UPS’ venture arm invests in blockchain-based e-commerce startup Inxeption
Thu, 17 Jan 2019, 06:05 am UTC
UPS Strategic Enterprise fund, the venture arm of transportation and logistics giant UPS, has made an equity investment in blockchain startup Inxeption.
Founded in 2017, Inxeption is a blockchain-based e-commerce platform, allowing businesses to promote, sell and manage their products and services online. The company said that it will use the investment to create innovative new e-commerce solutions for B2B sellers and buyers.
“Inxeption’s technology is attractive to UPS because it helps unlock new efficiencies for customers using B2B e-commerce platforms,” said Kevin Warren, chief marketing officer of UPS. “UPS creates alliances and partnerships to gain market knowledge and position the company as the shipper of choice in ecommerce.”
Inxeption has designed the first blockchain-based B2B e-commerce platform that catalogs and digitizes product information. Each change to the product is stored to Inxeption's blockchain to present a complete, accurate, and immutable product history.
By integrating product design, manufacturing, and supply chain, it helps merchants to grow their top line revenue and sell products online. The platform also features real-time analytics allowing customers to monitor online sales, and receive real-time order status, and security notifications.
Furthermore, underscoring the importance of shipping solutions in B2B e-commerce, Inxeption said that it will work together with UPS to develop and bring to market new solutions in this area. It also plans to launch additional solutions to meet the needs of specific market segments.
“This partnership represents the future of commerce,” said Farzad Dibachi, CEO and co-founder of Inxeption. “Business customers need secure platforms that protect their customer data and proprietary information, while making it easy for them to interact and even collaborate more effectively with their customers. We are thrilled to partner with UPS, the largest logistics provider in the world.”
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