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Home » A Supply-Chain Tech Startup Nets $100 Million

A Supply-Chain Tech Startup Nets $100 Million

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Photo: iStock.com/metamorworks

October 7, 2022
SupplyChainBrain

Supply-chain visibility is proving popular with investors, says The Wall Street Journal. New York-based startup Altana Technologies just raised $100 million in a Series B funding round, marking the latest big investment from the venture world into a company that’s aiming to streamline logistics processes.

That puts the business in a burgeoning field that includes big operators like project44 and FourKites.

The financing came amid a challenging venture deal-making environment that has cooled as the public stock market has been hammered this year. After several years of committing increasing amounts of capital into supply-chain tech startups, venture investors have pulled back this year on backing these startups. 

Global supply-chain tech startups raised roughly $9 billion in the second quarter, down 39% from a year earlier, according to PitchBook. Altana says it has a deal with A.P. Moller-Maersk to provide the container line and its customers with shipment tracking services.

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