The Innovation Fund Denmark (Danish: Innovationsfonden) is now backing the ItsMyCargo venture with the aim to bring growth to the maritime and logistics sector.
IFD is an independent body of the Danish government that has started a variety of initiatives to boost companies of all sizes. One of these initiatives is InnoBooster, which focuses on investing in high-potential businesses and projects that bring growth, welfare and employment to society.
Prospects are assessed based on the level of innovation that they bring to the market, the competencies of the team driving the innovation, and whether the potential to create a big, sustainable impact is there.
The ItsMyCargo vision is to help bring the logis- tics industry online. With thousands of logistics providers in the market each with thousands of customers, that calls for a system where mass scalability is planned for from the beginning.
ItsMyCargo has developed Shop Systems to the logistics industry for 18 months now, and has not had any issues with scalability or server factoring. But with the market showing exponentially growing interest in ways to digitise their service and offer logistics online, we need to be prepared for global coverage and mass adoption already now.
InnoBooster is backing ItsMyCargo with financing to reach that goal within the near future without jeopardizing our current growth rate. By summer this year, we will have increased our service capacity by 125 times. This will allow us to service up to 25.000 individual Shop Systems at once with millions of users without restraining running and load time.
Aside from system manufacturing and scalability, we have allocated a considerable percent of our funds to R&D. This will result in complimentary services that run in synergy with our Shop Systems, and will ensure that we always bring innovation to the market before our clients have to ask for it.
To lift the veil on some of the projects that we are working on, we can already now say that it involves an ItsMyCargo App with a multi-functional interface for both logistics providers and shippers.
The logistics industry is slowly showing its presence in the online world, and we are ready to facilitate the shift to digital processes!