At a Glance
Altana AI raises $15M in a Series A funding round led by GV to develop its AI systems and launch machine learning, network analytics tools. Its platform connects with numerous supply chain data points and answers questions about products, shipments, companies and networks, filtering out illicit trade, targeting bad actors and security threats across global commerce networks
Altana AI, a company enabling trusted commerce for the global supply chain, raised $15 million in a Series A funding round led by GV to develop its data and AI systems and launch new machine learning and network analysis tools, reports state.
The previous funding round for Altana came in June this year, where it raised an undisclosed amount. VentureBeat reported that with the close of this round, the total funding raised by the company touches $22 million. Other investors – Floating Point, Ridgeline Partners, Amadeus Capital Partners and Schematic Ventures – participated in the funding round.
Altana AI, founded in 2018, provides a platform that connects with billions of supply chain data points and answers questions about products, shipments, companies and networks, filtering out illicit trade, targeting bad actors and security threats across global commerce networks. Evan Smith, CEO of Altana AI, stated that the company tackled problems by creating a single source of truth for the global supply chain network.
Today, we don’t know where our products come from, we don’t know what is inside the box, and we don’t know our extended supply chain networks. Altana answers these questions through dataEvan Smith, CEO of Altana AI
Evan noted an estimated $4 trillion loss in global revenue due to supply chain disruptions in 2020 from the pandemic.
We have found that C-suites at nearly every major enterprise with a physical supply chain are focused on mapping their multi-tier supply chain footprints. They are detecting and managing risks deeper in their networks and building more resilient supply chains that can withstand these global disruptionsEvan Smith, CEO of Altana AI
VentureBeat reported that Altana works with numerous Fortune 500 global companies, including Boston Scientific and some of the world’s largest logistics providers and government agencies across the US and abroad.