Startup using IoT tech for real-time parcel tracking to begin roll-out following investment
An Internet of Things (IoT) startup that is pioneering live parcel tracking has secured another tranche of funding that will support its rollout in conjunction with cross-border retailers and logistics firms.
London’s Hanhaa, which has developed its own device and monitoring system for parcels, has drawn an undisclosed amount of investment from Swedish packaging materials business BillerudKorsnäs AB in a strategic funding round that included participation from existing investors.
The startup’s ParceLive technology is a postcard-sized device that allows sender and receiver to chart the exact location of their package, while sensors chart temperature and humidity, and an accelerometer can detect jolts and drops.
Currently focused on cross-border retailers and firms transporting high-value, time- and temperature-pressured packages, the startup has also entered into official agreements with logistics businesses Sigma Retail Solutions and Avarto Bertelsmann.
Following the new investment, Azhar Hussain, Founder and Chief Executive Officer at Hanhaa, said: “With global parcel shipping volume forecast to grow by 20% percent by 2018, and an increasing reliance on third-party logistics providers, businesses are under increasing pressure to improve the delivery process.
“We are delighted to see ParceLive entering the retail distribution networks of some of the world’s leading brands and logistics service providers. We are very confident that these relationships will grow exponentially when they see how ParceLive transforms their business.”
An initial roll-out will consist of 500 devices tracking real parcels in conjunction with Hanhaa’s network partners, including Sigma which handles logistics for big-name retailers including Boots and Asda, with a further 20,000 devices set to be available by the middle of the year.
Operating on a subscription model, users will rent the devices from Hanhaa who will be responsible for return, maintenance and charging.
Anders Persson, Managing Director at BillerudKorsnäs Venture commented: “The ParceLive technology fits our long-term objective of bringing value-adding digital services into the packaging industry, which we refer to as the ‘Internet of packaging’.
“ParceLive also addresses sustainability concerns in a way that support BillerudKorsnäs’ strategy of challenging conventional packaging for a sustainable future.”
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