IMD Startup News: Kizy continues to scale its business
Kizy Tracking announces a Series A funding from angel investor Jari Ovaskainen
Kizy Tracking, the fast growing low-cost, low-power tracking solution for global supply chains, announced today a Series A funding led by Jari Ovaskainen, one of Europe’s leading business angels, with additional funds coming from Geneva-based Preon Capital Partners. They join the existing investors from Business Angels Switzerland. The company will use the funds to launch its new generation tracker and platform and accelerate international growth.
Kizy Tracking was a winner in the 2015 IMD Startup Competition, and one of the co-founders travelled to Silicon Valley with the IMD EMBA class, and worked closely with the participants to improve their value proposition and understand the key customer segments they should go after.
Created in 1999, the IMD Startup Competition provides a unique opportunity for startups to benefit from the help and insights from participants in the MBA and the Executive MBA programs at IMD.
Kizy’s trackers and platform are used by tens of international logistics companies, shippers and consulting firms around the world to collect valuable data about the actual state and performance of their global supply chains.
The company, which multiplied its revenues by 3 in 2016, is often cited by experts in the supply chain community as a disrupting solution for international logistics operations. It was awarded the Swiss Logistics Award, was a finalist of the European Logistics Award and won the IoT/M2M Innovation World Cup last year.
Founded in 2014 by experienced professionals in logistics, micro-electronics and telecommunications, Kizy Tracking today employs 10 people out of its offices in Neuchâtel (Switzerland) and Taipei. Ruud Riem-Vis, Kizy Tracking’s CEO said: “With an impressive track record and international network, Jari Ovaskainen and Preon Capital Partners are ideal partners as we continue to scale our business. We’re excited to have investors on board that provide us not only capital, but also strategic experience and deep knowledge of the supply chain industry.”
About Jari Ovaskainen
Jari Ovaskainen is a Finnish business angel. Since 2000, Mr. Ovaskainen has worked and invested in startup companies, mainly in Europe. He is a member in Finnish Business Angels Network (FiBAN), and was elected “the Finnish Business Angel of the Year 2013”. In 2014, Jari Ovaskainen was also awarded with the title of “European Business Angel of the Year”.
Find out more about the IMD startup competition.