Logistics Startup souco Raises Funds from Sumitomo Corporation's CVC 'Sumisho Venture Partners'

souco, a logistics startup providing hub solutions for supply chains (Headquarters: Minato-ku, Tokyo; CEO: Kuneto Nakahara), has announced the completion of a Series C extension round of funding through third-party allotment, with Sumisho Venture Partners (CEO: Takahiro Yamaki; Headquarters: Shibuya-ku, Tokyo), the CVC arm of Sumitomo Corporation, as the lead investor.

Leveraging this funding, souco will utilize the extensive business network and expertise developed by the Sumitomo Corporation Group across various global industries to focus on building logistics as essential social infrastructure, with an eye toward the future realization of the 'Physical Internet.'

Background The logistics industry faces structural challenges, including driver shortages, uneven operational distribution, and tightening constraints on long-distance transportation. Since its founding in 2016, souco has gone beyond basic information matching between those wanting to rent warehouses and those offering them, providing logistics hub solutions that address the entire supply chain. The company is actively optimizing transportation bases by expanding its network of small and medium-sized warehouses across Japan and promoting the adoption of hub-and-spoke logistics and mid-distance transport transfers.

Significance of this Funding Sumisho Venture Partners participated in this round, resonating with the social significance and growth potential of souco's business and its mission: 'Supporting optimal allocation of logistics resources through technology.'

Through this funding, the company will advance the following initiatives: 1. Addressing logistics challenges by leveraging the Sumitomo Corporation Group's network and expertise. 2. Further expanding the nationwide logistics warehouse network, focusing on small and medium-sized facilities. 3. Deepening alliances with diverse stakeholders, including shippers, logistics operators, and facility developers. 4. Promoting business co-creation toward establishing logistics as social infrastructure and realizing the 'Physical Internet.'

Comment from Kuneto Nakahara, CEO of souco 'Logistics is now essential social infrastructure that supports industry and daily life. By leveraging the expertise of the Sumitomo Corporation Group, we will implement a new form of logistics into society.'