Investors in freight and logistics technology are on the increase following the outbreak of the Covid-19 pandemic.So says Julian Counihan, a general partner at Schematic Ventures, an early-stage venture capital fund. He adds that freight technology has become a trendy and highly sought-after space. “The latest wave of interest began in 2020 and increased in 2021. We are continuously seeing new faces investing in the sector as more opportunities have opened up.”Counihan attributes this interest to the global coronavirus pandemic, which played a big role in highlighting the importance of the supply chain and the impact it has on ordinary people when disrupted.“The past two years have seen a surge of investment interest in freight technology that is unprecedented,” he said during an online webinar hosted by the digital freight booking platform, Freightos.“In 2018 and 2019, the drivers of technology were not that high. But we really started to see major venture funds not just show an interest, but also start making public statements around supply chain and investment into it in 2020. No doubt Covid-19 was the driver of this.”Continuing his webinar address, Counihan pointed to the online supply chain being far more complex than the traditional ship-to-shore operation. He said the explosion of e-commerce during the early days of Covid-19 highlighted the importance of supply chains and the need for investment.“I think that, more importantly, it highlighted the need for supply chain technology and it definitely drove the investments we are seeing today.”
