Authenticiti, a blockchain-enabled supply chain platform, announces that it has secured additional funding from leading technology investors. The round was led by Gravity Ranch, with the participation of Holt Ventures, SRI International and the existing investor Scopus Ventures.
Authenticiti Platform is a single source of verifiable truth for supply chain management, linking data from siloed systems in real time. As supply chains are struggling to adapt during uncertainty, companies need to optimize existing fragmented supply chain infrastructures.
“With applications deployed for specific needs, most supply chain infrastructures today are a maze of data, tools and processes,” said Andrew Yang, CEO and co-founder of Authenticiti. “The complex environment is riddled with manual steps and spreadsheets. We provide a solution to effectively connect and manage next generation supply chains “That’s right.
In contrast to most legacy supply chain solutions, Authenticiti is an overlay that works without replacing existing infrastructures. The advantage of this approach is that users gain visibility and control, regardless of their ERP backend, logistics or accounting system. With blockchain, manufacturers gain a real-time record of trusted transactions and can run operations with greater accuracy and risk management. “There is a need for a seamless overlay that connects supply chain vendors and legacy systems in a codeless, easy way to build trust without tearing down existing systems. And that’s exactly what the Authenticiti team has built,” said Eran Gilad, Managing Partner of Scopus Ventures.
Authenticiti platform is packed in a lightweight container, allowing rapid deployment to any IT environment. It also leverages key splitting encryption combined with blockchain infrastructure for highly secure and federated data sharing.
“Today, there are enormous amounts of redundancy and cross-checking in supply chains. Authenticiti’s platform comes at a time when there is a chance to reset supply chain systems that have relied on outdated processes,” said Meg Paulus, Partner at HOLT Ventures, the venture capital arm of HOLT CAT, the largest Caterpillar heavy equipment and engine dealer in the USA. Michael Downing, Founding Partner at the Gravity Ranch Venture Fund, explains, “We have invested in Authenticiti because the blockchain-enabled supply chain will securely automate and streamline key operations, as it efficiently synchronizes data to save millions on operating costs, and this is in line with our investment model that fuels change. “That’s right.
Founded in 2016, Authenticiti has helped companies across a wide range of industries, such as aerospace, manufacturing, mining and insurance, with operational advances and millions of savings annually. The company is headquartered in San Francisco and has an engineering office in Toronto, Canada. https:://Authenticiti Io/Oh
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