The Chicago logistics software startup Logiwa plans to expand its customer base in North America and internationally and continue to modernize the “old school” warehouse management system (WMS) market following a $16.4 million found of venture capital, the five-year-old firm said today.
The “series B” round was led by NewRoad Capital Partners, which said that it is backing the firm because its software can help retail markets evolve to meet growing e-commerce order volumes and consumer expectations.
Logiwa says its cloud-based fulfillment platform is designed for high-volume, direct-to-consumer (DTC) businesses including both brands and third party logistics providers (3PLs).
“The next winners in e-commerce will be those who best manage their supply chain and order fulfillment operations,” Erhan Musaoglu, CEO and founder of Logiwa, said in a release. “A high bar for delivery speed and accuracy has been set by Amazon and other giant online retailers, and so the field of competition is shifting from the online shopping experience to the order delivery experience.”
According to Logiwa, it can meet those demands through its artificial intelligence (AI)-powered automation algorithms, advanced analytics, and integrations with other platforms.