eYard, a cloud-based AI power optimisation engine that helps container terminal operators to reduce costs and improve operational efficiency, has raised €800,000 ($964,130) 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 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, “The port and shipping industries require more digitalisation 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.”