Law firm Ashfords LLP has advised leading independent venture firm HV Holtzbrinck Ventures on its recent investment in digital freight forwarder Zencargo. HV Holtzbrinck Ventures led the Series A funding round, which brings the total raised by Zencargo to approximately $20 million.
With more than €1 billion under management, HV Holtzbrinck Ventures is one of the largest and most experienced independent European early stage venture funds. Funds managed or advised by Holtzbrinck have invested in over 165 companies, including significant successes such as Zalando, Delivery Hero, HelloFresh, Flixbus, SumUp, Scalable Capital, and many others.
HV Holtzbrinck Ventures led the Series A funding round with participation from DST Global, Pentland Ventures, and previous investors Samos, LocalGlobe and Picus Capital. This latest funding will help Zencargo to accelerate the expansion of its recently formed Supply Chain Analytics and Insights group.
Zencargo approaches logistics differently from the traditionally paper-based industry, transforming supply chain management through software and automation. Many of Europe’s leading growth organisations have already implemented the company’s digital platform, including some with billion-dollar supply chains. The speed at which the business can deploy solutions has seen the company grow extremely quickly.
The Ashfords’ team advising HV was led by the head of Ashfords’ Technology Sector, Chris Dyson, with assistance from Jon Groves and Ashfords’ specialist employment and intellectual property teams.
Chris Dyson commented: “We are delighted to have worked with the team at HV Holtzbrinck Ventures on this investment. The logistics industry is undergoing significant changes and it is great to see Zencargo disrupting the market by providing innovative global supply chain solutions.”