Forto to raise $50 millions from Cherry Ventures, Northzone, Inven Capital, Cavalry Ventures and Maersk Growth.

Forto, a Berlin, Germany-based SAAS developer for freight business, announced securing funding of $50 millions.

The money was provided by a range of investors including Inven Capital, Cherry Ventures, Northzone, Cavalry Ventures and Maersk Growth.

Forto, founded in 2016 as FreightHub by Ferry Heilemann, Erik Muttersbach, Michael Wax (CEO) and Fabian Heilemann, is a digital freight service and supply chain management provider, offering transport services for sea, air and rail freight, built on digitized processes.

Prior to this round, Forto secured about $53M in outside capital, last one in 2019, as well as financing of €20 million from The European Investment Bank (EIB) in 2020.