Scania Growth Capital makes its first new major move and invests SEK 50 million in SiB Solutions. The capital fund’s management company East Hill Equity believes SiB Solutions can improve the logistics sector and sees great potential in the company’s continued global expansion.
Scania’s new EUR 200 million hybrid venture capital fund went live in November, continuing its predecessor’s focus on the most attractive companies and entrepreneurs in the B2B tech space. Scania Growth Capital, managed by East Hill Equity, a company with extensive experience from venture capital investments in the B2B environment and offices in Stockholm and Berlin, now announces its first new move and invests SEK 50 million in SiB Solutions, making Scania Growth Capital the largest minority owner in SiB Solutions.
“Reducing failures in the logistics chain is a key enabler for more efficient and sustainable transport solutions; picking, packing and loading represents the majority of errors in a typical logistic chain. We got in contact with the founding team at SiB Solutions about a year ago and they immediately got our attention, leading to this investment. We are excited to join the shareholder base and be a part of the exciting growth journey ahead together with the solid SiB team” says Daniel Riazzoli, Partner at East Hill Equity.
Goods worth about ten billion euros are gone missing in the logistics sector each month, and the costs for solving this are twice as much. SiB Solutions, founded in 2017, is a Swedish company operating in the logtech sector — combining proven technology such as video, with cutting edge technology such as AI, intelligent video analysis and industrial internet of things to solve this problem and deliver flawless logistics.
“Despite the current global financial situation, we have shown continued success by establishing our business in the USA, UK and the Netherlands. This investment makes it possible for us to accelerate our global expansion and continue changing the world of logistics through groundbreaking technology,” says Stefan Borg, CEO at SiB Solutions.
