Xeneta secures $80M investment

Xeneta, the ocean and airfreight rate benchmarking and market analytics platform, secured an $80 million investment at a $265 million valuation to accelerate its platform development, add datasets and support expansion into new markets. Investors of Norway-based Xenata include Apax Digital, the growth equity arm of private equity advisory firm Apax, as well as participation from New York-based Lugard Road Capital, according to a Sept. 13 release from Xeneta. While Apax Digital is a new investor, Lugard Road has been investing in the company since last year, a Xeneta spokesperson told Air Cargo World . [caption id="attachment_57131752" align="alignright" width="425"] Photo/CargoIQ[/caption] “We are researching and developing several ways to extract more value, create more insights from the data we collect,” the spokesperson said. “You should expect new developments in the area of emissions data for ocean freight — but not yet for air. We are continuously releasing new updates to the platform, and the funding will allow us to do this quicker for both ocean and air.” The spokesperson further noted that Latin America and Asia-Pacific are “two regions [where] we see great opportunity. “Given the instability in supply chains, industry professionals and their chains have to be resilient,” the spokesperson said. “They can only be resilient by having data — and readily available data which allows them to know how the market is moving and support business critical decisions.” Xeneta offers real-time, on-demand ocean container and airfreight rate market data, for both long-term contracts and spot trades, according to the release. Roughly 10 million rates are added monthly in addition to advanced analytics and insight on capacity, blank sailings, dynamic load factor, emissions data and more. Xeneta also acquired airfreight data analyst Clive Data Services in January, following a partnership between the two companies in June 2021.

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