Port of Hamburg

06/06/2024 | Press release | Distributed by Public on 06/06/2024 04:52

SmartLoC secures 1.8 million Euros seed funding

06 Jun 2024 11:30 Digitalization

SmartLoC, a pioneering startup focused on developing a cutting-edge, fully digital B2B payment solution based on the monitoring of shipments and specifically tailored for international trade, today announces the successful closure of its seed round, raising a total of 1.8 million euros. The round is led by High-Tech Gründerfonds (HTGF), one of the leading seed investors in Europe. Other investors include Loggerhead -Ventures, an early stage climatech VC from Greece, the MBG Mittelständische Beteiligungsgesellschaft Schleswig-Holstein mbH and several business angels.

SmartLoC's innovative cloud platform aims to streamline and digitize the cumbersome process of B2B payments in international trade, providing businesses with a seamless, secure, and efficient solution to manage cross-border transactions. With a focus on leveraging advanced technologies, including IoT, blockchain and AI, SmartLoC is poised to revolutionize the way businesses conduct financial transactions globally following the paradigm of the Physical Internet.

Britta Balden, CEO of SmartLoC, expressed her excitement about the successful completion of the seed round, stating: "We are thrilled to have secured this significant investment, which will enable us to accelerate the development of our groundbreaking platform and scale the business. In SmartLoC, we are committed to empowering businesses with a modern, fubefficient, and secure payment solution that addresses the complexities of international trade. With the support of HTGF and our other seed investors, we are confident in our ability to drive positive change in the industry and deliver exceptional value to our customers."

Martin Möllmann, Senior Investment Manager at HTGF, commented: "We are excited to partner with SmartLoC on their journey to redefine B2B payments for international trade. The team's deep expertise in finance, technology, and international trade, combined with their innovative approach, positions SmartLoC as a leader in this rapidly evolving market. We believe that SmartLoC has tremendous potential to disrupt the status quo and deliver significant value to businesses worldwide. We look forward to supporting them as they continue to innovate and grow."

Commenting on the environmental potential of the SmartLoC platform, Evangelos Kosmidis, CEO and GP of Loggerhead Ventures, said: "We firmly believe in the value proposition of SmartLoC, to bring about supply chain intelligence in international trade and achieve significant CO2 reduction. SmartLoC team combines the business experience and technical know-how needed to grow fast and revolutionize international trade and we will be supporting their upcoming steps towards expansion., with emphasis on their development and sales activities in Greece."

With the completion of the seed round, SmartLoC is well positioned to advance its platform development, expand its team, and accelerate its go-to-market strategy. The company remains focused on its mission to empower businesses with a modern and efficient payment solution that enables seamless transactions across borders.

About SmartLoC:
SmartLoC is a pioneering startup focused on developing a modern and fully digital B2B payment solution tailored for international trade. Leveraging advanced technologies such as IoT, blockchain and AI, SmartLoC aims to streamline and digitize the process of cross-border transactions, empowering businesses with a seamless, secure, and efficient payment platform. More information at: www.smartloc.link

About High-Tech Gründerfonds:
The seed investor High-Tech Gründerfonds (HTGF) finances tech start-ups with growth potential and has supported more than 750 start-ups since 2005. With the launch of its fourth fund, HTGF now has about 1.4 billion euros under management. Its team of experienced investment managers and start-up experts support young companies with expertise, entrepreneurial spirit and passion. HTGF's focus is on high-tech start-ups in the fields of digital tech, industrial tech, life sciences, chemistry and related business areas. To date, external investors have injected about 5 billion euros of capital into the HTGF portfolio via more than 2,000 follow-on financing rounds. In addition, HTGF has already successfully sold shares in more than 180 companies.

Fund investors in this public-private partnership include the German Federal Ministry for Economic Affairs and Climate Action, KfW Capital and 45 companies from a wide range of industries.

About Loggerhead Ventures:
Loggerhead Ventures is an equity fund, focusing on mission driven deep-tech startups established in regional innovation ecosystems in Greece, capitalizing upon the opportunities for green and digital transformation of the Greek economy. Loggerhead Ventures is managing a €10 million fund for 10-15 early-stage companies in disruptive technological fields enabling a strong positive environmental impact.

The SmartLoC-Team has pioneered a cutting-edge, fully digital B2B payment solution based on the monitoring of shipments.

Press contact

Alessandro Vaglini
E-Mail: [email protected]

High-Tech Gründerfonds
Tobias Jacob I Senior Marketing & Communications Manager
Tel.: +49 228 - 82300 - 121
E-Mail: [email protected]

Loggerhead Ventures AEDAKES
Evangelos Kosmidis I CEO
Τel.: +30 6947 566800
E-Mail: [email protected]

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