20 DC VELOCITY MARCH 2019 www.dcvelocity.com
newsworthy
UPS invests in blockchain-based B2B e-commerce startup
UPS Inc. has made an equity investment in a blockchain-based e-commerce startup called Inxeption and plans
to work with the firm to create innovative e-commerce
solutions for business-to-business (B2B) sellers and buyers,
the companies said.
Terms of the deal were not disclosed, but Inxeption said
in an e-mail that its investors contribute through strategic
partnerships as opposed to purely venture capital backing.
Atlanta-based transport and logistics powerhouse UPS
made the investment through its UPS Strategic Enterprise
Fund, the company’s private equity strategic investment
arm. The fund operates as a venture capital group that
explores emerging markets and technologies, and invests in
IT (information technology) firms that may enhance UPS’s
evolving business model, the company says.
Past investments by that fund include the same-day
delivery company Deliv, reverse logistics services provider
Optoro, and automated vehicle systems developer Peloton
Technology. Additional funding has gone to firms that provide cold chain packaging solutions, software-as-a-service
(SaaS)-based supply chain software, document and business
process management, radio-frequency identification (RFID)
and semiconductor design, and machine learning analytics.
UPS is now turning its attention to blockchain by striking
the deal with Inxeption, a South San Francisco, Calif.-based
firm founded in 2017, whose e-commerce platform uses
blockchain technology to ensure the security of transac-
tions. By supporting that trusted data exchange and pro-
viding real-time analytics, Inxeption says, its platform can
increase sales, streamline business processes, and extend
products to new online channels.
Most important to UPS, Inxeption says its technology
integrates the product design, manufacturing, and supply
chain management processes. UPS plans to work with
the firm in that area, with the goal of developing and
bringing to market new shipping solutions in B2B e-com-
merce, the companies said. “Inxeption’s technology is
attractive to UPS because it helps unlock new efficiencies
for customers using B2B e-commerce platforms,” Kevin
Warren, chief marketing officer of UPS, said in a release.
“UPS creates alliances and partnerships to gain market
knowledge and position the company as the shipper of
choice in e-commerce.”
The industry’s growing interest in blockchain has already
given rise to initiatives like FreightWaves’ Blockchain
in Transport Alliance (BITA) and the IBM/Maersk
“TradeLens” alliance, a neutral industry platform that uses
blockchain to promote secure information exchange.
In an e-mail about its new funding, Inxeption said its
platform does not compete with those existing organizations, arguing that those alliances provide thought leadership around blockchain standards, while Inxeption has
created a commercially viable application that currently
serves more than 100 customers. In comparison, Maersk
Line and IBM Corp. said in August that 94 logistics organizations had agreed to participate in their TradeLens platform, which was expected to be commercially available by
the end of 2018.
RoboSense, an autonomous driving lidar-percep-
tion solution innovator, has been named a CES 2019
Innovation Awards Honoree for the RoboSense RS-IPLS
Intelligent Perception Lidar system. The CES Innovation
Awards are sponsored by the Consumer Technology
Association, owner and producer of the annual
Consumer Electronics Show (CES). … Transplace, a
provider of transportation management services and
technology solutions, has been named “3PL of the
Year” by Tyson Foods Inc. … Peak-Ryzex Inc., a devel-
oper of end-to-end supply chain, mobile workforce,
and retail solutions, has received a “Platinum Partner”
award from Sprint for exceptional performance as
a mobility solution partner. The company was also
honored with a “Supply Chain Solutions Partner of
the Year” award from Ivanti Supply Chain, formerly
Wavelink. … DHL Express was honored by Fortune
magazine and the consultancy Great Place to Work as
one of the 2018 Best Workplaces for Diversity. … Unex
Manufacturing Inc. was honored with a 2018 “Readers’
Choice Award” from Material Handling Product News
for its SpeedCell high-density storage solution. …
Roadrunner Intermodal Services has been named “2018
New Carrier of the Year” by third-party logistics service
provider C.H. Robinson for consistently delivering flex-
ible and dependable drayage service at Western cargo
hubs. …Kerry Logistics Network Ltd. was honored as
an “Outstanding Global 3PL” at the financial news
platform Quamnet’s Outstanding Enterprise Awards
2018. … Two shipping lines and a marine terminal
operator are leading the clean-air charge at the Port of
Oakland. The port has honored ocean carriers MSC and
Hyundai Merchant Marine for 100-percent deployment
of shore power-ready vessels and recognized Oakland
International Container Terminal for connecting more
than 750 ships to shore power in 2018.
accolades
