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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.
AI is utilized in Swap's platform to enhance inventory management and operational efficiency.
The platform's AI-driven inventory management helps clients forecast trends and demand effectively.
AI assists in automating cross-border tax filing and return processing for e-commerce brands.
ICONIQ Growth led the funding round for Swap, emphasizing the potential of AI in logistics.
Global-E competes with Swap by providing tools for international sales, including tax calculations.
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