Skip to main content

Market Overview

Logmore Secures €4.5M In Series A To Boost Logistics Quality Control

Logmore Secures €4.5M In Series A To Boost Logistics Quality Control

The following is a contributed article from a content partner of Benzinga

Condition monitoring service Logmore looks to help improve quality control across the supply chain through its dynamic QR tags and data logging technology. The company recently raised €4.5 million in a successful Series A funding round. 

The lockdowns and social distancing protocols caused by the coronavirus pandemic have prompted consumers to resort to online shopping to buy goods. These changes in consumer behavior have also put increased pressure on logistics companies to deliver. The post-pandemic global logistics market size is projected to reach $3.215 billion by 2021. 

To cope with this new normal, logistics companies and shippers must improve their quality control measures. Care must be taken when transporting volatile and perishable goods. Changes in temperature can cause fresh produce to spoil and medicines to lose efficacy, leading to waste.

Logmore’s technology is designed to help companies monitor shipment conditions. Its QR tags can log various data about packages and make the information readily available to shippers. The investment made by NordicNinja VC in partnership with Icebreaker VC, Trind Ventures, Tekton Ventures, and Jaakkoo-Taara is set to drive the company’s growth as it expands to serve more markets globally. With its successful funding round, Logmore is set to expand in North America, Asia, and Europe.

“After launching the service we’ve been working hard to make critical shipment condition monitoring such as temperature monitoring of food and pharmaceuticals easy, efficient and reliable. We are very excited to bring transparency and security into the global supply chains”, says Janne Juhala, founder and CEO of Logmore.

Why Shipment Monitoring Matters

E-commerce has provided distributors and merchants with the means to sell even with social distancing in place. Online retail sales are expected to grow as much as 32 percent in Q2 of 2020., Inc. (NASDAQ: AMZN) and Shopify Inc. (NYSE: SHOP) are benefiting from the trend as seen in the steady rise in their respective stock prices over the past three months. 

Most merchants are now ramping up their efforts to enable their own digital channels. However, they may have to tap third-party logistics providers to deliver their goods to customers. This brings the added challenge of ensuring that products and goods are delivered to their customers in the best condition. Returns and rejected deliveries are costly to deal with.

Improved shipment monitoring can mitigate these potential problems. Detecting issues with products as they move through the supply chain can allow for swift corrective action. Damaged or spoiled goods can readily be rerouted. Routes, schedules, and processes can also be adjusted to prevent problems from recurring.

What QR Data Logging Can Do

Logistics companies should be able to take advantage of increased demand for their services to double down on their efforts to improve. 

Solutions such as Logmore look to improve quality control in the supply chain and use QR tags to help supply chain operators monitor shipment conditions such as humidity, temperature, shocks, tilt, and ambient light. The tags can be easily integrated into packages to allow for monitoring shipments from the beginning until they reach the end user.

Logmore’s tags can log information to its internal memory and do not require Bluetooth or USB port connections to store and send out data. Users simply need to scan a dynamically generated QR code that contains all the data about the package using any mobile device camera or QR scanner. Condition data are immediately transmitted and updated into the service’s cloud-based portal which gives companies instant visibility throughout their supply chain.

Quality assurance teams can track down if an electronic device, for example, absorbed shocks that possibly damaged the product while in transit. Such information is useful when improving processes or claiming shipping insurance.

Improving Logistics Quality Control

Business and consumers are expected to do business remotely until such a time that the coronavirus threat subsides. Logistics will be crucial in the fulfillment of many transactions. As such, quality in this business area can be a differentiating factor for companies. 

The emergence of shipment monitoring technologies like Logmore should come as a welcome development. Quality control measures can help ensure that customers can satisfactorily receive their purchases and for merchants and distributors to avoid costs from product damage and waste.


Related Articles (AMZN + SHOP)

View Comments and Join the Discussion!

Posted-In: Logmore marketacrossFintech News Financing Startups General