities to solve real customer pains within this space.”
In the meantime, the Maersk Venture Program forges on welcoming 10 new startups in Copenhagen. These startups are all keenly focused on fighting food waste along the supply chain. During the month of June, they will be challenged and provided with valuable insight by Maersk’s team of experts, and will assist them in solidifying their ideas and further propel the growth of their businesses.