Cloudleaf raises $26 million in series B funding to improve supply chain operations
Cloudleaf, a California-based provider of digital supply chain software, has raised $26 million (£21.4m) in a series B funding round with the aim of market and customer base expansion.
The funding was led by Intel Capital and WRVI Capital, with participation from BluePointe Ventures, Bold Capital Partners, Mahindra Partners, and Tandem Capital.
Cloudleaf, which serves a range of industries, will use the accumulated amount to boost the rapid expansion of its addressable markets, geographic footprint, and enterprise customer base. The company’s Digital Visibility Platform is a combination of Internet of Things (IoT), artificial intelligence, machine learning and advanced analytics technology that delivers comprehensive, real-time, end-to-end insights into supply chain operations -- from suppliers, through production and distribution, to customers.
The Cloudleaf Digital Visibility Platform, which is able to process billions of events per second, optimises operations and integrated business planning systems with real-time delivery of diagnostic and predictive insights. These insights comprise of location, environmental conditions, utilisation and anomaly detection.
Australian SaaS firm Lumachain recently raised £3 million in a recent funding round spearheaded by CSIRO-linked Main Sequence Ventures. The company uses blockchain to find and track items in the food supply chain that could be unethically sourced products or products of forced labour.
Additionally, Washington-based software firm Balena secured more than £11 million in a series B investment round led by OpenView. The company, which focuses on unlocking the potential of physical computing by removing friction for IoT fleet owners, will use the funds to expand its capabilities and continue building products that enables the connected world accessible to everybody. Its full-stack platform provides a comprehensive, end-to-end solution that makes it easier for developers to build applications for the IoT and the edge.
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