SkyBitz has obtained $18 million in Series B equity funding, led by AIG Highstar Capital, LP and Industrial Technology Ventures, LP to finance the roll-out of its Global Locating System (GLS) tracking and monitoring service,
which provides a technology breakthrough for the transportation and logistics industries.
GLS is a satellite-based tracking and monitoring service for North America, which has initially been launched in the commercial freight and industrial sectors of the transportation industry. This wireless technology surpasses Global Positioning System (GPS) technology, bringing improvements in cost, coverage, power consumption and ease of use, according to SkyBitz.
GLS will be used on truck trailers, rail cars and cargo containers to pinpoint the location of untethered assets, allowing them to be located accurately and efficiently, providing quicker response times to shippers. The result will be gains in fleet efficiency, supply chain visibility, and cargo and asset security.
"SkyBitz is delighted to have investors who thoroughly understand the transportation industry and are focused on the advances that this new technology offers," said Matt Schor, SkyBitz president and founder.
For additional information, visit www.skybitz.com, or call (703) 318-8100.


0 Comments