said he had known Premonition co-founder and co-CEO Brad Lorge for almost seven years, after they started their companies about the same time.“The last 24 months we realised we needed to change a bit of Shippit’s mission ... and we want to deliver 200 million shipments without waste by 2025.“Our vision of the future has always been about connecting existing logistics infrastructure to create delightful experiences and reduce waste for e-commerce and online shopping.
Mr Lorge said he had co-founded Premonition seven years ago after he found there was no tech-based solution available to help connect community groups and food banks with companies that have excess food in real-time. Mr Lorge said he had always been a fan of Shippit as a business and the more he spoke to Mr On, the more he realised the companies were solving the same problems.
The acquisition comes as Shippit has been out raising funds for a series C capital round. The company had kicked off the raise last year but declined to comment on how far it had progressed.Mr On said it would need to double its volume every year for the next three years to achieve its ambition of powering 200 million waste-free shipments by 2025.