Portcast bags $8.72m in funding to boost AI capabilities

The company also aims to deepen its Asia Pacific and Europe presence.

Portcast, a company specialising in real-time transportation visibility and predictive analytics, has secured $8.72m in a Series A funding round to further develop its artificial intelligence (AI) technology to bolster global supply chains amidst rising disruptions.

Susquehanna Asia VC led the funding, with participation from Hearst Ventures, Signal Ventures, and existing backers such as Wavemaker Partners, TMV, and Innoport.

Portcast offers exception management services that provide actionable recommendations and explainable insights, aimed at enhancing productivity, reducing operational costs, and cutting carbon emissions for shippers and logistics providers.

The company integrates data from carriers, terminals, geolocation, risk data, and proprietary sources to deliver accurate visibility via a single application programming interface and portal.

With the new funding, Portcast plans to enhance product innovation, including leveraging generative AI for improved risk management, transport planning, and invoice auditing capabilities.

The company also aims to deepen its presence in Asia Pacific and Europe, and strengthen collaborations with technology partners.

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