iCustoms.AI has raised US$2.2m in a seed round to support its AI-powered trade compliance solutions. This funding will propel the company toward groundbreaking innovations to automate and optimise customs and trade procedures.
According to iCustoms, its artificial intelligence platform automates and expedites customs procedures, resulting in time and cost savings of 50%.
“Our goal at iCustoms is to make trading simple for all of us,” said iCustoms AI CEO Adnan Zaheer. “Our AI platform eliminates tedious manual tasks, streamlines customs processes and ensures complete compliance. This funding allows us to expand our tech team, develop new offerings and significantly impact the trade compliance industry.”
The funding has been provided by Fuel Ventures, a leading venture capital firm, along with PlugnPlay, Outrun Ventures, Montblu Capital, SyndicateRoom and leading angels.
“Our experience in the VC space has shown us the immense potential of iCustoms’ innovative AI-driven approach,” said Mark Pearson, founder and managing partner of Fuel Ventures. “We believe this technology will significantly reduce time and resource burdens for businesses involved in international trade. We’re excited to invest in iCustoms and collaborate with their talented team to build something truly remarkable.”
“At SyndicateRoom, we’re thrilled to support iCustoms alongside other visionary investors. Adnan and his team’s dedication, expertise and exceptional capabilities make them a perfect fit for our portfolio. We’re excited to see iCustoms revolutionize the trade compliance industry,” added Tom Britton, founding partner, SyndicateRoom.