Breda, 21 April 2020 - Route42 recently raised 700,000 euros in start-up capital from investors, BOM Brabant Ventures and Peak Capital. Route42 intends to use this investment to accelerate the development of the transport intelligence platform. In addition, this Breda-based company is also using the investment to establish an international sales organisation and become Europe’s leading data intelligence platform.
Europe has rightly identified the transport sector as a vital sector during the current corona crisis. In 2019 it generated more than €5 billion in turnover. In Europe alone, five million people work in this sector. Despite the crucial role of the transport sector, margins are very low, usually around 1-2%. Fuel waste, damage or inefficiency within the operational process can reduce or even eliminate a logistics company's profits. Route42, with its transport intelligence platform, addresses precisely these pain points in the logistics sector, and as a result has grown rapidly in recent years .
Realising international ambitions
Max den Dopper, CEO of Route42: "Since the launch of our product four years ago, we have doubled our customer base every year. Today 1 in 10 Dutch trucks are equipped with our transport intelligence solutions. We are enormously proud that, given the current challenging market conditions, we have concluded the new financing round with two leading Dutch Venture Capital firms BOM Brabant Ventures and Peak Capital. The capital can help us further realise our ambitions as a leader in the field of data-driven movement, to become the data intelligence platform of Europe. The funds will be used to strengthen our development team and to increase the number of client integrations, further strengthening the platform. In addition, we will roll out Route42 internationally."
Robin Franken, Investment Manager Brabant Ventures: "As an investor with a focus on the province of North Brabant, Route42 has not gone unnoticed.” Route42 as a leading scale up offers data driven and value added solutions to its customers in the logistics industry. Through its data driven solutions Route42 has both financial and societal impact. We feel confident that the current fundraise will help accelerate Route 42’s growth and help them realize their ambitions.
Jacqueline van den Ende of Peak Capital: “Apart from our strong belief in the team, we have a strong belief in the market and the Route42 solution. The transport market in Europe is huge and every carrier requires data-driven solutions to optimise their margins. We are excited to help Route42 consolidate its position as Europe's leading transport intelligence platform."
Fleet efficiency improvement
Route42 offers a transport intelligence platform that leads to safer driving, cost savings and more sustainable driving, as well as general efficiency improvements for fleet managers. The software of Route42 is a plug & play solution that can be connected to any existing on-board computer system. The main product features are the analysis of fuel consumption, a driver coaching module that leads to safer, more sustainable and cost-efficient driving and waiting times, and track-and-trace possibilities for both trucks and trailers. These solutions help fleet managers to drastically improve their margins.