sennder announced today that it has raised $160m at a $1 billion+ valuation, becoming the first unicorn in the Scania Growth Capital portfolio and the first Logistics Tech unicorn in Europe.
Big congratulations to the whole sennder team and the incredible founders David Nothacker, Nicolaus Schefenacker and Julius Koehler for starting 2021 in supersonic speed.
We are extremely proud and honoured to be part of the sennder journey since our first investment in 2017 when sennder had 14 employees at their small Berlin office. And what a journey, sennder has emerged as Europe’s leading digital road freight forwarder with over 800 employees out of 7 international offices.
sennder, the Berlin-based logistics startup financed by Scania Growth Capital since 2017, announced today that it has acquired Uber’s European freight business. The two companies have joined forces to further revolutionize the digital freight industry across Europe, the US and Canada.
Scania’s venture capital fund announces an investment in AKOA, a fast-growing company in business process automation. The investment will enable AKOA to further accelerate its growth in new markets, as well as to strengthen its organisation and offering. This marks the fifth investment by Scania Growth Capital.
As modern organisations become increasingly reliant on systems and software to support and enable their business in a more digital world, the need for automation and digital transformation solutions is increasing. A growing number of tasks and processes have moved from physical to digital, from paper to electronic and from traditional ink signatures to today’s e-signatures.
AKOA, which stands for Another Kind of Automation, focuses on business process automation through technologies such as robotic process automation, virtual assistants, chatbots and artificial intelligence. Using technologies such as these, organisations can automate digital business processes without affecting underlying IT environments or drastically re-engineering the logic in the processes. This allows their employees to move towards more value-adding activities that help to evolve their businesses.
“We combine expertise in technology, extensive experience in change management and consulting, with a passion for developing the workspace of the future. In a market where up to 60 percent of all automation implementations fail to deliver the desired outcomes, we are thrilled and honoured to receive this investment from Scania, one of Europe’s most respected brands, and a client of ours. This investment and partnering with Scania to leverage their unique knowledge and vast network, will enable us to accelerate our growth and strengthen our offering”, says Sebastian Toro, founder, AKOA.
AKOA has grown organically, while maintaining its position as a global leader. To date, AKOA has helped 6 Fortune Global 500 companies and more than 80 clients globally transform their businesses.
“AKOA has established themselves as a global leader within the rapidly growing area of intelligent automation. In addition, they have created and been able to nurture a very positive corporate culture,” says Daniel Riazzoli, a partner at the management company of Scania Growth Capital.
Scania provides expertise and industry knowledge to the companies that Scania Growth Capital invests in. Anne-Marie Öhlén, director, Finance Processes and Innovation, Scania, will join AKOA’s board of directors.
“We have traditionally been very focused on automating and streamlining our production processes at Scania. We are now also taking automation and digitalisation to the next level for other functions, like finance, accounting and HR. Through Scania Growth Capital, we have an opportunity to tap into early development and innovation that is industry-relevant, while outside our own core business, and to feed our perspective as a large industrial player back to AKOA,” says Anne-Marie Öhlén.
sennder, the Berlin-based logistics startup financed by Scania Growth Capital since 2017, has raised $70 million in its Series C round led by Lakestar and $30 million earlier in 2019, with existing investors like venture capital firms Accel, Holtzbrinck Ventures, Project A and Scania Growth Capital being a part of this raise.
Scania Growth Capital has invested SEK 35 million in Corebon AB, a Swedish materials tech start-up that has developed a revolutionary method for producing carbon fibre components.
Based in Southern Sweden, the start-up has developed a ground-breaking method for producing components of carbon fibre reinforced plastics which is applicable on a wide range of products in industries such as automotive, telecommunication, aerospace and robotics.
The patented process is based on induction heating and enables Corebon to produce carbon fibre components at significantly higher speed than through existing established methods. The quality of the produced carbon fibre component is also improved, and the energy consumption in production is considerably reduced.
Corebon is already a supplier to a leading player within the telecom sector and is in different stages of implementation projects with several other key companies within different industries.
“We are in an acceleration phase and we are growing both our production capacity and our organisation. To have Scania Growth Capital come in as the lead investor in our SEK 45 million capital raise rounds, and to be able to leverage Scania’s ecosystem and knowledge will certainly help us accelerate our growth,” says Tobias Björnhov, Founder and CEO of Corebon AB.
“Corebon has developed a truly disruptive method for carbon fibre production. The technology has the potential to fundamentally change the reach of carbon fibre in industrial applications, which traditionally has been limited due to long lead-times and high cost,” says Christian Zeuchner, Partner at the management company of Scania Growth Capital.
This marks the fourth investment by Scania Growth Capital. For each investment, the approach has been to contribute with industry knowledge, in addition to the invested capital. In this case, Per-Arne Eriksson who is head of Customized Truck Development at Scania, will join the board of directors of Corebon. Christian Zeuchner says: “The strategy of Scania Growth Capital is to invest in companies attractive growth companies that have strategic relevance to the Scania eco-system and Corebon hits all the right notes. In the rapidly changing automotive industry, we see many possibilities to expand the use of carbon fibre to more applications as an enabler of product development, including in electrification of vehicles.”
Scania Growth Capital invests in Swed-Weld, a leading producer of add-on equipment for the optimisation of automated manufacturing lines.
Swed-Weld is based in Sweden and its primary product is feeding machines for welding nuts, which are an important part of the robot cells that are used in modern manufacturing. When connected, Swed-Weld’s feeding machines provide data that when analysed enable troubleshooting, preventive maintenance and software upgrades. This in turn reduces the number of production stops, so increasing production efficiency.
“We are very enthusiastic to have an industrial owner like Scania. With the knowledge and network of Scania, we will be able to accelerate our growth, with the aim of providing the highest quality and the most customer-focused offering in the sector,” says Henrik Larsson, Founder and CEO of Swed-Weld.
Swed-Weld also produces welding machines and other types of feeding machines. By utilising a modular system, the company can quickly adapt its standard feeding machines to fit customers’ specific needs. Swed-Weld also offers installation, training, service and spare parts.
“Swed-Weld has been able to secure contracts with some of the most demanding buyers of automation equipment. By leveraging a modular production platform, the company can help customers to improve production efficiency”, says Daniel Riazzoli, Partner at East Hill Equity, the management company of Scania Growth Capital.
In addition to capital investment, Scania Growth Capital also provides a platform where Scania can contribute its industry knowledge to its portfolio companies. In the case of this latest investment, Lars Henrik Jörnving, head of Global Industrial Development at Scania, will join Swed-Weld’s board of directors.
“Scania Growth Capital invests in growth companies with strategic relevance to Scania and our ecosystem of customers and partners. As a large manufacturing company with a global production system we see this intelligent use of a modular production, in combination with customer focused design as a strong concept within smart factory development and a good fit for our industry,” says Jörnving.
Scania Growth Capital, Scania’s corporate venture capital fund, announces its second investment, in sennder, a Berlin-based digital freight-forwarding company. sennder is a growth company that provides software that digitalises freight-forwarding processes in order to increase efficiency and reduce cost. Scania Growth Capital invests a seven-digit euro amount in sennder.
With sennder’s digital solution, the currently manual and paper-dependent road freight business gets a new level of automation, transparency and efficiency. The solution is based on a proprietary software platform that provides immediate visibility of pricing, live tracking, customised reporting and automated alerts through API integration with the transport provider and the buyer’s current systems. It comprises mobile apps for drivers, fleet management tools for carrier managers and logistics management solutions for shippers.
“Digitalisation is one of the key drivers of change in the ecosystem of transport and logistics. Investing in sennder is well aligned with our strategic direction and our efforts to support our customers in digitalising their business and operations,” says Daniel Wedberg, Head of Corporate Management and Venture Business at Scania.
“sennder has been able to secure and develop long-term contracts with some of the most demanding buyers of logistics services in Europe. By leveraging technology, sennder increases the level of customer service significantly while cutting cost for all involved parties,” says Christian Zeuchner, Partner at the management company of Scania Growth Capital.
“With its knowledge, network and focus on digitalisation, Scania is a great fit for us. With their support we will be able to accelerate our growth journey, expanding further across Europe in our ambition to offer the most customer-focused and efficient service in the sector,” says David Nothacker, Co-Founder and Managing Director of sennder.
From its head office in Berlin, Germany, sennder has built a list of customers that includes some of the largest e-commerce players in the world. Through a virtual fleet comprising vehicles ranging from small vans to 40-tonne trucks all across Europe, sennder can provide both parcel and full truckload services.
Following Enersize’s fully subscribed new issue of shares, the company is now listed on the Nasdaq First North European growth market. The first day of trading was 15 June. One of Enersize’s major owners is the newly launched Scania Growth Capital.
Through its proprietary software for data acquisition and analysis, Enersize achieves energy savings of up to 30 percent in industrial compressed air systems. Industrial compressed air represents five percent of the entire world’s electricity consumption, and is used in 90 percent of all factories. Enersize shares the energy savings with the customer, which does not need to pay anything for the solution but merely shares the revenue from the savings achieved.
Enersize’s existing customers include one of the world’s largest flat-screen manufacturers and also well-known producers of vehicles and steel. Scania itself will benefit from Enersize’s solution, which can contribute to a significant reduction in energy consumption at its industrial facilities and service workshops.
The raised capital through the new issue of shares has brought an additional, SEK 27.9 million (approximately 3.03 million euro) that will be used for market acceleration as well as key recruitment for the global market launch of a fully automated analysis tool, which is currently under development. Furthermore, Enersize aims to utilise the increased capitalisation to finance a large number of new customer installations.
Scania’s recently launched corporate venture capital fund Scania Growth Capital has made its first investment. The fund will become one of the owners of Enersize OY, which through its proprietary software for data acquisition and analysis, achieves significant energy savings in industrial compressed air systems.
“We see great potential in the company and its ability to develop in the global market for energy-efficient and sustainable industrial production, which also promotes Scania’s continued development and growth and is in line with our vision of taking the lead in sustainable transport solutions. Enersize’s solution can contribute to a significant reduction in energy consumption at Scania’s industrial facilities and service workshops,” says Daniel Wedberg, Senior Vice President and Head of Corporate Management and Venture Business, Scania.
Through its proprietary software for data acquisition and analysis, Enersize achieves energy savings of up to 30 percent in industrial compressed air systems. Industrial compressed air represents 5 percent of the entire world’s electricity consumption, and is used in 90 percent of all factories. Enersize shares the energy savings with the customer, which does not need to pay anything for the solution but merely shares the revenue from the savings achieved. Enersize’s existing customers include one of the world’s largest flat-screen manufacturers and also well-known producers of vehicles and steel. The company’s head office is in Helsinki, Finland, and it has a development office in Lund, Sweden.
“We are very pleased that Scania Growth Capital has chosen to invest in Enersize. Scania has a solid experience in the automotive and manufacturing industry, and its enthusiasm for both our business model and technology pleases us. With industrial owners on board, we strengthen our global network and strategic knowledge,” comments Christian Merheim, Chairman of Enersize Oy.
Scania Growth Capital is a corporate venture capital fund, which in invests in high-growth companies with strategic relevance to Scania and its ecosystem in the transport- and automotive industries.The fund invests in companies that enable the transformation to a more environmentally friendly transport system and in efforts to detect disruptive technologies and business models. Scania Growth Capital also creates a platform on which Scania can support motivated entrepreneurs with access to a large ecosystem, and broad and deep industry expertise. The fund is managed by an external investment company consisting of a team with extensive experience in both investments and the automotive industry. Venture capital veteran Lars-Olof Gustavsson is the chairman of Scania Growth Capital and also acts as chairman of the external investment company.
Scania Growth Capital Capital evaluates investment proposals broadly. They may include companies with products, solutions or services in digitalisation, autonomous vehicles, connectivity, hybridisation, renewable fuels and smart factory.
Scania is already active in several partnerships that drive the shift towards sustainable transport systems, both with customers, academia and other tech-companies. Scania Growth Capital will reach a segment of complementing companies, giving Scania an opportunity to tap into or promote early development and innovation that is industry-relevant, but outside its own core operations.