Velostics, a leading software-as-a-service (SaaS) company specializing in unified scheduling, has successfully raised $1.95 million in a seed+ funding round. This significant capital infusion is aimed at expanding Velostics’ groundbreaking platform, enabling the company to extend its reach within the supply chain by providing comprehensive scheduling solutions to shippers across the industry.
Unified scheduling, as defined by Velostics, involves orchestrating inbound and outbound truck scheduling for shippers across their entire supply chain, from vendors to end customers. This innovative approach holds immense importance, particularly considering that manual scheduling practices cost brokers up to $15 per shipment and impose expenses of up to $50,000 per facility on shippers. These costs are attributed to detention expenses, labor inefficiencies, and elevated freight expenses. It’s noteworthy that out of the staggering 800 million nationwide shipments, a majority are still scheduled manually, underlining the urgent need for efficient, cost-effective solutions.
Transforming the Scheduling Landscape
Gaurav Khandelwal, Founder, and CEO of Velostics, emphasized the pivotal role of unified scheduling in addressing the challenges faced by all stakeholders in the supply chain. “Scheduling is a major headache for all parties focused on reducing cost and delivering on high customer expectations – our solution is designed to go live in 1 day with no apps required,” said Khandelwal. He expressed excitement about partnering with carriers, brokers, and freight forwarders, providing them with unified inbound and outbound scheduling solutions that span from the manufacturing floor to distribution centers and final warehouses, benefiting all parties involved.
Investor Confidence and Continued Growth
Mark Barineau, Co-Founder, and Managing Partner at Starboard Star Venture Capital, expressed his delight at Velostics’ continued success and the profound impact it is making on its existing client base. The round was led by current investors Starboard Star, with the enthusiastic participation of Flyover Capital, Small Ventures USA, and new investor Capital Mazapil. These funds will be instrumental in expanding Velostics’ network of shippers and strengthening its relationships with brokers, freight forwarders, and third-party logistics (3PL) providers.
Keith Molzer, Founding Partner at Flyover Capital, commended Velostics for its innovative solution that not only delivers substantial cost savings but also significantly enhances the capacity of manufacturing facilities, warehouses, and fuel terminals. In a landscape where costs are on the rise, Velostics stands out with its proven approach, delivering tangible benefits to businesses and stakeholders while enhancing operational efficiency and reducing expenses.
Velostics’ successful funding round marks a significant milestone in the realm of unified scheduling, affirming the company’s position as a trailblazer in revolutionizing scheduling practices within the supply chain industry. With this new infusion of capital, Velostics is poised to make even greater strides, providing efficient, cost-effective solutions that redefine the scheduling landscape for businesses across the supply chain.