Blockchain Startup Inxeption Secures Investment From Logistics Giant UPSbr>
Blockchain startup Inxeption has secured an undisclosed equity investment from UPS Strategic Enterprise Fund (SEF), the private equity strategic investment arm of delivery and supply chain firm UPS.
Founded in 2017, Inxeption is an e-commerce platform that provides tools and blockchain technology to insure trusted, secure and reliable transactions. The company claims that its blockchain platform rapidly increases sales, streamlines user’s business, and extends products to new online channels.
Inxeption CEO and co-founder Farzad Dibachi said that they will use the funding to further develop the platform and create e-commerce services for business to business (B2B) sellers and buyers.
“This partnership represents the future of commerce,” said Dibachi. “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.”
As part of the partnership, the two companies will work together to develop and bring to market new solutions in B2B e-commerce space. In addition, Inxeption plans to launch additional solutions to meet the needs of specific market segments.
“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.”
UPS has been exploring various ways of using blockchain as a part of their mainstream business operations. Last year, the company applied for a patent to use blockchain technology to plan package routes and track them globally, as they are handled by multiple carriers.