Supply-chain visibility is proving popular with investors, says The Wall Street Journal. New York-based startup Altana Technologies just raised $100 million in a Series B funding round, marking the latest big investment from the venture world into a company that’s aiming to streamline logistics processes.
That puts the business in a burgeoning field that includes big operators like project44 and FourKites.
The financing came amid a challenging venture deal-making environment that has cooled as the public stock market has been hammered this year. After several years of committing increasing amounts of capital into supply-chain tech startups, venture investors have pulled back this year on backing these startups.
Global supply-chain tech startups raised roughly $9 billion in the second quarter, down 39% from a year earlier, according to PitchBook. Altana says it has a deal with A.P. Moller-Maersk to provide the container line and its customers with shipment tracking services.
