Altana AI Lands $7 Million For Supply Chain Visibility

Supply chain intelligence company Altana AI landed a $7 million seed funding in an Amadeus Capital Partners-led round. Other entities that took part in the funding included AlleyCorp, Schematic Ventures and the Working Capital – The Supply Chain Investment Fund, according to an announcement.

“We have built what we believe to be the world’s most comprehensive digital model of the global supply chain, and these funds will help us to expand that lead, covering more of the world, and more risk, as we advance the shared [artificial intelligence (AI)] platform used by governments and the private sector to build better global commerce,” Altana CEO Evan Smith said in the announcement.

Altana AI was started by leaders in the supply chain data science area. Former Interpol President Khoo Boon Hui and Former U.S. Customs and Border Protection Commissioner Alan Bersin, and other “eminent leaders in supply chain risk management, law enforcement, and logistics” are among the founding advisory board, according to the announcement.

The company’s clients receive worldwide supply chain visibility and risk intelligence via a shared AI model known as the Altana Atlas without pooling or moving their sensitive information, according to the announcement.

Currently, Altana works with international customs authorities and large companies that operate in multiple nations.

“Altana has gained impressive traction helping governments and enterprises to gain cross-border visibility by creating a single, unified view of supply chain risks across multi-tier supply chain networks,” Amadeus Capital Partners CEO and Co-Founder Anne Glover said in the announcement.

In separate news, Detected, a business verification platform that was starting amid the pandemic, has finished a seed round with 250,000 pounds (about $334,000), showcasing contributions from a number of prominent backers.

Detected’s offerings will let purchasers and vendors trade “with confidence” via data points to examine the location of the purchaser or the vendor — in addition to their solvency, identity and capability — in an expedient fashion.