Blockchain
Overhaul Secures $17.5 Million Growth Investment Led by Edison Partners
Overhaul, a real-time supply chain integrity technology solution, today announced $17.5 million in growth investment led by leading growth equity investor Edison Partners, with participation from Overhaul’s existing investors, Abbey International Finance Group. Launched in 2016, Overhaul leverages visibility to detect and automatically correct noncompliance within supply chains and has grown to be a trusted provider of integrity solutions for pharmaceutical, high-tech and food industry Fortune 100s moving freight globally.
Overhaul plans to use the investment to achieve its aggressive growth goals in 2020, bolster product offerings to support broad market use, grow its team in North America as well as in its new European headquarters in Ireland, and expand reach into other key global markets. Overhaul tripled in size in 2019 and is set to repeat this growth in 2020. The growth capital from Edison Partners brings Overhaul’s total funding to $27.5 million.
By 2023, at least 50 percent of large global companies will be using AI, advanced analytics and IoT in supply chain operations, according to Gartner. Supply chain leaders are considering year on year cost-cutting measures while examining how emerging technologies such as AI, robotics, and blockchain will potentially have long-term impact to their bottom lines. Deciding where and how to invest can be a challenge, as many business intelligence tools promise ROI that is unattainable without the benefit of a fully visible supply chain network across business-critical teams such as logistics, sales, security, quality and risk management.
Companies that aggressively digitize their supply chains can expect to boost annual EBITDA growth by 3.2 percent—the largest increase from digitizing any business area—and annual revenue growth by 2.3 percent, according to McKinsey & Company. “Every company is looking for a way to use data to increase productivity while decreasing costs and risk; their UPS left turn. Overhaul is continually disrupting the logistics industry by arming our clients with the tools and transparency to cut supply chain risks and inefficiencies, enhance quality and control across their supply chain and improve overall customer satisfaction to stay ahead of the curve. We’re excited to team with Edison Partners to leverage their expertise in accelerating growth, which will enable us to bring supply chain digitization and risk mitigation solutions to companies around the globe,” said Barry Conlon, Overhaul CEO and Founder.
Conlon, a former member of the Irish Defense Forces, Irish Special Operations Unit, Army Ranger Wing, gained unique security operations experience in all aspects of Special Forces Operations during his eleven-year tenure. He moved from Ireland to Texas and became a citizen in 2011. He is the former CEO and President of FreightWatch, which was acquired by United Technologies Corporation in 2012.
“Amazon easily demonstrates how world-class supply chain management is a powerful advantage. Today, true supply chain visibility is non-existent for most global businesses. Overhaul’s device and data-agnostic solution approach generates the actionable oversight and real-time data that global companies need to gain a competitive advantage, along with the ability to mitigate risk and significantly reduce costs,” said Ryan Ziegler, General Partner, Edison Partners, who led the investment and heads the Enterprise Solutions practice. “CEO Barry Conlon has the domain expertise and vision needed to solve complex supply chain problems. As a former member of Ireland’s Tier-1 Special Operations Unit, he demonstrates tremendous grit, entrepreneurial drive, and the leadership skills needed to succeed in this market. We look forward to helping Barry and his team quickly scale as the industry-leading software solution for supply chain visibility.”
SOURCE Overhaul
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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