Supply chain management startup Altana AI has raised $200 million in Series C funding led by the US Innovative Technology Fund, bringing the company’s valuation to $1 billion.
Other investors in the new round include March Capital, Generation Investment Management, Salesforce Ventures 1, Friends & Family Capital, as well as existing investors GV, Activate Capital, Floating Point and Omers Ventures 2.
The New York-based startup’s supply chain management platform provides clients with deep insight and visibility into managing global value chains, from sourcing raw materials to production and sales. Such oversight has become necessary as governments and organizations implement new trade restrictions, climate, national security and other policies.
Like most heavily funded startups in the current environment, Altana is leveraging AI: its platform uses AI to analyze data points across the supply chain to spot anomalies and risks.
“Great power competition, climate change and the breakdown of globalization are generational challenges that require a new model for managing global business, including a more active role for governments,” co-founder and CEO Evan Smith said in the release. “The days of limitless outsourcing are over. Our platform is perfectly suited to facilitate a new paradigm organized around trusted global value chains.”
The company was founded in 2018 and has raised $322 million to date, according to Crunchbase. Prior to this new round, it had raised $100 million in a Series B led by Activate Capital Partners in 2022.
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The round follows a large investment from Thomas Tull’s US Innovative Technology Fund.
Last week, the fund led an $80 million Series B round of funding for Santa Clara, Calif.-based Halo Industries, a developer of a laser manufacturing technology platform for the semiconductor industry.
The firm also led big funding rounds into Celestial AI and Lambda this year.
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