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Orlen invests abroad and focuses on start-ups. Orlen has invested in the French logistics platform Shippeo

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The company from Płock has invested in the French logistics platform Shippeo, Rzeczpospolita reports on Friday. PKN Orlen announces the improvement of delivery processes in all areas of its activity. This is what the new investment is about. According to the daily, the innovative technological platform is to be used to manage supply chains, it monitors over 32 million shipments a year in 110 countries. At the same time, the newspaper notes that the market of technological transactions in Poland and Europe is clearly weakening.

As we read in “Rz”, PKN Orlen announces the improvement of delivery processes in all areas of its activity and already has a tool – this is the company’s latest investment.

The start-up is to help Orlen manage supplies

According to newspaper reports, the company bought shares in Shippeo. This innovative technological platform, which is used to manage supply chains, monitors over 32 million shipments annually in 110 countries, writes Rzeczpospolita.

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He adds that the proprietary machine learning algorithm, powered by data from over 850 sources (including telematics systems), tracks shipments and transport, and predicts delivery times. “In Orlen, they emphasize that real-time insight into supply chains and the ability to react quickly to emerging problems will generate significant savings” – we read in the article.

Daniel Obajtek, president of PKN OrlenTVN24

PKN Orlen shopping

The newspaper reports that “the value of the transaction has not been disclosed, but it is known that this fifth direct investment of the Orlen VC fund is the largest one to date (recently, the concern invested, for example, PLN 8.4 million in the start-up Apeiron Synthesis)”.

“This move is important for several reasons. Thanks to it, PKN Orlen will not only optimize its operations, but will also become a shareholder of a French start-up, one of the leaders in the industry, whose solutions are used by such giants as Coca-Cola, Carrefour, Renault Group and oil company Total” – emphasizes “Rz”.

Read more: Fuel prices in Poland “one of the lowest in Europe” vs “the highest in Europe”. Who is right?>>>

The collapse of the start-up market

According to the latest CB Insights data, cited by “Rzeczpospolita”, the global market for financing start-ups has collapsed – in 2022, USD 415.1 billion flowed to them, which is as much as 35 percent. less than a year earlier.

“During that time, the number of IPOs of technology companies decreased by a third, and the number of the largest transactions fell by a record-breaking 50 percent (with the average value of a single VC transaction shrinking by 32 percent). It wasn’t that bad yet. Last year, only 258 unicorns (start-ups valued at over $1 billion) were created worldwide, which is 86 percent less than in 2021.” – emphasizes “Rz”.

Main photo source: PAP/Łukasz Gągulski

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