Car Delivery Network, which provides real-time electronic information on outbound vehicle movements, has announced it has secured $1m in funding from private investors to expand its operations as an independently owned and operated business. While the investors are unnamed CDN said they were from outside the automotive industry.
"These funds will be used to further develop our vinVISIBLE service solution to provide OEMs and LSPs with low-cost and cloud-based visibility of their supply chain in real-time," said Greg May, CDN’s president and CEO.
vinVISIBLE expands on the CDN’s existing vinDELIVER ePOD solution allowing OEMs and LSPs to visualise freight and assets across their respective outbound supply chain and networks in real-time. The company said it planned to showcase the vinVISIBLE software at this year’s Finished Vehicle Logistics conference in Newport Beach, California.
Mike Thorby, CDN’s chief technical officer, added: “It is really quite ironic that our lead investor approached CDN after purchasing a brand new luxury vehicle and was told by his dealer that he would have to wait for delivery and nobody could tell him when his car would actually arrive.”