Link to original article: TOP INVESTOR The investors cutting the most checks for supply chain startups
Supply chain startups reached a high-water mark for VC fundraising in 2021, bringing in $62.2 billion.
At the time, pandemic-induced lockdowns and port closures motivated investors to seek out and invest in founders with grand ideas to disrupt an industry with a reputation for being static, inflexible and inefficient.
But two years later, the flood has slowed to a trickle as founders are challenged by legacy systems and an erosion in shipping demand: In the first three quarters of 2023, logistics startups logged just $7.9 billion in VC funding, according to PitchBook’s latest Supply Chain Tech Report.
Some prominent companies have struggled in this market environment. Convoy, a startup claiming to be the “Uber for trucking,” shut down in mid-October after raising nearly $1 billion in venture funding. And logistics software company Flexport laid off 20% of its staff in Q4.
Now that most investors have pulled back, logistics startups won’t be getting any more free rides from VCs. Here are the most active global investors in VC-backed supply chain tech deals since 2019.
Featured image by Sean Gallup/Getty Images