China-US Industrial Cooperation Partnership Leads Series E in Supply Chain Tech Firm Project44
Posted on 06/02/2021
Chicago-based Project44, Inc. is a supply-chain technology provider. The company raised US$ 202 million in a Series E financing round led by funds managed by Goldman Sachs Asset Management and venture capital firm Emergence Capital Partners. Project44 connects, automates, and provides visibility into key transportation processes. The company seeks to construct a ubiquitous logistics network that every freight shipper uses to connect to every carrier in a transparent and efficient manner.
One of the leading investors is a joint fund managed by Goldman Sachs Group Inc. and China Investment Corporation called the China-US Industrial Cooperation Partnership, L.P., a 2017-formed vehicle. Project44 claims in June 2021 it crossed US$ 50 million in annual recurring revenue, which is up 100% year over year. Project44 has more than 600 customers, including some of the world’s largest brands such as Amazon.com, Inc., Walmart, Nestlé, Starbucks Corporation, Unilever, Lenovo, and P&G. Customers hail from a variety of industries, including CPG, retail, e-commerce, manufacturing, pharmaceuticals, and chemical.
San Francisco-based supply chain decision-making automation platform Locus raised US$ 50 million in Series C funding. Singapore’s GIC Private Limited led, and was joined by Qualcomm Ventures LLC and insiders Tiger Global Management and Falcon Edge. Noted angel investors Amrish Rau, CEO of Pine Labs, Kunal Shah, CEO of Cred, Raju Reddy, founder of Sierra Atlantic, and Deb Deep Sengupta, former President & MD, SAP South Asia, also participated in the round.
Mara Labs, Inc. is doing business as Locus.