DLA Piper has advised Xeneta on the deal.
Xeneta, a leading Norway-based ocean and air freight rate benchmarking platform and container shipping index, completed an USD28.5 million Series C financing round at over a USD130 million valuation.
The funding was led by New York-based Lugard Road Capital, Xeneta’s first U.S. investor, with additional contributions from existing investors Creandum and Investinor. Lugard Road will join Xeneta’s earlier investors London-based Smedvig Capital, Point Nine Capital and Alliance Venture, bringing the total raised by Xeneta to USD49 million. Pareto Securities facilitated the new equity issuance.
The funding will be used to scale operations across the company, develop Xeneta’s commercial and technical partner channels, expand into new regions and build out its in-house data analyst team to provide greater market insights into the ocean and air freight industry to help guide the rebound of global supply chains.
The DLA Piper Oslo-based team was led by Corporate partner Magnus Brox (Picture) and associate Trym Bjørndal.
Law Firms: DLA Piper;