Done deals: June 7, 2023

Nulogy & Export Development Canada (EDC)

Nulogy has received $20 million in a mix of funding from Export Development Canada (EDC) and incremental working capital from a Tier 1 Canadian Bank. The funds will be used for product innovations. Nulogy’s solutions are used by fast moving consumer goods (FMCG) and consumer packaged goods companies and their networks of contract manufacturing and contract packaging suppliers. The funding from EDC was completed in the first quarter of 2023.

Ritchie Bros. & VeriTread

Ritchie Bros. has acquired a controlling stake in VeriTread. VeriTread was founded in 2013. Its products include a marketplace for listing and quoting shipments, an in-house brokerage to handle complex and urgent freight deliveries, detailed equipment specifications and proprietary freight estimator tools, and more. Previously Ritchie Bros. owned 11 percent of VeriTread. With this acquisition, it has increased its stake to 75 percent.

Qatar Airways

Qatar Airways has become the second airline in the world to become IATA CEIV Lithium Battery certified and Qatar Aviation Services is the first ground handling company to be certified globally.  Both Qatar Airways and Qatar Aviation Services played a key role in the design and implementation of IATA’s recent CEIV Lithium Battery program, and continue to be actively involved in its fine-tuning and adaption. Qatar Airways Cargo is replacing its 10,000-plus ULD fleet with Safran Cabin’s newly developed Fire-Resistant Containers (FRC), designed to resist a lithium-based fire for up to six hours. To date, it has already replaced 9,000 of its ULDs, surpassing the 70 percent goal it set itself for 2022, and will continue the exchange process in 2023.

FourKites & Spotos

FourKites has partnered with Spotos. German-based Spotos offers a digital freight forwarding platform that gives shippers access to a wide network of carriers across Europe. The partnership can give Spotos’s customers up-to-the-minute predictive estimated times of arrival (ETAs) and real-time status updates for their shipments at any time, anywhere in Europe, whether in transit or at rest. Spotos will also employ FourKites’ carrier visibility platform, NIC-Place.