On June 10th 2022, SAP.iO Foundry Shanghai “Intelligent Manufacturing” cohort startup SunwayLand completed a financing round of 200 million yuan, led by Hangzhou Golden Investment, followed by Cornerstone Fund, SDIC, etc. This financing will be mainly used for product R&D iteration and market expansion, and seize opportunities for digital transformation and localization alternatives.
At SAP.iO, we work with innovative people and new technologies that positively impact our world every day, and we think it’s time to share their stories with you! In our series, “Inspiring Innovators,” we get to hear how founders, CEOs, and presidents of cutting-edge startup technologies overcame, thrived, and pursued their goals. SAP.iO’s Alexa Gorman sat down to discuss the road to success and lessons learned with some of our most inspiring startup founders.
Meet Paula Paw
Just four days after submitting her last exam paper, Paula Paw was offered a job at VersaFleet. Paula joined VersaFleet as a pioneering team member and played a central role in its growth journey. Graduating from the National University of Singapore with a Bachelor of Arts and Social Sciences, she started her career at VersaFleet in Sales and Marketing. Over the course of 6 years, she was promoted to Senior Sales Executive, Regional Sales Manager, Head of Sales Strategy & Operations Planning, and now leads the company as Co-Chief Executive Officer.
VersaFleet is a transport management software that optimizes route plans and fully digitalizes supply chains, all the way to the last mile. At VersaFleet, Paula now focuses on accelerating VersaFleet’s growth and synchronizing essential company functions, from sales & marketing, product design, and engineering, to finance and people operations. The company’s mission is to provide technology for all transporters — in any industry, market, or country. They built VersaFleet in hopes that the technology would enable the unsung heroes of logistics to get home in time for dinner.
“The goal for the coming years is to establish a stronger market presence so that we can serve the brands that face difficult challenges. When we help them, it will have a trickle-down effect, and the drivers will ultimately benefit; we are hoping to create a better work-life balance.”
Shippeo, a global leader in real-time multimodal transportation visibility, today announced it has been positioned by Gartner, Inc. in the “Challengers” quadrant of the Gartner® Magic Quadrant for Real-time Transportation Visibility Platforms1. Shippeo is positioned furthest and highest on Ability to Execute and Completeness of Vision in the Challengers quadrant. The ‘ability to execute’ decision criteria take into consideration companies’ products and services, sales execution and pricing, customer experience and operations, as well as overall viability, market responsiveness and marketing execution. ‘Completeness of vision’ focuses on marketing understanding and strategy, sales strategy, product and vertical strategy, innovation, geographic strategy, and business model.
Verusen, the global supply chain intelligence innovator, today announced it has received three awards recognizing its leadership, accelerated growth, and positive impact on the supply chain industry.
Verusen was recognized as an Atlanta Business Chronicle’s Pacesetter, one of the city’s fastest-growing private companies. The company was ranked #16 overall and #2 in the Manufacturing / Supply Chain category. To qualify for the Atlanta Business Chronicle’s Pacesetter list, companies headquartered in greater Atlanta had to have over $1 million in 2021 revenue and over 50% 2-year growth in sales.
Verusen was honored for the third year in a row as a Technology Association of Georgia (TAG) Top 40 Innovative Technology Companies in Georgia for its contribution to innovation and economic growth within the state of Georgia’s technology sector.
Paul Noble, Verusen Founder and CEO, was named a Deeds, not Words Leadership Award nominee at the 2022 Supply Chain & Procurement Awards. This distinction goes to individuals who exemplify vision, inspiration, coordination, perseverance, and empathy.
“From our inception, our purpose has been to revolutionize the supply chain industry. It’s an honor to be recognized as we continue to scale and reinvent how business gets done,” said Paul Noble, Founder and CEO of Verusen. Every day, we continue to prove our value with our innovative AI platform, diverse and inclusive workplace culture, and approach to sustainability.”
Verusen leverages deep learning, artificial intelligence (AI), data harmonization, and decision support to help global brands control risk, attain supply chain resiliency, and improve economies for their operations. Verusen raised $25 million in Series B funding earlier this year after the company raised $8 million in its Series A round in the previous year.
TRIGO Group has acquired the industrial start-up SCORTEX – forming an alliance of a Deep Tech operation specialising in Artificial Intelligence with the world leader in quality consulting and inspection services within the transportation and industrial sectors.
TRIGO Group, the world’s leading provider of inspection, consulting and quality engineering services to the transportation industry, owned by the Ardian investment fund, announced today the acquisition of the French start-up SCORTEX that specialises in Artificial Intelligence – or AI – applied to automated quality control. This transaction is in line with the Group’s strategy and allows TRIGO to further strengthen its position as industrial innovationists. TRIGO will invest five million Euros in SCORTEX in 2022 and will double the workforce of its new entity.
An innovative coffee pilot project with selected specialty coffees between ofi (olam food ingredients) and Melitta Europa GmbH & Co KG – Coffee Division – is combining the capabilities of blockchain with other digital tools to meet growing consumer demand for coffee that not only stands out for its aroma and taste but is also traceable – from farm to roaster.
“Consumers are increasingly interested in where their ingredients come from, but traceability is notoriously challenging in coffee supply chains because of their fragmented nature. The beans are sourced from smallholder farmers scattered across remote areas and often change hands multiple times before reaching the roaster,” said Florian Schmidt, general manager, coffee, at ofi.
“This is why we’re innovating with our customers to deepen our digital presence on the ground to improve traceability. This benefits both farmers and coffee lovers, who are becoming increasingly quality-oriented and experience-driven,” Schmidt continues.
At farm level, ofi sources high-quality lots via its proprietary smartphone app from smallholder farmers located in the south-central region of Guatemala. It allows farmers to negotiate and transact with ofi directly. Each transaction is tagged with the farm location and date and provides the source data for Melitta’s SAP material traceability tool, using blockchain technology.
While Artificial Intelligence (AI) in the supply chain marketplace is expected to reach $16.7B globally by 2027, human augmentation remains a critical component to success. This is why global supply chain innovator Verusen, and public benefit corporation for persons with autism and neurodiversity Daivergent, today unveiled their formal partnership to create innovative career opportunities in data and AI for neurodiverse workers.
As part of this partnership, Verusen is tapping a number of Daivergent’s candidates as data experts to assist with machine learning processes and further its mission of revolutionizing the way supply chains work. Employees trained by Daivergent tackle the seemingly impossible challenges of further developing AI and machine learning, specifically as they correlate to solving supply chain issues. Daivergent annotators provide significant value to Verusen by sharing annotations and training data for new and exploratory AI tasks, which improve outcomes.
Verusen Founder and CEO Paul Noble and Daivergent Co-Founder and CEO Byran Dai met through SAP.iO Foundries, SAP’s startup innovation program. They formed a special connection as both business leaders have family members on the autism spectrum.
“We are excited to announce our partnership with Daivergent and Byran, who leads an exceptional talent pool,” said Paul Noble, founder and CEO, Verusen. “Our partnership underscores the tremendous value this high potential but underutilized talent population provides and dispels the common misconception that AI takes jobs away. Daivergent trained Verusen employees are helping us solve the complex challenges the supply chain industry faces through the sophisticated use of existing data, and it’s a massive task. The result is a win-win partnership that underscores our commitment to ensuring and recognizing the value that diversity, equity, and inclusion bring to our company.”
Saara Inc, an eCommerce technology company that addresses the issue of high product returns for online brands, has announced the closure of a seed funding round led by 021 Capital with additional participation from 9Unicorns and Lets Venture.
According to Crunchbase, South Asian venture capital firm 021 Capital has made 21 investments to date and has helped several startups expand, build a strong team and infrastructure and strengthen the supply chain ecosystem.
“One of the major challenges that the eCommerce industry faces are high returns. We are taking a unique approach using AI-ML that improves the bottom-line of businesses by reducing returns, helps them meet sustainability goals, and reduces their overhead costs. With this capital from our investors, Saara will continue to assist direct-to-consumer brands increase their profitability, introduce more market-disrupting products to build a stronger ecosystem,” said Sachin Garg, Saara CEO and Founder.
Shippeo, a leading provider of global shipment visibility, has achieved a significant advancement in its predictive shipment ETA performance, aided by investments in new AI/ML infrastructure and sophisticated algorithms. As a result, shippers and logistics service providers are seeing improved accuracy and reliability of estimated times of arrival (ETAs) of their shipments, thereby increasing the efficiency and predictability of their supply chains.
he recent challenges caused by major supply chain disruptions have reaffirmed the need for organisations to improve shipment traceability on a global scale. Although it has never been easier to track shipments travelling throughout the world in near real-time thanks to more affordable devices and better connectivity, the type of data that supply chain management values is changing.
Shippeo’s Chief Product Officer, Anand Medepalli, says: “The question supply chain managers are asking themselves is shifting from ‘where is my shipment’ at the macro level to a more granular ‘When will it arrive at the next stop?’ and ‘Are there any risks of a delay?’”. This means that the ability to predict shipment ETAs at a very granular level is increasingly becoming a must-have, critical capability for shippers.
This improved ETA brings a range of benefits to manufacturers. Shippeo customers report that having accurate ETA predictions for shipment arrival times improves team productivity at key delivery sites, while boosting KPI performance, increasing sales and, of course, raising customer satisfaction levels. At the same time, these manufacturers, many of which are operating globally, are decreasing stock-outs or production line halts by as much as 76%, as well as reducing late penalties by 25%, dwell times by 30% and reducing unexpected freight costs.
As with any algorithm, ETA accuracy depends heavily on the quality of data inputted, which is why Shippeo’s core R&D focus is to continually enhance the accuracy and reliability of the data feeding the ETA predictions. In its latest third release, in addition to data quality, the company has revamped its machine learning (ML) infrastructure, as well as the methodologies and models its data scientists and ML engineers use. The result is an impressive 32% improvement in ETA accuracy up to 48 hours before a scheduled delivery.
When a building gets demolished, or refurbished, what happens to its parts? They might get destroyed, or just thrown away to the back of a junkyard, never to be seen again – or, they will get reused. And it’s that last option that Garry Cooper Jr, founder of Rheaply, decided to tackle when he launched his enterprise asset management venture in 2016. Rheaply is a digital platform that serves the circular economy, essentially enabling the rehoming of parts of buildings and equipment just before a structure is torn down, placing them in new, local buildings in construction, in a bid to enhance upcycling, sustainable architecture and local enterprise.
Ohio-born Cooper is now based in Chicago and the idea to found Rheaply was born there, thanks to his keen observation skills and entrepreneurial mind (while now he operates in the construction and architecture world, his background is in science). ‘It was super organic,’ he says. ‘I came to Chicago in 2008, and studied at Northwestern University, trying to find a cure for Parkinson’s Disease. I noticed in our lab we had lots of material that we were not using, from chairs, to plastics, chemicals, and I kept hearing people saying, oh if only I had this or that, and I knew we had whatever they needed somewhere in our closet. So I started a resource sharing platform – it was basically a cart!’
Sentimate, the first-ever free, self-service market research platform developed by Revuze, enables brands of all sizes to perform customer experience research.
Revuze, the provider of AI-powered market research for the world’s biggest brands, has been nominated in two categories at the inaugural edition of the US Customer Experience Awards, which will culminate in an online ceremony on June 30, 2022. The awards for which Revuze is competing as a finalist are Best Innovation in CX and Best Technology.
Revuze’s new solution, Sentimate, is the first-ever free platform that delivers instant access to market research analysis on over 300,000 products. With Sentimate, product companies of all sizes — including small and medium-sized businesses, as well as business individuals — can easily monitor their customers’ experiences, identify emerging trends, and perform many research tasks on any product, including SWOT analysis, competitive analysis, and category analysis.
“We are honored to be nominated at the US Customer Experience Awards for these two important categories,” said Boaz Grinvald, CEO of Revuze. “With the unprecedented boom in eCommerce that our society is experiencing, finding innovative ways to monitor customer experience has become critical. Brands are on the lookout for new ways to keep up with their market dynamics; our solution, Sentimate, fills one of the big gaps of traditional market research.”
“Sentimate is destined to change the game for product companies committed to improving their customer experience, as well as individual analysts searching for insights on consumer products, as it is the first AI-powered tool capable of substituting lengthy and costly research methods, including focus groups,” Grinvald continued.
As businesses strive to become more customer centric, it’s imperative for them to have the ability to perform research tasks on a daily basis in order to make informed, data-driven business decisions. Sentimate achieves this by always being up to date and accessible at any time.
April 06, 2022 — SAP SE (NYSE: SAP) has launched a virtual startup program focused on building a resilient supply chain at the SAP.iO Foundries Munich and Tel Aviv. A jury of experts from SAP and Accenture, alongside SAP partners and SAP customers including Siemens, Porsche Digital selected 12 startups from four supply chain domains to join the program.
The program builds upon SAP and Accenture’s long-standing partnership and shared commitment to using technology to help the world build a more resilient Supply Chain. The startups in this cohort will receive curated mentorship, access to SAP technology and application programming interfaces (APIs), and exposure to SAP and Accenture customers to develop high-impact proofs of concept.
Supply chain operations often represent the greatest area for risk and loss in many companies. By their nature, supply chains are globally dispersed and complex in their functionality. This makes them especially vulnerable to risk. Resilient supply chain technologies reduce risk by allowing visibility into all operations across the network – and empowering businesses to optimize and adapt their processes and logistics in real-time.
To address these challenges in the world’s supply chains, SAP.iO Foundries Munich and Tel Aviv joined forces and introduced the “Resilient Supply Chain” program. The cohort is the largest to date. The startups will work with the Foundries as well as leading companies from various fields on integration and partnership with SAP.
According to Jan Gilg, President and Chief Product Officer SAP S/4HANA, “A resilient supply chain, with risk strategies in place, predicts, responds and recovers from unanticipated events by either returning to its original state or morphing into a state that is even better at profitably meeting customers’ needs. It is about using the right tools to make the right business decisions, even under pressure.”
Over the next 14 weeks, the startups will have access to curated mentorship from SAP executives, exposure to SAP® technology and application programming interfaces (APIs), and opportunities to collaborate with SAP customers around the world. Their work includes creating new partnerships and value propositions that help solve key supply chain challenges.
The following startups are participating in the program:
Business Planning & Resiliency
- Bringoz – Intelligent delivery and distribution management system
- Craft.co – Build a more resilient supply chain through deeper supplier intelligence
- numi solutions GmbH – Enabling integrated and intelligent Supply Chain Decisions
- Tacto – We build sustainable supply chains
- MIXMOVE AS – Pushing the boundaries of performance, efficiency and sustainability in logistics.
- Portcast – Real-time predictive visibility and demand forecasting
Warehousing and fulfillment
- CognitOps Inc. – Automate your warehouse management
- Logidot – Optimize your industrial logistics and production with real-time tracking
- Magazino GmbH – builds and develops intelligent, mobile robots that automate material supply in production logistics.
- Picavi GmbH – Pick-by-Vision for cost reduction in your warehouse
- Verity – Information and insights when and where you need them–powered by self-flying drones
- Milkman Technologies – Last-Mile is the new Retail
SAP.iO delivers new partnerships and products for SAP by accelerating and scaling startup innovation as well as incubating employee ventures. SAP.iO brings together innovators from every region, industry, and line of business to transform how businesses run. Since 2017, SAP.iO has helped 300+ external startups and internal ventures accelerate their growth while enabling thousands of SAP customers to access innovation. For more information, visit http://sap.io/.
Supply chain planning can often seem like a lot of trade-offs. Genlots is a company using Reinforcement Learning to optimise the triangle of cash, (inventory working capital and so on), costs, (prices, delivery, transportation, etc.), and service (customer service, or the service that you give to your production).
Tom Raftery, Global VP & Global IoT Evangelist @ SAP, invited Simon Schenker, Founder, and Co-CEO at Genlots to talk about their solution in supply planning, as well as their partnership with SAP.iO.
Listen to the Podcast Here…
What if you knew the true cost of your clothing? Not just the price of the tag, but the cost to the planet as well? What if you can discover the amount of water, carbon emissions, chemicals, and water saved by each of your purchases? Did you know that one t-shirt takes an average of 700 gallons of water to produce? That’s enough clean water for one person to drink for three years. With the global textile market expected to hit $1.23 trillion by 2025, less than 1% of the material used to make clothing is recycled.
Now there’s a way to discover the sustainability score of each of your purchases via Queen of Raw’s marketplace. Queen of Raw now calculates the water, toxins, carbon emission, and waste saved by upcycling the $288 billion worth of excess textiles (raw materials and finished goods) rather than manufacturing new ones. Presented with sustainability metrics backed with authenticity on the blockchain, consumers can have a more engaging journey.
“Consumers want to see sustainability metrics when making sales decisions, and in fact, 43% Gen-Zers seek out companies with a solid sustainability reputation. With $360B in disposable income, this seems like a significant opportunity for brands and retailers,” Stephanie Benedetto, co-founder, and CEO, Queen of Raw, told CoinGeek.
Queen of Raw, together with MIT Solve, released a no-code mobile e-commerce impact measuring tool on the blockchain. The Fabric Footprint Impact Report meets the increasing consumer demand for greater transparency. It allows buyers, sellers, and consumers to see sustainability metrics quickly and easily where they can make informed choices with the swipe of a smartphone, track progress, and get rewarded for brand engagement. The impact report is also available to brands as a white-labeled offering, with a single sign-in for ease of use.
“The Fabric Footprint Impact Report empowers all participants across the supply chain in real-time and utilizes impact-analysis technology that requires no more than a smartphone to access,” Phil Derasmo, Co-Founder and CTO of Queen of Raw, said. “Removing any guesswork and keeping track of environmental and economic progress while accessing a trusted network, so companies can solve a very real problem in the face of climate change quickly, easily, and cost-effectively with no-code,” because everyone needs to understand the impact of their purchasing decisions.
SAP and Unilever today announced a pilot of the GreenToken by SAP solution to further increase traceability and transparency in Unilever’s global palm oil supply chain.