Roambee Well-Positioned to Address Ocean Freight Visibility with Strategic Investment from PSA unboXed
SANTA CLARA, Calif., June 3, 2021 /PRNewswire/ -- Roambee, the global real-time supply chain visibility provider, announces a strategic investment from and partnership with PSA unboXed. PSA unboXed is the corporate venture arm of PSA International (PSA), a leading global terminal operator with a portfolio comprised of more than 60 deep sea, rail, and inland terminals, as well as affiliated businesses in distriparks, warehouses, and marine services in 26 countries.
This strategic investment and partnership will allow Roambee and PSA to co-create a verifiable item-level, multimodal Full Container Load (FCL)/Less than Container Load (LCL) visibility solution and ocean milestone standard backed by first-hand sensor and port operations intelligence. The approach is different from purely crowdsourced carrier, Electronic Logging Devices (ELD), and shipping line Automatic Identification System (AIS) visibility aggregation. This verifiable ocean visibility will fuse the physical and digital aspects of ocean cargo from end to end, including first mile, at port, on vessel, and last mile.
Multimodal transport solutions involving ocean shipping are becoming preferred modes of operation due to larger freight volume capacity, cost-effectiveness, and carbon-efficiency. Major touchpoints of ocean shipments and intermodal transfers are concentrated at ports of transit. Similar to the International Air Transport Association (IATA)'s Cargo IQ for air cargo, Roambee, combined with PSA's worldwide port operations intelligence and ocean freight expertise, will be able to co-create a visibility-driven milestone standard for ocean cargo in addition to delivering real-time, item-level location and condition for logistics automation.
Speaking about this strategic investment, Sanjay Sharma, CEO of Roambee, said, "The ocean visibility space's recent consolidations have still left the core aspect of 'verifiable visibility' unaddressed. Overall, carrier data integrations focus on orders and not whether the actual FCL or LCL affirmatively completed a milestone or experienced physical excursions. With PSA's support, Roambee will fulfill this crucial need with its immersive location-aware platform, purpose-built sensor technology, and first-hand knowledge of container movement within port operations."
Elton Fong, Vice President of PSA unboXed, said, "PSA's ambition is to visualize end to end cargo flows to improve our supply chain orchestration capabilities. Roambee's real-time visibility combined with our CALISTA® digital platform will enable verifiable, data-driven orchestration of the physical, regulatory, and financial flows for cargo owners."
Roambee's real-time sensor intelligence combined with PSA's domain expertise in port and cargo flow is powerful. With pre-trained AI & ML-powered models that Roambee acquired through its Arnekt AI acquisition, shippers can access accurate signals to verify a variety of variables about their shipment. These include whether an FCL/LCL made it on a vessel, if the temperature/humidity is congenial, if it was loaded onto the right vessel, if the container is secure, or if it is definitively in a customs clearance queue.
With these accurate supply chain signals, Roambee can enable 70% better ETA predictions, 90%+ cold chain compliance, and orchestrate timely intervention on exceptions in multimodal transport.
About Roambee
Roambee's global supply chain visibility puts 300+ enterprises in control of shipments and assets — indoors, outdoors, and in-transit — with sensor-driven signals, analytics, alerts, and automated response. Roambee is identified as one of the nine global supply chain technology companies in '2021 Gartner Tracking and Monitoring Business Process Context: Magic Quadrant for Real-Time Transportation Visibility Platforms.'
About PSA unboXed
PSA unboXed helps PSA International's businesses find and use innovation and technology from startups in the areas of ports, supply chain and logistics. We facilitate constructive conversations for startups with PSA's businesses and invest in startups alongside VCs. PSA unboXed is a wholly-owned subsidiary of PSA International Pte Ltd*, a leading global port group and trusted partner to cargo stakeholders with flagship operations in Singapore and Antwerp.
*Note to Editors: PSA dropped the name of "Port of Singapore Authority" in 1997 when it became a corporatised entity. The company should be referred to as "PSA International Pte Ltd" or simply "PSA".
Media Contact
Premsai Sainathan
Sr. Director, Global Marketing
[email protected]
+1 (408) 461-5221
SOURCE Roambee
Share this article