Siemens Backs On-Demand Delivery Startup Bringg

Next47 GmbH, the global venture arm of German conglomerate Siemens AG has joined a $25 million investment round in Tel Aviv-based on-demand delivery startup Bringg Delivery Technologies Ltd., the latter announced Tuesday. Siemens joined existing investors including Tel Aviv-based venture capital firm Aleph Venture Capital, O.G. Tech Ventures, Coca-Cola, and Florida-based private equity firm Cambridge Capital LLC. Prior to this funding round, the company has raised $29.5 million, according to Pitchbook data.

Founded in 2013, Bringg develops an Uber-like management software for third-party delivery suppliers and counts Coca-Cola, Kimberly-Clark, and Walmart among its clients. Bringg is active in 50 countries worldwide and employs some 130 people, mostly in Israel, as well as in offices in Chicago, London, Austin, and Sao Paulo.