Artificial vision tech start-up AllRead closes a €2.5m (US$2.5m) funding round

Funding to expand its solution for supply chain, ports and rail operators in European and American markets

Since its launch in 2019, the computer vision startup entered 10 countries in Europe and America, improving asset traceability in more than 30 seaports and maritime terminal operators.

AllRead, the Spanish startup providing artificial vision software to the shipping and logistics industry, closed a €2.5 million funding round to expand its European and American markets. The round was backed by Tech Transfer Agrifood Fund (TTAF), led by venture capital firm Clave Capital, as well as Decelera Ventures, Puertos del Estado 4.0 public fund, CDTI and several business angels. DWF-Rousaud Costas Duran has been involved in the transaction as legal advisors.

The startup, founded in 2019 by Miguel Silva-Constenla, Adriaan Landman and Marçal Rossinyol, relies on a team of 26 people. Building on a technology transfer from the Computer Vision Centre (Autonomous University of Barcelona), AllRead developed cutting-edge software to detect and identify assets in supply chains.

Its first funding round in 2020 was led by Global Omnium through its corporate venturing fund GoHub Ventures, and counted with family offices and ESADE BAN business angels. AllRead was also supported by the Government of Catalonia through the ACCIÓ program and the Spanish Ministry of Science and Innovation.

According to Miguel Silva-Constenla, CEO and co-founder, "Our vision is to achieve the world's highest standard for text, codes and symbol recognition, to drastically reduce the initial investment that any Port operator requires for the correct traceability of their assets. Software and Artificial Intelligence are built by people, and we will continue to invest heavily in the best available talent to achieve this goal”.

Software to revolutionize traceability in intermodal platforms

Applied to the shipping and logistics industry, the software connects to any fixed, mobile or drone camera to detect and identify assets circulating on the platform: freight containers, wagons, security seals, license plates, dangerous goods... among others.