SUPPLY CHAIN

Altana AI Raises $15M Series A Investment to Build the Single Source of Truth On the Global Supply Chain

Altana AI | September 20, 2021

Altana AI has secured $15 million in Series A funding, led by GV (formerly Google Ventures). Floating Point, Ridgeline Partners, and existing investors Amadeus Capital Partners and Schematic Ventures joined the round, which closed in May 2021.

Trade wars, the rise of e-commerce, covid supply chain shocks, and sustainability concerns are driving fundamental changes to supply chain networks and global trade flows. Altana AI is helping enterprises, governments, and logistics providers navigate these changes by connecting them to a shared source of truth on the global supply chain.

The company's AI platform — the Altana Atlas — connects and learns from billions of data points to create a living, intelligent map of global commerce. Multinational enterprises like Boston Scientific are connecting to the Altana Atlas to map their supply chains beyond their immediate suppliers, build more resilient supplier networks, and manage risk across their global footprint. Government agencies and global logistics providers in the US and abroad are using the Altana Atlas to surface illicit activity and security threats hiding in opaque supply chain networks. To enable compliant trade at the speed of e-commerce, the world's largest logistics providers and customs agencies are using the Altana Atlas to expedite lawful shipments across borders while filtering out illicit shipments.

"The globalization of the last fifty years was a race to the bottom. It was designed to hide a complex, fragile, and dirty supply chain from all of us," said Evan Smith, co-founder, and CEO of Altana. "Globalization 2.0 will bring these networks into the light. Through a single source of truth on the global supply chain, we'll be able to know where our products come from, trust that our shipments will arrive even when disruptions occur, root out bad actors in the seams of global commerce, and include more of society in the benefits of trade and capitalism. We're thrilled and honored to be able to accelerate this vision with the backing of world-class investors."

Altana is pioneering a unique federated machine learning approach that enables shared global intelligence without data sharing, unlocking information that was never before available to power artificial intelligence. Karim Faris, General Partner at GV said, "Altana has cracked the code on creating intelligence from data that cannot be brought together directly because of privacy, sovereignty, and intellectual property concerns. In just two-and-a-half years since its founding, Altana is already working with a number of the world's most important government agencies, logistics providers, and enterprises to transform how they manage global supply chains."

About Altana AI
Altana AI enables trusted commerce by providing the single source of truth on the global supply chain. Our AI platform connects and learns from billions of data points to answer questions about products, shipments, companies, and supply chain networks, helping governments and the private sector build safe, resilient, and sustainable supply chains.

Spotlight

E-Commerce has changed the very face of how businesses sell products and how consumers buy them. Consider the numbers: Retail sales over the internet have more than quadrupled over the last ten years, E-Commerce sales are now more than $260 billion annually


Other News
FREIGHT

Sleek Technologies and Propero Consulting Automate Freight Procurement for Oracle Transportation Management (OTM) Users

Sleek Technologies | June 23, 2022

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SUPPLY CHAIN

Körber unveils supply chain software solution strategy at Elevate Americas 2022

Körber | March 17, 2022

Körber will launch new software solutions and capabilities spanning warehouse management, warehouse control, robotics, voice and simulation to empower businesses worldwide to further digitize and automate warehouses in light of today's immense supply chain pressures. Supply chain has moved from a back-office function to a boardroom imperative," said Richard Stewart, Executive Vice President of North America at Körber Supply Chain Software. The pandemic, labor shortages, cost increases, fuel prices, material shortages, and beyond – these challenges are real and here to stay. Unlike anyone else, Körber brings to market an unmatched depth of digital technologies that conquer these complexities. "Digitization is a strategic priority for more than 80% of supply chain executives, Yet, many businesses struggle to digitize at the pace they need. From handling the rapid expansion of e-commerce to the increasing interconnectivity of the global economy, major technology advances are pivotal. Körber will enhance its already unrivaled portfolio of software solutions to empower businesses to drive even more value for their customers and consumers around the globe." -Sean Elliott, Chief Technology Officer for Körber Supply Chain Software In a rapidly growing industry, businesses need a full portfolio provider with a wide range of technologies to tackle supply chain complexity. Focused on rising consumer expectations, labor challenges and a growing emphasis on sustainability, Körber plans the current solution advances for 2022: The cloud: As part of the Körber One platform strategy, Körber will continue bringing its solutions to the cloud to increase efficiency, reliability, resilience, green practices and cybersecurity. This includes the K.Motion Warehouse Management System (WMS), K.Sight CLASS for warehouse modelling and simulation, and Körber's series of add-ons spanning visibility to data analytics – the K.Motion Essentials. Unified Control System (UCS): Already boasting globally successful voice solutions and the most extensive network of AMR partnerships worldwide, Körber will solidify its leading voice and robotics practice with a unified control system. The UCS will uniquely integrate and control different working models – fixed automation, voice systems, and 3rd party AMR systems – under a single tool. Availability is expected the second half of 2022. K.Sight CLASS for operations: New advances connect data on daily operations from the WMS for real-time planning and design. The result is immediate visibility into operational health and stronger strategic planning. This includes effectively handling disruptions, e-commerce growth and heightening consumer expectations. During the conference, customers spanning all industries, sizes and needs, will present how they are revolutionizing supply chains with Körber. Selective examples include: SanMar discusses its journey modernizing operations with Körber's WMS and voice solutions for a more sustainable supply chain. Lineage Logistics elaborates on how Körber's WMS enabled them to achieve efficient and sustainable operations – all while optimizing its warehouse layout. Big Rock Sports, joined by Körber's partner enVista, shares best practices and experiences implementing Körber's WMS. ISN displays how it improved working conditions and bolstered productivity with a robotics solution from Körber and Locus Robotics. Biagi Bros showcases how it improved agility and resilience while driving innovation with the Oracle Cloud and Körber's WMS. Kenco Group describes its AMR deployment for e-commerce fulfillment, focused on productivity and labor dependency. Nassau Provisions, using Körber's WMS and voice technology, shares how it scaled food distribution operations in light of rapid growth. Ariat speaks to its combination of Körber's WMS and AMR solution from Geek+ to improve customer and employee experiences and enable workforce flexibility. Bimbo Bakery overviews how it is revolutionizing retail execution with a smarter and more efficient frontline through direct-store delivery with K.Motion OmniTech. Further information on Körber's solution roadmap and customer success stories is available at Elevate Americas, held virtually from March 14-16, 2022. Registration is available now and throughout the event, with content available on demand for 90 days. About the Körber Business Area Supply Chain Supply chains are growing more complex by the day. Körber uniquely provides a broad range of proven, end-to-end supply chain solutions fitting any business size, strategy or appetite for growth. Capable of delivering software, automation, voice, robotics, and materials handling – plus the expertise to tie it all together. We are a global partner not just for today, but also as the needs of supply chains continue to evolve. Conquer supply chain complexity – with Körber. The Business Area Supply Chain is part of the global technology group Körber. Find out more on www.koerber-supplychain.com.

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SOFTWARE AND TECHNOLOGY

Aperia Technologies Revs Up Predictive Tire Management with the Release of Halo Connect 2.0

Aperia Technologies | March 09, 2022

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SUPPLY CHAIN

EY launches EY OpsChain Supply Chain Manager, incorporating zero-knowledge proof technology for business operations

EY | May 23, 2022

The EY organization announces the beta availability and use of EY OpsChain Supply Chain Manager on blockchain.ey.com, which is a new solution specifically focused on combining product traceability with inventory management across an extended supply chain. While traceability has long been a widely used application by enterprises on public blockchains, the lack of privacy for transactions has limited the adoption of some of the applications by enterprises. Using Polygon Nightfall's zero-knowledge proof-based privacy technology, which is currently a mainnet beta launch, EY OpsChain Supply Chain Manager can help move and track tokens at scale, with low costs, and the privacy required for enterprise applications such as inventory management. This ultimately allows organizations to create fungible or non-fungible tokens representing assets and inventory, and then transfer those across the extended supply chain network. By using a combination of Polygon Nightfall's zero-knowledge proof-based privacy technology and off-chain information management, assets can now be moved across the network with privacy, so that only selected parties can see the full history of those assets. Unlike most enterprise systems, information such as inventory status and location is now retained, even as raw materials and products move across the supply chain and between organizations. "Managing complex operations across enterprise boundaries is a big step forward. EY OpsChain Supply Chain Manager significantly widens the breadth of use cases available for clients to consider." -James Canterbury, Principal and Blockchain Leader, Ernst and Young LLP. Antoni Martin, Polygon Enterprise Lead for Polygon, says This is exactly the kind of commercial use case we envisioned when we set out to build and deploy the Polygon Nightfall network. Enterprise use cases outside of financial services are still not widely developed. Privacy tools open a whole new world for us. Further information about beta access to the EY OpsChain Supply Chain Manager solution is available at blockchain.ey.com. Users initially receive testnet access upon registration for development purposes, followed by production mainnet access, subject to EY client acceptance protocols. About EY EY exists to build a better working world, helping to create long-term value for clients, people and society and build trust in the capital markets. Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate. Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

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Spotlight

E-Commerce has changed the very face of how businesses sell products and how consumers buy them. Consider the numbers: Retail sales over the internet have more than quadrupled over the last ten years, E-Commerce sales are now more than $260 billion annually

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