Riverwood Capital invests $25m in Cognosos
Riverwood Capital’s principal Joe De Pinho and Eric Ma, vice-president, are becoming a member of the board of administrators at Cognosos.
Acccording to Cognosos, the substantial funding from Riverwood Capital can be used to expedite progress throughout all components of its enterprise, serving to to help recruitment and the event of platforms to convey better efficiencies for its clients.
Cognosos expertise, together with its real-time location providers (RTLS), helps carmakers and logistics suppliers observe the whereabouts of completed autos within the supply course of. The corporate mentioned that it tracked over 37m asset actions for its clients in 2022, together with these in completed car logistics and yard administration. The expertise combines Bluetooth Low Vitality with AI, and proprietary long-range wi-fi networking, to enhance efficiency and accuracy, based on the corporate.
Carmakers and their logistics suppliers continues to be working to supply better transparency on the supply of autos to clients, particularly at a time when demand is excessive and inventories are low following the manufacturing disruption attributable to the Covid pandemic. Finding autos throughout a number of yards is critical for processes together with accent set up, high quality auditing, battery charging, investigating any suspected manufacturing drawback and retrieval for cargo. Cognosos expertise presents to find autos extra simply.
“We’re impressed with the Cognosos workforce, their distinctive expertise and are excited to associate with them on the subsequent section of progress,” mentioned Francisco Alvarez-Demalde, co-founder and managing associate at Riverwood Capital. “The Firm’s providing has a superior whole value of possession and less complicated deployment whereas sustaining business main accuracy. Logistics and processes’ optimization are taken to a brand new stage, in contrast with legacy options,” he added.
