NordicNinja VC together with Icebreaker VC (FIN), Trind Ventures (EST), Tekton Ventures (USA), and Jaakkoo-Taara (FIN) has made a series A investment in Logmore, the Finnish data logging pioneer. 150+ quality management teams across food, pharma, and electronics industries use Logmore’s groundbreaking data logging service to monitor and control quality of goods in their supply chains.
Since the launch in March 2019, Logmore has quickly been adapted by 150+ enterprises’ quality management teams with an increasing demand. The fresh capital injection will allow Logmore to scale up operations and meet the strong demand for its services in North America, Asia, and Europe. Logmore had previously raised €1.3 million in funding for developing their innovative subscription-based service.
“It wasn’t long ago since Logmore was just a lone woodchopper’s idea. After launching the service, we’ve been working hard to make critical shipment condition monitoring such as temperature monitoring of food and pharmaceuticals easy, efficient, and reliable. We are very excited to bring transparency and security into the global supply chains,” says Janne Juhala, the co-founder and CEO of Logmore.
Shipment condition monitoring such as temperature monitoring of food and pharmaceuticals is crucial for global logistics. Logmore ensures the quality of goods with a seamless cloud service built around the novel dynamic QR code tags. The tags measure temperature, humidity, light, shocks, and tilt. Each new measurement refreshes the QR code to embed the data into it. The service allows quality management teams to monitor their shipments all the way to the users, which is especially useful for home deliveries. Logmore is used by variety of enterprises from industries including logistics, pharmaceuticals, electronics, and food industries.
“QR technology was invented in Japan and has been used for contactless payment for years. Logmore has taken this technology to the next level to ensure the quality of deliveries,” said Tomosaku Sohara, Managing Partner of NordicNinja VC. “We’re looking forward to supporting the company as they scale up globally.”
Data is retrieved by simply reading the QR code with any smart devices. Data is automatically saved to the Logmore cloud platform which allows managing and monitoring quality of fleets of all sizes. Unlike the competing Bluetooth / USB solutions, Logmore requires no specific technology from recipients and can be used also in airborne supply chains.
“Logmore takes proven technologies including QR code, electronic paper, sensors, and cleverly combines them with a seamless cloud-based data logging service,” said Rainer Sternfeld, Managing Partner of NordicNinja VC.
Logmore plans to use the new funding to expand their operations aggressively worldwide with emphasis on opening new offices and recruiting teams in both North America and Asia, in addition to expanding their team in Finland during 2020. The expansion will enable even better support to the wide variety of quality management teams in need of condition monitoring.
Logmore is a logistics data company providing condition and quality monitoring solutions fit for all supply chains. Logmore QR tag is equipped with accurate built-in sensors and enough internal memory for over 20 000 measurements. The amount of measurements stored in the cloud is unlimited.
ABOUT NORDICNINJA VC
NordicNinja VC is an official auxiliary name of JB Nordic Ventures Oy, which is a Helsinki-based joint venture by JBIC IG Partners and BaltCap. JB Nordic Ventures provides investment advisory to JB Nordic Fund I SCSp.