AI-powered supply-chain visibility platform Altana has raised $100 million in a Series B round led by Activate Capital and joined by Temasek-backed Reefknot Investments, OMERS Ventures, Prologis Ventures and Four More Capital, according to its announcement on Thursday.
The round also saw participation from repeat investors GV (formerly Google Ventures), Amadeus Capital, Floating Point and Ridgeline.
With this, the total funds raised by the company now stand at around $123 million, based on news reports.
Founded by Evan Smith, Raphael Tehranian, Peter Swartz and Alan Bersin in December 2018, Altana looks at connecting and mapping the world’s public and non-public data to provide a dynamic model of the supply chain while ensuring the sovereignty, security and privacy of the underlying data. It also works with clients to accelerate and automate compliant trade to build safe, sustainable and resilient supply-chain networks.
Among Altana’s offerings is a feature that identifies senders and receivers on shipments, classifies the goods inside boxes and shipping containers, and provides a shipment rating for customs compliance and security purposes. It also answers general questions about the products, shipments, companies and networks involved.
Maersk, the US Customers and Border Protection, BMW, Merck and Boston Scientific are some of its clients.
The funds amassed from its latest round will be channeled towards product development and developing an aggressive platform that can be used by governments, logistics providers and businesses globally.
Altana will also utilise the funds to grow its presence in APAC, particularly by setting up an office in Singapore early next year.
Lead investor Activate Capital focuses on areas such as sustainability, energy and mobility, and the companies in its portfolio include Homee, a claims processing platform for modern insurance companies, as well as logisitics-as-a-service provider KlearNow.
Reefknot Investments, on the other hand, looks at high-growth technology companies in the supply-chain and logistics space. Companies it has backed through its first $50-million fund include delivery platform Pickupp and logistics operator Roambee.