Polsinelli congratulates its client Tive, Inc., on its $20 Million investment round. Tive provides sensors and cloud-based software that enable businesses to track shipments by trucks, marine vessels and airplanes, to reduce theft and delays while confirming that perishable cargo remains within proper temperature and humidity levels. The business serves about 1,200 customers across industries such as logistics, food, pharmaceuticals, life sciences and electronics.

The financing was led by Lightsmith Group and will help Tive to expand its offerings in the tightly regulated pharmaceutical industry. Tive recently struck an agreement with AstraZeneca that involves using their temperature sensors to monitor the drug developer’s flu-vaccine shipments.    

More information about the financing can be obtained here: announcement.

The Polsinelli Venture Capital and Emerging Growth Companies team involved in the transaction included Prithvi Tanwar, Kathryn Pasinski and Blair Wigney.