FourKites raises $1.25 million to track delivery trucks on the job

Jun03, 2015

Some links in the supply chain are broken, or at least hidden. Chicago-based startup FourKites has raised $1.25 million in seed funding to help its customers — shippers, logistics providers and freight brokers — keep track of trucks when they’re out on the job.

“If I’m a manufacturer and I’m sending products to Walmart or Target, they ask, ‘When can I expect this truck?’” said FourKites founder and CEO Mathew Elenjickal. “There’s no way to say exactly when the truck is going to arrive.”

Hyde Park Venture Partners led the round, which included participation by Hyde Park Angels; Harvard Business School Angels; Bluestein & Associates, a Chicago-based family office; and Otter Consulting, a Boca Raton-based family office…

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