Sennder, which bought Uber’s freight business last year, has raised $160 million in investment.

The funding puts the value of the business at over $1 billion.

The company said that $100 million of the funding would be used to digitalise European trucking by expanding its proprietary technology offering.

The German start-up also merged with France’s Everoad in 2020.

It has allocated the rest of the funding to drive expansion into new European markets with a focus on strategic partnerships, alongside its merger with the French business and its purchase of Uber’s freight company, this demonstrates the company’s position as a substantial consolidator in the European freight market.

The business will move more than one million truckloads in 2021, which it says will make it “Europe’s leading digital road freight forwarder.”

The company said that the funding will expand the 200-person technology team and accelerate research and development into the automation, digitalisation, optimisation, and decarbonisation of road freight.

Sennder will also focus on replicating the success it has had with Poste Italiane.
It said that through the Italian joint venture, it has helped the business save 6 per cent of its €100m annual spending.

Sennder also currently has partnerships with Scania and Siemens.

“I’m very proud to see sennder’s mission and vision become a reality. We are now an established industry player on equal terms with other more traditional sector pioneers, but have maintained our founding spirit,” said David Nothacker, chief executive and co-founder of sennder. “As a data-driven company, we contribute to making the logistics industry fit for a sustainable future; ensuring transparency, flexibility and efficiency in the distribution of goods.

He added: “The COVID-19 pandemic has demonstrated the importance of a digitalized logistics industry. Throughout 2020, we helped our carriers increase their profitability by enhancing operating margins by up to 80% during a challenging time. sennder is uniquely positioned to drive industry digitalization, benefiting shippers and carriers alike.“

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