Dtledgers, a blockchain-based supply-chain digitalization startup, has raised $8.5 million in its new funding round led by Tata Group's family office and Centrum, at an over $100 million valuation.
- The fund will be invested in expanding the startup's operations to North America, scaling its engineering and growth teams, and innovating on the platform with Corda, Accenture, SAP, and Microsoft, it claims.
- Samir Neji, Dtledgers' founder says, the world needs a multi-enterprise supply chain business network (MESCBN) which can connect the supply chain across entities, starting from a supplier to a distributor framework, and this is where the startup comes in. Hence the oversubscription of its series.
- Dtledgers is looking to extend the round to $15 million by the end of October, according to demands from investors in the APAC region, it claims.
- Wipro Consumer Goods, an FMCG company, reacting to the raise by Dtledgers comments that it has been with Dtledgers for over two years and has seen the impacts of their MESCBN blockchain platform across its suppliers and distributors. "The platform has helped to streamline our processes, enabled us to build a connected supply chain and increase collaboration with two-way agreements, thus reducing time, efforts, and costs across multi-party transactions", the FMCG company says.
- Dtledgers' platform is also used by Mondelez, Tata Motors, ANZ bank, Shiseido, OCP, Trade Development Bank of Africa, and Stockland among others.