Intelligent logistics platform Raft raises £23m - BusinessCloud - BusinessCloud

Intelligent logistics platform Raft has raised £23 million in Series B funding to expand the development and deployment of its automation products. Raft, formerly known as Vector.ai, uses AI to help freight forwarders and customs brokers streamline their operations. The funding round was led by Eight Roads, with participation from Bessemer Venture Partners, Episode 1, Dynamo Ventures, and Moguntia Capital. Raft plans to hire more employees and improve data collaboration across the ecosystem. The platform's customers include global logistics providers such as EMO Trans and Navia Freight.

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