Logistics tech Forto valued at $2.1 billion after latest funding round

Forto said on Monday it raised $250 million in a funding led by technology investment firm Disruptive and including SoftBank's 9984.T Vision Fund 2 that nearly doubled the freight forwarding company's valuation to $2.1 billion in eight months.

Berlin-based Forto is riding a surge in demand for providers of logistics technologies as the world grapples with supply chain bottlenecks that will likely worsen with the sanctions on Russia.

Last month, U.S. logistics technology firm Flexport fetched a valuation of $8 billion in a funding round led by venture capital firms Andreessen Horowitz and MSD Partners.

G Squared, Northzone, Unbound and A.P. Moeller Holding also participated in the latest round that brings the total raise to over $600 million, Forto said.

The company offers supply chain solutions like quotation, booking, document management and data analytics to over 2,000 customers.

Larger clients include online furniture retailer Home 24 and German supermarket chain Edeka. Forto has also handled shipments for commodities house Glencore GLEN.L and industrial group ThyssenKrupp TKAG.DE.