Logistics infrastructure provider HyperTrack Inc. announced it has closed on a $25 million early-stage funding round today.
The funds from the Series A round will help it to capture a slice of what it says is a multibillion-dollar market for systems enabling last-mile logistics technology. HyperTrack says the emergence of the so-called gig economy has created massive demand for more accurate last-mile logistics infrastructure that can track the status of food and product deliveries in real time.
As same-day deliveries become the standard, HyperTrack says traditional logistics technologies are struggling to keep track of the “ground truth” of order lifecycles. It reckons that existing systems are simply inadequate when it comes to knowing exactly where a product is as it makes its way from a supplier to the customer. That results in a lot of unsatisfied consumers and inaccurate payments for delivery drivers, the company said.
To solve that problem, HyperTrack has created a mobile infrastructure encompassing order planning, assignments, location tracking and mapping application programming interfaces. These can then be pieced together by developers to rapidly build comprehensive last-mile logistics systems for their applications in a matter of days.
HyperTrack’s flagship product, also announced today, is called BuilderX. It provides all of the tools developers need to build tracking solutions for both scheduled and on-demand orders. As well as APIs, it also includes software development kits, custom business logic and workflows. Developers can use HyperTrack’s tools to save countless hours when building consumer- and driver-focused apps for mobile, live location tracking, plus the operations dashboard and cloud infrastructure required to support them.
Furthermore, BuilderX lets developers add extensive functionality to their apps, including self-improving routes, nearby search, geotags, geofences, flexible routes and on-time routes to accurately track products through every stage of the order lifecycle. Ultimately, developers will be able to build and deploy an extremely accurate and detailed last-mile logistics infrastructure without the assistance of a team of mobile, mapping and cloud experts, HyperTrack said.
HyperTrack co-founder and Chief Executive Kashyap Deorah said the growing need for same-day delivery requires the logistics stack to be reimagined. “Our solution is transforming massive industries as disruptors continue to use our API Platform to build logistics apps for the future,” he said. “This funding will help fuel our mission in changing the way all industries deliver products and services.”
BuilderX has won over a number of customers in Europe, Latin America, the Middle East and Southeast Asia already. They include Indian startup Spiritzone Ltd., which uses HyperTrack to track alcohol delivery orders to customers in real-time. Another happy customer is the German marketplace MagaLoop GmbH, which relies on HyperTrack to streamline order fulfillment to retailers across Europe.
Show your support for our mission by joining our Cube Club and Cube Event Community of experts. Join the community that includes Amazon Web Services and Amazon.com CEO Andy Jassy, Dell Technologies founder and CEO Michael Dell, Intel CEO Pat Gelsinger and many more luminaries and experts.