The Inven Capital Fund, held by the CEZ Group, completed its second investment this year by acquiring the Berlin-based Forto-based stock monitoring package, which offers digital services and global merchandise supply solutions. The financing round of 2020 took place over several months, and investors entrusted Forto with a total amount of 43 million euros. Forto has a portfolio of 2,500 customers in Europe and Asia.
The B1 financial round was initiated by Inven Capital. The additional funds were provided by the Iris Capital Development Fund, which specializes in the digital economy, along with existing investors such as the Maersk or Northzone venture capital fund and Cherry Ventures.
In the summer, Forto also received € 20 million from the European Investment Bank through the European Fund for Strategic Investments (EFSI). In conclusion, the company received 63 million euros in 2020 alone, earning a total of 108 million euros since its establishment, four years ago.
Forto will use the new financial sources to accelerate the development of its order management technology and value-added services, as well as for development in the European and Asian markets. This fall, the company opened its fifth headquarters in Asia, specifically in Singapore, one of the largest business centers in the world. The volume of orders from headquarters in Asia has tripled compared to last year and Forto has entered the Top 20 Freight Forwarders.
“The functionality of many sectors depends on the transparency, flexibility and timeliness of international transport, and the energy sector is no exception. Thanks to digital solutions, international transport can be more efficient and more environmentally friendly. The current increase in Forto’s annual revenues proves that there is a significant demand for smart solutions,”said Tomas Pleskac, Member of the Management Board and Head of the New Energy Department of the CEZ Group.
Forto has developed a digital platform that simplifies, increases the level of efficiency, transparency and reliability of international freight chains, mainly between Asia and Europe.
Its order management software solution is used by over 2,500 customers (eg Viessmann, manufacturer of heating, cooling and industrial systems), in wholesale and retail trade (eg Miele, or Zero fashion chain) , e-commerce (ex: Home24).
The digital platform uses real-time data and achieves an excellent rating and reduces the administrative costs of companies by 30%. “We are proud to contribute to ensuring that European companies can emerge from this volatile period in a stronger position to ensure successful global transactions,” said Michael Wax, Co-founder of Forto.
With a more efficient logistics process, Forto helps reduce the level of transport emissions, which currently accounts for 1/5 of total global carbon emissions. Moreover, the company offers its customers the opportunity to choose their means of transport, giving them a perspective on the options with the lowest emission level, as well as offset programs through which they can neutralize emissions generated by investing in environmental projects.