AllRead, a Spanish startup providing artificial vision software to the shipping and logistics industry, closed a €2.5 million funding round to expand its European and Latin American markets. The round was backed by Tech Transfer Agrifood Fund (TTAF), led by venture capital firm Clave Capital, as well as Decelera Ventures, Puertos del Estado 4.0 public fund, CDTI, and several business angels. DWF-Rousaud Costas Duran has been involved in the transaction as legal advisor.
The startup, founded in 2019 by Miguel Silva-Constenla, Adriaan Landman, and Marçal Rossinyol, relies on a team of 26 people. Building on a technology transfer from the Computer Vision Centre (Autonomous University of Barcelona), AllRead developed cutting-edge software to detect and identify assets in supply chains.
Its first funding round in 2020 was led by GoHub Ventures, and included family offices and ESADE BAN business angels. AllRead was also supported by the Government of Catalonia through the ACCIÓ program and the Spanish Ministry of Science and Innovation.
Miguel Silva-Constenla, CEO and co-founder, says: “Our vision is to achieve the world’s highest standard for text, codes, and symbol recognition, to drastically reduce the initial investment that any Port operator requires for the correct traceability of their assets. Software and Artificial Intelligence are built by people, and we will continue to invest heavily in the best available talent to achieve this goal.“.
A revolution of traceability
Applied to the shipping and logistics industry, AllRead’s software connects to any fixed, mobile, or drone camera to detect and identify assets circulating on the platform: freight containers, wagons, security seals, license plates, and dangerous goods… among others.
Adriaan Landman, COO and co-founder, describes the software: “Our software delivers levels of accuracy above industry standards, even in the most adverse conditions: high speed, difficult perspectives, dirt or partial occlusion, and extracts multiple different codes in the same image. Most importantly, AllRead frees its customers from hardware dependency and rigidity, allowing a lightweight, fast and easy installation.