SOFTWARE AND TECHNOLOGY, TRANSPORTATION
Spartan | February 06, 2023
One of the leading sensor software companies, Spartan Radar, recently announced the closing of an initial B round of $17 million headed by 8VC and joined by Microsoft, MaC VC, Gaingels, Prime Movers Lab, and others, which shows that investors are still interested in significant technology and products with clear plans for getting to market, even though the start-up community is facing strong economic headwinds. With the funding, Spartan will be able to bring its most important product, Ago, to market and grow its product team and Commercial Vehicle Division in Detroit, Michigan. As a result, the company's products help improve existing radars' performance and presence in Detroit. In addition, it allows a closer relationship with its current Tier 1 and OEM partners, who validate and test its software.
Spartan's goal is to make all vehicles safer, more reliable, and more self-driving by adding its software on them. Its Flagship product, Ago, is a software solution that improves the range and resolution of driver assistance systems. This allows automatic emergency brakes to work better, with fewer false alarms, and safer vulnerable road users (VRUs). Unlike the other new mobility start-ups that have proven challenging to commercialize due to the moonshot requirements, Spartan sells into the Advanced driver assistance systems (ADAS) and commercial vehicle markets today.
Hoplo is a Spartan commercial vehicle powered by Ago software to eliminate blind spots behind and along commercial vehicles. The company's products offer a shield of protection around 360 degrees for fleet and drivers. It was built by the people who have been protecting America's heroes for the last 30 years. The technology and products of the company have been developed in battle and are ready to disrupt the automotive mobility market, unlike science projects or R&D adventures.
About Spartan Radar
Founded in 2020, Spartan Radar is a next-generation mobility sensor software provider with expertise in Radar Digital Signal Processing and antenna design. The company's flagship software project, ' Ago,' is primarily used to boost the performance of existing radar designs in a computationally efficient manner. It is engineered to put sensor systems on the ground, air, and space. The company can improve upon tried-and-true technology by applying systems engineering and practical thinking. In addition, it's working on sensing software to boost transportation safety.
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SUPPLY CHAIN, TRANSPORTATION
VSE Corporation | January 25, 2023
Leading aftermarket distribution and maintenance, repair and overhaul (MRO) services provider, VSE Corporation, yesterday announced its all-new e-commerce fulfillment and distribution center in greater Memphis, Tennessee area. The company serves government and commercial markets with MRO services for air, sea and land transportation assets.
VSE’s new state-of-the-art center is spread over 450,000 sq.ft., double the size the current warehouse for its fleet segment. This new center provides VSE’s Wheeler Fleet Solutions segment with the additional capacity to meet the growing demand for aftermarket products for its commercial and e-commerce fleet customers.
VSE’s new fulfillment center is to support faster, same-day deliveries including order-to-delivery. This allows for additional shipping options, while ensuring the best level of services for the company’s aftermarket parts distribution portfolio. The new center harnesses a warehouse management system (WMS) and automation to increase productivity and capacity while maintaining order and delivery accuracy. The center can stock more than 175,000 SKUs when operating at full capacity.
John Cuomo, President and CEO of VSE Corporation, said, “The addition of our new distribution center is an important strategic milestone for our Wheeler Fleet Solutions subsidiary, one of the leading fleet-focused parts and services companies serving heavy, medium and light duty vehicles in the United States.” He further added, “During the last four years, our commercial fleet sales have grown from approximately 10% to 40% of Fleet Segment revenue, driven by share gains across both commercial fleet and e-commerce fulfillment channels. Looking ahead, we anticipate this distribution center will contribute more than $50 million in new, incremental sales to our Fleet segment in 2023.”
(Source – Business Wire)
About VSE Corporation
VSE is a customized solution provider to support mission-critical platforms for commercial and government aircraft, ships and vehicles. The company is registered as a professional services and supply chain management firm primarily offering its services to Fleet Management Services, Federal & Defense Services, and Aerospace Distribution & Repair. It provides technical and engineering services to operators and owners of equipment and transportation assets, large, mission-critical fleets of aircrafts, vehicles and ships.
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LOGISTICS
WiseTech Global | January 31, 2023
WiseTech Global, the developer of CargoWise, a logistics execution software, recently acquired Envase Technologies (Envase), a transport management system software provider for drayage (container haulage), intermodal trucking, and landside logistics in North America. The transaction was valued at US $230 million. Envase was purchased from Firmament, a private investment firm and supply chain investor, and some other shareholders.
Envase's carrier solutions automate and provide visibility for container movement throughout all import and export haulage processes, from rail and port terminals to destination. With over 1,300 customers in North America, the company serves ports, depots, trucking companies, warehouses, and more. It is anticipated that the company will generate around US$35 million in revenue for the fiscal year 2023, with an EBITDA margin in the mid to low 20% range.
WiseTech will fund the transaction with a mix of cash (US$161 million) and new WiseTech Global shares issued to the vendors (US$69 million). The deal is expected to close in February 2023. Furthermore, existing cash reserves will cover the one-time transaction costs of around US$10 million.
"This is a strategically significant acquisition in landside logistics, which extends and strengthens our position in one of our six key CargoWise development priority areas, and we're extremely pleased to have the Envase team join the WiseTech Global group," shared Richard White, Founder and CEO of WiseTech Global.
(Source – BusinessWire)
About WiseTech Global
Based in Alexandria, New South Wales, WiseTech empowers the world's supply chains through innovation and global technology. The company is improving connectivity, productivity, and resource usage for more than 18,000 logistics companies in over 165 countries. Its customers include 24 of the 25 largest global freight forwarders and 41 out of the top 50 third-party logistics providers globally. The company continuously invests in product development to create technology that prioritizes highly scalable, long-term solutions.
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