Blockchain based multi enterprise supply-chain enterprise community (MESCBN) platform, #dltledgers, immediately introduced that it has raised $8.5 million from its lead investor in a Series B funding spherical. This strategic spherical now brings #dltledgers’ valuation to effectively above $ 100 million, up from $ 46 million after its Series A spherical simply over a 12 months in the past.
#dltledgers’ subscription and transaction-based MESCBN platform allows multi-party transactions throughout enterprises. A linked provide chain between entities resolves an enormous drawback for big enterprises, banks, Logistics and financing organisations. The digitalisation of multi-party transactions present authenticity and allows a big a part of sustainability and financing initiatives with suppliers and distributors. It’s business agnostic and may be subscribed and run by any enterprise which has a community of suppliers, distributors, banks and logistics.
“The global appetite for connected supply-chains is growing and with the recent pandemic, its being deployed by most of the fortune 500 enterprises and banks. We are leading these markets globally and have an ambition to play a major role in collaborating and resolving the gaps in extended supply-chain.
It is a tough climate for fund raising as the world market is going through flux, and investors are very selective. It’s a real testament to our platform and its multiplier effect; we got over subscribed for our series. The world certainly needs an MESCBN platform like ours, which can connect supply-chains across entities, starting from a supplier or distributor framework and can deliver authentication, sustainability and financing in its trust mode across logistics banks and all of supply chain partners,” defined Samir Neji, the founding father of #dltledgers.
“We provide a technology that allows enterprises to jump start, connect and collaborate with their supply chain partners dynamically and in real-time, accelerating mission-critical supply chain process by ten folds. Our low code metaverse platform will enable enterprises to build their own network with ease and seamlessly invite their partners to work together and collaborate like never before,” added Samir.
Considering the demand and prolonged curiosity from different traders in the APAC area, #dltledgers determined to increase the spherical to $ 15 million, to shut off by the top of October. There are ongoing conversations for additional closures and can result in an in depth acquisition of strategic traders throughout the spherical. The firm didn’t give additional data and plans on the identical.
“I am extremely bullish about our platform, I saw the global impact it could bring to supply chain finance and sustainability, and our new investment round strengthens our focus in solving real-life supply chain and financing issues. Technology has advanced so much that we felt the need to shift people’s thinking about what those capabilities could be,” stated Farooq Sidiqqi, CEO of #dltledgers, who joined the corporate after a 30-year stint as a banker.
Investments from the Series B funding spherical will assist #dltledgers execute its plans for North American enlargement whereas scaling its engineering groups and development groups additional. This contains additional platform innovation with Corda, Accenture, SAP, Microsoft and several other different partnerships. Further bulletins on its deliberate enlargement and use of funds will probably be made in the upcoming weeks.
“We are a North America focused fund which has invested in more than 50 + companies and were on the lookout for a scalable platform which can build large networks in the MESCBN space and with extended capability to play across the FINTECH space. Our research team found #dltledgers as a unique enterprise blockchain company in supply-chain which can execute to the size and complexity of these markets. Their track record and growth story is phenomenal and we want to be a big part of this. I am thrilled to join the board and lead the company into its next phase,” stated Sheroy Irani, Partner at Lead investor.
Leading FMCG firm Wipro Consumer Goods, a buyer of #dltledgers for the final two years, has strategically benefitted from the corporate’s transformative options and welcomed this announcement.
“We have been with #dltledgers for the last two years and have seen the impact of their MESCBN blockchain platform across our suppliers and distributors. It has helped us streamline processes, build a connected supply chain and increase collaboration with two-way agreements, saving us time, effort and cost across multi party transactions. The pandemic highlighted the issues with the current supply chain gaps, and we saw how #dltldgers is pioneering the effort to take supply chain to the new Web3 world. Happy to see more innovation from these guys,” stated Deepak Chandra, Global CFO, Wipro Consumer items.
Besides Wipro Consumer Goods, #dltledgers’ platform can also be deployed in many giant international enterprises and banks globally; to call a couple of international innovators like Mondelez, Tata Motors, ANZ financial institution, Shiseido, OCP, Trade improvement financial institution of Africa, Stockland.