Japanese trading and investment company Mitsui & Co has invested $10 million in US-based supply chain visibility company FourKites, according to an announcement.
The investment will help further expand FourKites’s supply chain visibility network in the APAC region and ease ongoing supply chain challenges in the region.
The investment is part of an ongoing strategic relationship between FourKites and Mitsui, which the two companies intend to formalize by the end of the year.
Mitsui is planning to invest significant resources to expand FourKites’s coverage in APAC, including sales, customer service, operations, and product localization. The strategic partnership will initially focus on Japan, with plans to jointly expand throughout APAC.
In 2021, FourKites raised $100 million in a Series D funding round led by Thomas H. Lee Partners, L.P, with participation from Qualcomm Ventures, LLC, Volvo Group Venture Capital AB and Zebra Technologies, as well as existing investors August Capital, CEAS Investments, Hyde Park Angels, Hyde Park Venture Partners and Bain Capital Ventures.
Founded in 2014, FourKites combines real-time data and powerful machine learning to help companies digitize their end-to-end supply chains. Its platform extends visibility beyond transportation into yards, warehouses, stores and beyond.