Traffic congestion, weather delays, blocked loading docks are only a few examples of the obstacles that delivery fleets face. One Cambridge startup said it can use artificial intelligence to help fleets bounce back from unexpected delays and deliver packages on time—a mission that Google is willing to support.
Wise Systems, a maker of AI-powered software that optimizes the routing of delivery fleets, announced on Thursday it raised $7 million in Series A funding led by Gradient Ventures, Google’s AI-focused venture fund.
Gradient Ventures is also one of the leading investors in Botkeeper, the Boston-based automated bookkeeping service that raised $18 million in Series A funding at the end of November this year.
"Wise will accelerate development of its autonomous dispatch and routing platform with industry-specific features for new markets," a company's spokesperson wrote in an email. "We will also be investing in additional integration capabilities."
Founded by a group of MIT and Harvard graduates in 2014, Wise Systems collects data such as real-time traffic, machine-learned service times and route-specific information to improve on-time deliveries and reduce fleet mileage. Currently, St. Louis-based brewing company Anheuser-Busch uses Wise Systems for its U.S. wholesalers, as does Dallas-based Bubbl, which is operated by off-duty police officers.
The current team of 17 people is looking to expand its engineering, sales, design, account management and operations departments.
"Autonomous dispatch and routing is the next-generation technology that logistics professionals need to meet the increasingly complex requirements of the rapidly evolving economy," said Chazz Sims, CEO of WiseSystems, in a statement. "Our technology positions fleets to meet today’s and tomorrow’s needs, reshaping delivery in the $10 trillion logistics and transportation industry."
The round, which brings Wise's total funding to date to $8.5 million, included participation from existing investors E14 Fund, Neoteny, Trucks Venture Capital and Fontinalis Partners.
