Swap raises $40 million to streamline e-commerce logistics with its AI-powered platform

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Swap raises $40 million to streamline e-commerce logistics with its AI-powered platform

Swap has successfully raised $40 million in Series B funding, led by ICONIQ Growth, to enhance its logistics platform for e-commerce brands. Founded in 2022, Swap consolidates various logistics functions into a single system, allowing brands to manage cross-border shipping, order tracking, and inventory forecasting more efficiently. The integration of AI into its platform aims to streamline operations and support international expansion.

The funding will enable Swap to enhance its AI capabilities, particularly in inventory management and operational processes. With a focus on brands generating between $5 million and $100 million in revenue, Swap plans to expand its services to larger clients and international markets. Current clients include notable fashion labels, and the company aims to open a new office in New York to support its growth.

• Swap integrates AI for inventory management and operational processes.

• Funding will support international expansion and enhance logistics capabilities.

Key AI Terms Mentioned in this Article

Artificial Intelligence

AI is utilized in Swap's platform to enhance inventory management and operational efficiency.

Inventory Management

The platform's AI-driven inventory management helps clients forecast trends and demand effectively.

Cross-Border Tax Filing

AI assists in automating cross-border tax filing and return processing for e-commerce brands.

Companies Mentioned in this Article

ICONIQ Growth

ICONIQ Growth led the funding round for Swap, emphasizing the potential of AI in logistics.

Global-E

Global-E competes with Swap by providing tools for international sales, including tax calculations.

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