Toronto logistics-AI startup raises $18M seed led by a Bay Street-backed fund
AI-generated image · Bay Street Wire
The company, which builds route-optimization software for mid-size freight carriers, says the round will fund a US expansion by early next year.
A Toronto-based logistics software startup has closed an $18 million seed round, one of the larger early-stage rounds for a GTA company this year, with participation from a Bay Street-affiliated venture fund making one of its first AI bets.
The company's platform helps mid-size freight carriers optimize routing and load planning, a niche it says has been underserved by larger enterprise logistics software vendors.
Founders say the funding will support a US sales push starting in the first quarter of next year, with hiring concentrated in Toronto for now.