AI GazebosSupply chain management startup raises $200 million in Series C investment led by US Innovative Technology Fund valuing the company at $1 billion.
Other investors in the latest round include: March of the Capital, Generational investment management, Salesforce Projects 1, Capital Friends and Familyand current investors GV, Activate capital, Floating point comma AND Omers’s Enterprises 2.
The New York startup’s supply chain management platform provides clients with deep insight and visibility into the management of world value chains—from sourcing to manufacturing and sales. Such oversight has grow to be essential as governments and organizations have introduced latest trade restrictions, climate, national security and other policies.
Like most startups raising big money in the current environment, Altana has an AI game. The company’s platform uses AI to research data points across the supply chain to identify anomalies and risks.
“Great power competition, climate change and the breakdown of globalization are generational challenges that require a new model of global business governance, including a more assertive role for government,” said co-founder and CEO Evan Smith In release“The era of limitless outsourcing is over. Our platform is uniquely suited to facilitate a new paradigm – one organized around trusted global value chains.”
Founded in 2018, the company has raised $322 million, based on CrunchbaseBefore the latest round, the last Series B funding round, which raised $100 million, was raised in 2022 led by Activate Capital Partners.
USIT hands out big portions
The round is in progress Thomas TullBig money invested by US Innovative Technology Fund.
Just last week, the fund led an $80 million Series B round of funding for the Santa Clara, Calif.-based company. Hello Industrycreators of a laser production technology platform for the semiconductor industry.
He also led huge rounds Heavenly AI AND lambda This yr.