Chain.io Secures $ 5 Million Funding Round


Cloud-based supply chain integration platform Chain.io completed a $ 5 million round of funding, a Press release said.

The round was led by Large companies and Mercury. Also participate Honeywell Ventures and To hire.

The Chain.io network processes over 100 million data transformations per month, with data coming from 10 of the world’s 15 largest freight forwarders. The network has also doubled in size over the past year.

“We will immediately deploy this capital to help expand our world-class supply chain integration network and help our customers develop their digital nervous systems throughout their extended supply chain,” said Brian glick, founder and CEO of Chain.io.

The company had a good year 2020 and the post lists some achievements including tripled revenue base, 50% increase in customer base, new integrations with systems like Cargowise, Blujay, Magaya, Portrix, WebCargo, Terminal 49, etc. says liberation.

Tim streit, co-founder and managing partner of Grand Ventures, said supply chains have proven to be an extremely important part of the world over the past year, both for “our individual lives and the economy. global, ”according to the release notes.

“When we met the Chain.io team, we quickly realized that they had built a network that was going to transform the industry from the inside out,” Streit said.

Kamal Vasagiri Honeywell Ventures said, “The future of the supply chain lies in sharing information quickly and resiliently.”

Supply chains have been strained during the pandemic, in part because some people have spent their increased free time ordering things, including cars and electronics. Inventory may have run out of stock when companies didn’t order much when the coronavirus started. This ends up causing ripple effects along the supply chain and can lead to production breaks as existing inventory is reduced.

Supply chains are therefore struggling as production and orders lag behind demand.

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