TransVoyant, a supply chain management software and data-sharing platform, announced it has closed its first strategic growth equity financing co-led by Merck Global Health Innovation Fund (MGHIF) and P74 Ventures, bringing the company’s total funding to more than $30 million.
TransVoyant’s global supply chain platform tracks material, manufacturing, and product behavior — along with temperature and other environmental factors — to maintain product quality, regulatory compliance, and customer trust. Proprietary artificial intelligence and machine learning programs enable the platform to analyze supply chain, manufacturing, market, and risk data to continuously uncover potential issues and root causes, then offer real-time intervention services by suggesting next steps to customers and their trading partners.
“As supply chains expand and become more complex, TransVoyant’s capabilities provide a potential game-changer for biopharmaceutical manufacturers,” said Joe Volpe, Managing Director, Global Health Innovation Fund and General Manager Global Health Innovation PE Fund, LLC.
With its new financing, TransVoyant will scale to reach new customers and expand its platform’s use cases. Current life sciences customers include Merck, McKesson, United Healthcare, Convatec and DSM.
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