Eximchain raises $20mn in funding for blockchain powered supply chain platform
Supply chain applications firm Eximchain has raised $20mn for its blockchain platform from investors in a successful funding round.
The company says its “mission” is to become the blockchain infrastructure for supply chain applications, to fill in the gap of over $5.2trn lost in potential revenue each year, due to the lack of transparency, connectivity, and agility in the global supply chain industry.
Eximchain is developing a blockchain that combines privacy, accessibility, and security to support enterprise-ready applications.
Key to its offering is leveraging the power of blockchain, so stakeholders within a supply chain can connect, transact, and share information more efficiently and securely.
The company is going through the airdrop process, which replaces the traditional token generation event. The airdrop program rewards early community members, while at the same time addressing the risk and longevity of the project and leveraging the Eximchain network.
Eximchain’s airdrop will consist of approximately 1.5mn EXC,which can be converted to its native token upon Eximchain mainnet launch, and will be open only to whitelist participants that pass the KYC procedures.
Eximchain’s public blockchain uses private smart contracts so transaction data and trade secrets are encrypted, secure, and kept secret from competitors. A variety of supply chain solutions can be built on Eximchain blockchain:
- Sourcing – Eximchain Smart Contracts securely record historical data and transactions allowing suppliers to prove their reliability to buyers and rating institutions
- Supply Chain Finance – Eximchain Smart Contracts allow financiers to verify the validity of orders placed with all upstream partners and suppliers and provide the necessary financing
- Inventory Management – Eximchain tools enable stakeholders to seamlessly track demand and inventory information across a common ledger
- Eximchain SDK – The Eximchain SDK enables companies to quickly build customized, end-to-end, supply chain applications with data privacy
“After experimenting POCs on Ethereum or private blockchains, the enterprise world is looking for technical solutions that can be deployed immediately to solve real supply chain problems”, said Hope Liu, Co-Founder and CEO of Eximchain.
“There is a huge potential for blockchain technology to revolutionize supply chain processes, and we are all excited to see the progress that Eximchain will help bring to this industry. The successful funding round we have achieved shows the viability and importance of such a project.”
The investors include: FBG Capitial, Hashed, INBlockchain, Alphabit, Signum Capita, Kinetic Capital,GBIC, 1kx and Connect Capital. Eximchain has also developed partnerships through the fundraising process with business owners who are interested in developing real world use cases on the platform and participated as strategic investors to build pilots on Eximchain platform.