Scania's fund put $4.8M on SiB's video AI that catches warehouse errors

SiB Solutions builds AI-driven intelligent video that lets warehouses spot and trace product-handling errors.

Rolling video with AI that zooms in on faulty individual goods can upgrade supply-chain quality control beyond first-generation IoT sensors.

SEK 23M ($2.8M) raised in 2020 from Swedish backers led by Anders Pettersson; SEK 50M ($4.8M) from Scania Growth Capital in December 2022.

Swedish startup SiB Solutions spent five years building intelligent-video quality control for logistics centres like warehouses and fulfilment centres. In December 2022, Scania Growth Capital announced its 'first major' move from its €200 million second hybrid vehicle: a SEK 50 million ($4.8M) equity stake making it SiB's largest minority shareholder. Daniel Riazzoli of East Hill Equity, which manages the fund, had spotted the team's potential about a year earlier.

Riazzoli framed the bet: 'Reducing failures in the logistics chain is a key enabler for more efficient and sustainable transport solutions; picking, packing and loading represents the majority of errors in a typical logistic chain.' SiB's platform captures rolling video of product lines and automatically flags faulty individual goods, cross-checking red flags against order IDs. CEO Stefan Borg said the company had kept establishing itself in the USA, UK and the Netherlands despite the financial climate, and the investment would accelerate global expansion.

The failure point was specific and measurable — picking, packing and loading, which fund manager East Hill Equity called the majority of errors in a typical logistics chain.

Video solved what first-gen IIoT sensors could not: identifying the individual faulty item and the order it belonged to, not just the temperature of a room.

Scania's fund bought conviction cheaply and early: $4.8M for largest-minority-shareholder status in a startup with a five-year track record and three-country traction.

In logistics, the cheapest quality data is video of the actual handling — sensors read conditions, but only footage shows who dropped what, where.

As of December 16, 2022, Scania Growth Capital was SiB's largest minority shareholder — the first major move of its €200M second fund managed by East Hill Equity — and SiB operated in the USA, UK and the Netherlands with plans to accelerate global expansion. Tech.eu counted a 'decent European first mover advantage' against rivals like Poland's Sternkraft, Stuttgart's Tsenso and US computer-vision player DARVIS.