Zurich-based logistics digitisation company Nexiot is poised for further growth after securing a CHF15 million ($15.5 million) investment Round Series B-1.
SVC Ltd for Risk Capital for SMEs, an investment vehicle of Credit Suisse in Switzerland, is among the companies backing the Zürich-headquartered tech company, along with leading Swiss insurance company Mobiliar Versicherungen, which previously invested in Nexiot.
Nexiot will continue to develop new technology for the logistics industry, to further scale its team, and expand its commercial activities internationally.
Nexiot chief financial officer, Marcel Scheurer (pictured left) said: “The additional investment from a range of companies in Nexiot AG is a vote of confidence in our mission to develop unique solutions to drive global logistics digitisation.
“This development highlights our growing global success story and strengthens our leadership position in enabling the digital supply chain with true end-to-end solutions, in order to increase efficiency, as well as generate additional revenue streams and increase value for our clients and partners.”
Nexiot was launched in 2015 as a spin-off company from ETH Zürich, one of the world’s top technical universities, and is the result of over ten years of research in connectivity, complex systems, big data algorithms and ultra-low-power embedded technology.
The company has expanded rapidly since its founding, quadrupling its team in size and last year opened new offices in Hamburg, Germany, and Dallas, USA, with further ongoing international expansion plans.