Fero Raises $1.1 Million To Improve Product Capabilities

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Fero, a cloud-based RPA and ERP-products company that has created TiA, the World’s first Intelligent Virtual Assistant for Supply Chain, recently announced the closure of a $1.1 million fundraising.

Fero provides an ecosystem of Transport ERPs and TiA – Transport Interactive Assistant, a software to free logistics employees from mundane tasks. TiA listens, understands, talks, and messages over various messaging platforms, just like Alexa built for Logistics enterprises.

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“The raise is a great validation of the current success and future potential of Fero products and the team,” said Carolin-Carmen Neubauer, Co-Founder and COO of Fero.

The power of the Fero software is the improved optimisation through enhancement of asset allocation with the help of applying machine learning based on a complex set of variables such as driver constraints, vehicle constraints, route constraints, all combined with customer behaviour when allocating and receiving the shipment.

With its new infusion of capital, the company looks to add tech engineers to its team to continue growing its product capabilities, increase its presence in Europe and further work on additional integrations with Freight ERPs.