- Built by industry and technology experts, eYARD raises €800K in funding.
- The round was led by the Spain- and US-based VC Mundi Ventures, with participation from NLA, the logistics accelerator based in Hamburg, and two maritime groups with global presence.
- eYARD is an AI-driven optimization engine with the ability to significantly reduce container terminal cost, improve efficiency and bring visibility to yard operations.
Monday Nov 23rd 2020, Vigo: eYARD, a cloud based AI power optimization engine that helps container terminal operators to reduce costs and improve operational efficiency, has raised €800K in a new round of funding. The financing was led by Mundi Ventures, an international Venture Capital fund, with participation from Hamburg based NLA, and two maritime groups with global presence.
eYARD’s core product increases the efficiency of container terminals with artificial intelligence and data analytics, resulting in more reliable, cost efficient and sustainable operations. The AI- powered platform reduces the unproductive moves of containers in the yard, facilitates the automation of complex processes and provides visibility and insights with smart reporting. Ports in Europe are already benefiting from eYard’s platform reducing unproductive moves and terminal costs by 25%.
Financing from the round will be used to continue the global expansion of eYard, to hire key individuals in the product development side as well as to facilitate client integrations.
eYARD substantially reduces the time and costs that terminal operators need to dedicate to managing the yard operationPablo Fernández-Peña Curbera
“eYARD substantially reduces the time and costs that terminal operators need to dedicate to managing the yard operation” said Pablo Fernández-Peña Curbera, eYARD ́s CEO and co- founder, in a statement. “With the new funding from Mundi Ventures, eYARD is well-positioned to accomplish its vision for the coming year and deliver the best product to its clients. We will maintain and further strengthen our customer focus enabling smarter world trade.”
Javier Santiso, CEO and Founder of Alma Mundi Ventures, said that “the port and shipping industries require more digitalization and intelligent automation. At Mundi Ventures we back top entrepreneurs and state-of-the-art technologies, and this is the case of eYard. They are ambitious and seasoned industry professionals with a great vision. And in addition, they were born in a shipping hub such as Vigo, in the region of Galicia in Spain, not far away from other outstanding ventures such as Inditex and Farfetch. Not all unicorns are born in garages, sometimes they are born in a yard, a modest dress workshop or a medieval town.”
Tanja Rosendahl, Managing Partner of NLA , said that “We at NLA are pleased to be part of eYard’s investor community and to support the company in its further development together with the founder and our co-investors bringing eYard to be the next standard for terminal optimization.”
Founded in 2018, eYARD is a technology platform that is pioneering AI application for complex problems in container terminals. eYARD uses advanced deep reinforcement learning techniques to allow the algorithm to learn the best possible outcome for complex problems reducing human mistakes and inefficiencies.
The business benefits of eYARD’s software include reducing the time needed to load and unload vessels, reduce yard management costs and improve asset allocations. While providing full optimization solution, eYARD also significantly reduces the CO2 footprint and brings management visibility of the terminal operations to a new standard. As a result, terminal operators can improve margins and attract more carriers.
For more information please visit: www.eyard.io
About Mundi Ventures:
Mundi Ventures is a Venture Capital fund with a portfolio of €200 million, focused on European tech investments, with a special vehicle and focus on Insurtech. It has investments in London, Paris, Berlin, Amsterdam, Zurich, Stockholm, Madrid, Barcelona and Tel Aviv, and has invested in Insurtechs like Wefox (Zurich and Berlin), deep techs like Synthesized (London) and fintechs like Clarity.ai (New York and Madrid). They have offices and presence in London, Madrid, Barcelona,Tel Aviv and Seattle. They leverage a network of 750 C-level executives, named Club Mundi, that spans across more than 50 cities around the world, with members leading companies such as Amazon, Cisco, Nokia, Telefónica, PepsiCo, Renault, Intel, Radisson, Schneider or Paypal.
For more invitation please visit: : www.mundiventures.com
About NLA – Hamburg:
NLA VC is a venture capital firm based in Hamburg, that invests in ‘deep-tech’ across the logistic sector including machine learning, AI, robotics, and advanced engineering and materials, and data-focused propositions based on disruptive algorithms. All of the firm’s portfolio companies are capable of dominating their respective markets on a global scale.