Uncertain Outlook for Shyft

December 7, 2023

The future of moving marketplace and leading video survey provider Shyft remains unclear following the massive workforce reduction undertaken by the company at its office in Belgrade last week.
 
Industry sources have suggested that the primary investors in the company are no longer prepared to fund the Miami-headquartered business and that certain assets may be packaged for sale. This has not been validated and the company has made no public statement. At the time of publishing, it has been reported that their video survey technology is still operational.
 
In September 2022, the Miami-based company closed a US$16 million Series B funding backed by new investors, Munich RE Ventures and OurCrowd, and their existing investors Inovia Capital and Blumberg Capital. At the time, Shyft said that they planned to use the new capital to expand its solutions and value to customers across top global markets for relocation and moving.