venture fund Tiger Global said on Tuesday it had invested $5 million in predictive spot trucking pricing provider Greenscreens.ai, indicating increased demand for accurate pricing data from logistics providers due to unstable freight market conditions.
, it is understood that Tiger Global, a well-known hedge fund and venture capital firm, will participate in 358 projects in 2021, and an investment transaction will be generated almost every day. Over the past year, Tiger Global has been one of the most active investors in the logistics space, investing in CloudTrucks,Emerge,Nowports,Nuvocargo and SVT Robotics since November 2021.
this year's investment comes 10 months after Florida-based Greenscreens.ai raised a seed round, also led by Tiger Global. Founded in 2020, the company focuses on narrowing the pricing advantages of digital native freight brokers and those who spend money developing internal predictive pricing algorithms over existing brokers.
Greenscreens.ai said in a statement that it is focused on providing brokers with "real-time data specifically tailored to an organization's individual purchasing power, rather than data based on market averages and outliers. The company said it will use the new funding to expand its product and technology development teams in the United States and Lithuania.
Forwardernet.com