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Scheduled Shipment #73
$229 million raised across 13 startups; 2 exits for $2.1 billion; Pallet pulls in $27M from General Catalyst
Greg Brainard
May 30, 2025
Happy Friday.
E2Open got brought for $2.1 billion by Australia's WiseTech Global - the latest sign that supply chain giants are buying market share, not innovation. But while incumbents are playing defense, AI startups across logistics, energy, and construction continue to grow.
$229 million raised across 13 startups. 2 exits for $2.1 billion.
Let’s dig in.
Top News
New Zealand-based Outset Ventures raised $25 million Fund II to invest in deep tech.
Kraft Heinz confirms $3 billion investment in US manufacturing
Timeline
Imagine if we stopped building airplanes after the first big airline accident.
It's actually worse than that since cheap reliable energy is far more important than travel.
credit: @isaiah_p_taylor
— Andrew Côté (@Andercot)
8:33 PM • May 23, 2025
Massive Fundings
Cart.com, a 5-year-old Houston, TX startup that provides omnichannel logistics services, raised a $50.0 million financing from BlackRock, Neuberger Berman, and eGateway Capital. More here.
Buildots, a 7-year-old Tel Aviv, Israel startup that provides an AI-powered construction progress tracking platform, raised a $45.0 million Series D led by Qumra Capital with participation from OG Venture Partners, TLV Partners, Poalim Equity, Future Energy Ventures, and Viola Growth. More here.
Arrive AI, a 5-year-old Indianapolis, IN startup that provides automated last-mile delivery services, raised a $40.0 million financing led by Streeterville Capital. More here.
Pallet, a 3-year-old San Francisco, CA startup that provides AI agents for logistics optimization, raised a $27.0 million Series B led by General Catalyst with participation from Bain Capital Ventures, Activant Capital, Bessemer Venture Partners, Dan Lewis, Amit Agarwal, Girish Rishi, Michael Capellas, Matt McKinney, and Aatish Nayak. More here.
Mid-Size Fundings
Gridcare, a 1-year-old Redwood City, CA startup that provides power solutions for AI data centers, raised a $13.5 million Seed led by Xora with participation from Acclimate Ventures, Aina Climate AI Ventures, Breakthrough Energy Discovery, Clearvision, Clocktower Ventures, Overture Ventures, Sherpalo Ventures, and WovenEarth. More here.
SpAItial, a 1-year-old London, UK startup that provides foundation models for the 3D physical world, raised a $13.0 million Seed led by Earlybird Venture Capital with participation from Speedinvest. More here.
Secro, a 4-year-old Charleston, SC startup that provides a blockchain-based trade finance platform for the commodities supply chain, raised a $10.0 million Series A led by Assembly Ventures and Sway Ventures with participation from Signal Group, Wilhelmsen, Innoport, TMV, and Augment Ventures. More here.
Alrik, a 3-year-old Stockholm, Sweden startup that provides a construction logistics operating system, raised a $8.0 million financing led by People Ventures with participation from Pi Labs. More here.
Atomic Canyon, a 1-year-old San Luis Obispo, CA startup that provides an AI-powered operations platform for nuclear energy producers, raised a $7.0 million Seed led by Energy Impact Partners with participation from Commonweal Ventures, Plug and Play Ventures, Tower Research Ventures, and Wischoff Ventures. More here.
Neuron Factory, a 2025-founded Redwood City, CA startup that provides AI coworkers for the construction industry, raised a $6.0 million Seed from Activant Capital, Colle Capital, Karman Ventures, Punch Capital, and Filip Cordeel. More here.
RoboForce, a 2-year-old Milpitas, CA startup that produces AI-powered robots for industrial applications, raised a $5.0 million financing from undisclosed investors. More here.
Smaller Fundings
Endra AI, a 1-year-old Stockholm, Sweden startup that provides an AI-powered building design platform, raised a $3.4 million Pre-Seed led by Norrsken VC with participation from Maximilian Viessmann via Vito One, Johan Edenström via Pejoni Ventures, Simon De Château, Oscar Höglund, Tom Höglund, Edward Höglund, and Oljibe Invest. More here.
Litehaus, a 1-year-old Lisbon, Portugal startup that provides a residential real estate construction platform, raised a $1.7 million Pre-Seed led by Cornerstone VC and Explorer Fund with participation from Claster Group and Pascal Levy. More here.
Exits
E2Open, a 31-year-old Addison, TX company that provides a connected supply chain platform, was acquired for $2.1 billion by WiseTech Global. More here.
Sentera, an 11-year-old Saint Paul, MN company that provides a remote imagery platform for agriculture, was acquired for an undisclosed amount by John Deere. More here.
Thanks for Reading!
-Greg
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