AllRead MLT seals a financing round worth €700,000

• The spin-off of the Computer Vision Centre of Catalonia and the UAB offers deep learning-based software for tracking assets in logistics chains.
• The company was created a year ago on MWCapital’s The Collider programme

6 October, 2020

Barcelona, 6 October 2020 – AllRead Machine Learning Technologies, a startup that has created deep-learning software for tracking assets in logistics chains, has sealed a 700,000-euro financing round led by Global Omnium, through GoHub Ventures, its corporate venturing vehicle, also used by family offices and business angels from ESADE BAN.

The startup has also received support from the Regional Government of Catalonia, through ACCIÓ, and from the Ministry of Science and Innovation, through the Torres Quevedo programme. The operation involved DWF-Rousaud Costas Duran, as legal advisors, and Ponti Strategic Intellectual Property Services.

Created just over a year ago on the The Collider programme of Mobile World Capital Barcelona, AllRead Machine Learning Technologies seeks to cause technological disruption in localizing, identifying and monitoring assets in logistics and supply chains using its own innovative technology, which is the result of years of research at the Computer Vision Centre of Catalonia.

This involves an Artificial Intelligence-based software solution capable of real-time detection and reading of texts, codes and symbols in any image, regardless of whether they are damaged or even partially obscured. It therefore offers higher than market standard certainty levels, which reduces hardware and initial investment requirements.

The startup has managed to attract major clients such as goods ports (Barcelona, Algeciras, Bilbao), airport cargo (IAG Cargo), logistics (Correos) and public services (Idrica) companies and other corporations such as Telefónica and Comsa. Capital input into AllRead MLT will allow for the hiring of a strong engineering team focused on product development and expanding the European commercial network for its artificial intelligence solutions.

Miguel Silva-Constenla, CEO & co-founder of AllRead MLT: “A new cycle has begun globally in which intelligent, sustainable technologies like that of AllRead MLT will be crucial in improving the operational efficiency of logistics chains, in a strategic sector undergoing complete disruption”.