Why we invested in Portcast?
We at Susquehanna Asia VC have closely monitored the logistics sector, recognising its potential to revolutionize global trade. When we discovered Portcast, we saw more than just another startup, we saw a forward-thinking team addressing the critical challenges in ocean freight.
The ocean freight industry is crucial to global trade and has long struggled with inefficiencies. With more than 90% of the world’s goods transported by sea, it is surprising how opaque the transit of shipping containers can be which results in delays and escalating costs affecting the entire supply chain. The challenges in this industry are as extensive as in the other modes of transportation, such as air and rail freight. Supply chain teams at manufacturers and freight forwarders often navigate a maze of carrier websites and manually track shipments with minimal real-time visibility. This fragmented process not only consumes time and resources, but it can be of limited effectiveness without critical data. Consequently, 90–95% of containers experience delays, leading to costly demurrage and detention fees that can severely impact profit margins or working capital cycles.
Based in Singapore, Portcast is led by Nidhi Gupta, who is a seasoned veteran of the logistics industry. She and her team have negotiated and gained access to difficult-to-gather data that underpins their software solution and provides a new level of visibility to the industry. Utilizing AI for predictive visibility, Portcast delivers unparalleled clarity in ocean and air freight. Their real-time visibility platform consolidates over 200 diverse data sources, from terminal information and carrier schedules to unstructured shipping documents and proprietary data in ERP systems, into a cohesive view of the entire supply chain. With Portcast’s solution, the customer is able to not only get visibility on shipments but also identify what shipments are at risk and possible alternatives to solve the risks.
What distinguishes Portcast is its ability to convert data into actionable insights. Their technology enables customers to predict the impact of external risks on the supply chain proactively, identify opportunities to save operating costs, and automatically audit freight charges. This proactive approach not only saves time but also reduces costs by cutting down on detention and demurrage fees. Portcast’s value proposition lies in its user-friendly platform, designed specifically for freight forwarders and manufacturers. By offering comprehensive shipment visibility, Portcast unlocks significant time and cost savings.
For global enterprises, Portcast delivers strategic insights into carrier reliability, safer trade routes, and overall ocean freight expenditure. This data-driven approach to procurement and route selection equips users with a competitive advantage in a complex global market. Portcast’s influence extends beyond shippers and freight forwarders to logistics-tech providers who are incorporating its solutions, highlighting the platform’s wide applicability and scalability. Portcast is not only improving visibility but also establishing a new standard in data-driven logistics decision-making, impacting industry leaders across freight forwarding, shipping, and logistics technology.
What excites us about Portcast is not only its current capabilities but also its future potential. The company is expanding into trade finance, assisting banks in verifying trade documents and reducing fraud. This move highlights Portcast’s ability to pinpoint and tackle additional pain points within the global trade ecosystem with its unique data sets.
Our decision to invest in Portcast aligns seamlessly with our mission to back emerging platforms which are transforming traditional markets through innovative technology. We look for entrepreneurs who combine vision with the ability to execute and scale quickly. Portcast, with its distinctive data sets, strategic partnerships, and expanding customer base, embodies these qualities.
If you are building in the logistics or supply chain sector, please write to Abhilash Karri at abhilash.karri@sig.com – we’d love to share our learnings and help out along the journey.