Happy Friday.

Scheduled Shipment brings you latest updates in global commerce, supply chain, and logistics.

Top News

Maersk shares sank 18% following suspension of share buybacks and a 90% cut to forecasted 2024 profit.

Fueled by holiday shopping, Amazon Q4 profit surged to $10.6 billion, its strongest level in two years.

Forward Air ousts CEO Thomas Schmitt after S&P downgrades rating from B+ to BB-.

Massive Fundings

Zum, a 10-year-old Redwood City startup that provides an AI-driven school transportation system, raised a $140 million Series E led by GIC with participation from Climate Investment, Sequoia, and SoftBank. More here.

ProducePay, a 10-year-old Los Angeles startup that provides a financing and trading platform for the agriculture industry, raised a $38 million Series D led by Sygenta Group Ventures with participation from Avenue Capital Group, Anterra Capital, G2 Venture Partners, and Endeavor8. More here.

Mid-Size Fundings

OpenLogi, an 11-year-old Tokyo startup that provides a cloud-based logistics & warehouse platform, raised a $24.2 million Series D led by SMBC Venture Capital, Global Brain, Eight Roads, and Azora Corporate Management with participation from Hakuhodo DY Ventures, Persol Venture Partners, Shizuoka Capital, Japan Policy Finance Corporation, Cygames Capital, 31 Ventures, Spiral Capital, and Tokio Marine Holdings. More here.

Sensos, a two-year-old Israel startup that offers a real-time supply chain management platform, raised a $20 million Seed round led by Magneta Venture Partners with participation from Sumitomo, Israel Cargo Logistics, and JAL Ventures. More here.

akirolabs, a three-year-old Berlin startup that provides a SaaS platform for collaborative strategic procurement, raised a $5 million Seed led by High-tech Grunderfonds, OTB Ventures, D11z.Ventures, and Serpentive Ventures. More here.

Smaller Fundings

Nuqlea, a three-year-old Buenos Aires startup that provides a procurement marketplace for construction companies, raised a $750,000 Seed Extension led by Foundamental. More here.

Exits

Kura, a 14-year-old U.K. startup that provides a safeguarding tech platform for school bus transportation, was acquired by Zeelo, the algorithimic bus routing platform. The acquisition comes after Zeelo raised $14 million last year. More here.

Events

Feb 22 2024: re:Forge Manufacturing Startup Showcase

• Location: San Francisco

• Time: 6-8pm

• Description: Schematic Ventures is excited to host our next manufacturing startup showcase! During the event, the founders of San Francisco's top manufacturing startups will answer questions about their companies and the complexities of building and operating in the space.