Smartlane raised over €6.2 m in grants and equity.

Smartlane, a Munich, Germany-based SAAS developer of AI-based transport optimisation solutions, announced securing funds in the company worth €6.2 million.

The money is a combination of €1.7 million EU support funds and a €4.5 million ($5.1M) series A equity round backed by Jova Direkt Invest GmbH and existing investors.

The proceeds will be used to double the size of its team, strengthen its market leadership for AI-based transport optimisation, and continue its product development towards enabling autonomous logistics systems to fully manage the dispatch process.

Smartlane, founded in 2015 by Dr. Mathias Baur, Monja Mühling and Florian Schimandl, developed a tool called Smartlane Transport Intelligence, an AI-based technology platform used for automating planning and optimization processes in transport logistics. Through its AI, Smartlane Transport Intelligence digitalises the manual dispatching and transport planning process in part-load distribution logistics, even when the data basis is patchy.