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
Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
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Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
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Blockchain
CoreNest Capital Announces Strategic Investments in SpaceX, CTGT, Open Clinic, Asha Health, CollectWise, Curo, Hybrd, and Study Dojo
OpenAI, xAI, SpaceX, Weave Robotics, Blaze Payments, Domu AI, Phonely AI, Andromeda Surgical, Texture Capital, Artisan AI, Piramidal,Avatar Medical, OpenCall, Fleak AI, Algorized, itsElectric, Dili, CTGT, Open Clinic, Asha Health, CollectWise, Curo, Hybrd, Study Dojo, Sologenic, Coreum, Pulsara
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