DB Schenker recently announced that they have put up a sizable investment of USD $25 million into the global internet marketplace uShip for freight forwarding and transport services. DB Schenker says they are pressing ahead with the digital transformation of their business model.
“Expanding our successful partnership will expedite and streamline transport management and help us, as a market leader in European land transport, to handle even larger volumes of freight,” said Jochen Thewes, CEO of Schenker AG. “We also intend to quickly develop and tap new opportunities to grow outside of our traditional business models. This is our largest equity interest in a digital company to date and it shows how serious we are about innovation at DB Schenker. We’re investing in shaping the future of digital logistics.”
“Unprecedented investment in logistics technology is revolutionizing freight transportation,” said Mike Williams, CEO of uShip. “Major players like DB Schenker are wisely embracing innovation to automate and digitize their operations, making them more efficient and profitable. The past year has shown uShip and DB Schenker are a great fit when it comes to taking the lead in this macro transformation, and we’re thrilled to deepen our partnership through its strategic investment.” The minority interest also earns DB Schenker a seat on uShip’s Board of Directors as an owner.
DB Schenker says they will use the platform for land transport through an online platform called Drive4Schenker, which will use uShip technology to connect the some 30,000 transport partners in the European land transport network to their freight. The new service launched in Germany this month and will gradually be expanded to other countries.