NEWARK, NJ, Sept. 8, 2021—Clockwork Logistics Systems(Clockwork) concluded a $5.5 million seed round from leading logistics venture investors. The Clockwork platform extends existing operating systems to truck carriers and truck drivers to capture precise Proof of Delivery (POD) data in the delivery moment. Customers utilize Clockwork to digitize arrange of complex deliveries including Port Drayage (Haulage), Less than Truck Load (LTL), Expedited Air and Final Mile delivery.
“When it comes to digitizing motor carriage, global shippers face a classic hardware vs. software dilemma,” explains Rob Haney, CEO and founder of Clockwork. “There is no shortage of hardware you can affix to the truck to provide ‘visibility’, but visibility is not as valuable as Proof of Delivery (POD). At Clockwork we offer a software and mobility solution that captures details of the POD, alerts your team if the driver encounters unexpected surcharges and immediately reports if the product is short or damaged.”
Customer expectations around deliveries have shifted and the need to more closely manage an existing truck carrier network has never been greater. Clockwork is geared toward supply chain and logistics leaders who want to make a positive change but cannot detangle from existing legacy systems. Clockwork is built to bolt onto an existing operating system and then transform the relationship with the carriers and drivers. Clockwork enables shippers to double-click on the carrier and see performance metrics at the driver level.
Clockwork manages 1.2 million shipments annually across multiple geographic regions including N. America, Brazil, Singapore, Taiwan, Thailand, China, Japan, Korea, Europe, and Africa. The respective headquarters of the seed round investors match the global stance of the platform. The round is led by Newtown Partners, via the Imperial Venture Fund from their office in South Africa, and joined by Newark Venture Partners, PSA UnboXed based in Singapore, Vineta Ventures based in Hamburg and Estes Final Mile, a wholly owned subsidiary of Estes Express Lines, in Richmond, Virginia.
Llew Claasen from Newtown Partners explains their unique way of identifying investment opportunities. “We first research where we think there is a great area to invest and then find the startups going after it and most likely to be successful. We identified international delivery digitization as an important area with lots of future market potential, and then we found Clockwork as an early leader. We continue to be impressed by the experience of the team, their product and the traction they have with industry leaders.”
About Clockwork Logistics Systems
Clockwork extends existing legacy logistics operations into cloud and mobility by automating the tender, dispatch, and delivery processes. Shippers leverage Clockwork to gain control over complex international deliveries from port drayage, to expedited air shipments to warehouse delivery to final mile. From motor freight contract and rate management to real-time proofs of delivery (POD), Clockwork’s platform digitizes the delivery moment to improve the lives of everyone who is involved in the movement of goods. https://www.clockworkdelivery.com/
About the Imperial Venture Fund
JSE-listed Imperial Logistics (Imperial) partnered with US venture capital firm, Newtown Partners, to launch a corporate venture capital fund with an initial capital commitment of $20m. The fund identifies, invests in and develops emerging technology and disruptive business model startups in supply chain management, logistics and healthcare. Learn more at www.newtownpartners.com
Imperial is an African focused provider of integrated market access and logistics solutions. With a focus on the following key industries - healthcare, consumer, automotive, chemicals, industrial and commodities - we take our clients’ products to some of the fastest growing and most challenging markets in the world. Ranked among the top tier global logistics providers and listed on the JSE in South Africa, we seek out and leverage new technology to deliver innovative, end-to-end solutions. Through our significant African footprint and international expertise, and with the support of our 25,000 people, Imperial’s purpose is to connect Africa and the world - and to improve people’s lives with access to quality products and services. www.imperiallogistics.com