Fero, a cloud-based robotic process automation (RPA) and enterprise resource planning (ERP)-products company that has created TiA, the World’s 1st Intelligent Virtual Assistant for Supply Chain, is announcing the successful closure of the fundraising of $1.1 million from a boutique institutional investor and various prominent angel investors.
Fero provides an ecosystem of Transport ERPs and TiA – Transport Interactive Assistant, a software to free logistics employees from mundane tasks. TiA listens, understands, talks, & messages over various messaging platforms, just like Alexa built for Logistics enterprises.
“The raise is a great validation of the current success and future potential of Fero products and the team,” Carolin-Carmen Neubauer, Fero’s co-founder and COO says.
Fero, part of the Microsoft Growth X programme and its novel B2B innovation, is already being adopted and in use by marquee clients such as DSV, Gulftainer and Emirates Logistics with customers in GCC, India and the UK, helping operations employees to automate everyday tasks such booking loads, collecting shipment documents and checking on the status of drivers and be left with only having to manage exceptions.
With its new infusion of capital, the company looks to add tech engineers to its team to continue growing its product capabilities, increase its presence in Europe and further work on additional integrations with Freight ERPs. Fero’s Series A is targeted for starting to raise in Q4 2021 / Q1 2022.
