Supply chain visibility companies have secured additional rounds of funding throughout 2021 to strengthen their customers’ logistics resilience.
On Monday, New York City-based Altana AI reported it got in on the action as well, announcing it received a $15 million Series A investment in May.
The round was led by GV, formerly known as Google Ventures, with participation from Floating Point, Ridgeline Partners and existing investors Amadeus Capital Partners and Schematic Ventures, which were part of the $7 million seed investment in November 2020.
“The big idea behind Altana AI was to build a platform which models the supply chain network itself, enabling customers to integrate into that network, see their multi tier supply chain and benefit from the data intelligence it provides,” co-founder and CEO Evan Smith told FreightWaves.
With Smith and Altana AI co-founders Raphael Tehranian and Peter Swartz pulling from their experience at global trade data company Panjiva, the team worked to take the extensive data pool and help customers apply that toward supply chain risk resiliency.
“We are putting together billions of data records, using natural language processing and machine learning to build this living, breathing map of world supply chain networks that can answer questions about products and the networks that support them,” said Smith.
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