Top 10 Supply Chain Startups Using Blockchain that are Popular in 2024
Calibraint
Author
November 27, 2024
Last updated: November 28, 2024
Table of Contents
The global supply chain industry has faced immense challenges over the past few years—from disruptions caused by the COVID-19 pandemic to the growing complexities of international trade. However, with every challenge comes an opportunity, and startups around the world are stepping up to revolutionize how supply chains operate.
In 2024, the focus is on leveraging advanced technologies like artificial intelligence, robotics, IoT, blockchain in supply chain management to improve efficiency, reduce business costs, and create more sustainable operations. In this blog, we’ll explore the top 10 supply chain startups using blockchain in 2024 and how they’re making waves in this fast-growing sector.
Why Supply Chain Startups Are Thriving
Before diving into the list, let’s understand why supply chain startups are attracting so much attention in 2024:
Companies need smarter tools to handle disruptions, such as geopolitical tensions or natural disasters to reduce operating costs and run their business efficiently.
Businesses are seeking eco-friendly solutions to reduce their carbon footprints and also to promote their business to various markets.
Innovations in AI, blockchain, and IoT are enabling startups to offer cutting-edge solutions for the stakeholders in the supply chain operations.
Faster deliveries, transparent tracking, and cost-effectiveness are now non-negotiable, so meeting customer expectations or exceeding them has become a nightmare for startups in this industry.
Why Blockchain in Supply Chain?
Before we dive into the list, let’s briefly examine why blockchain is the perfect fit for supply chain management:
Transparency: Blockchain provides an immutable ledger where every transaction is recorded, ensuring full traceability of goods.
Fraud Prevention: The decentralized nature of blockchain eliminates data tampering, ensuring authenticity.
Streamlined Operations: Smart contracts automate processes like payments, quality checks, and compliance.
Enhanced Collaboration: It fosters trust among stakeholders, from manufacturers to retailers, by providing a single source of truth.
Top 10 Supply Chain Startups to Watch in 2024
1. VeChain
Founded: 2015
Headquarters: Singapore
What They Do:
VeChain is a leading blockchain platform focused on supply chain and logistics. By integrating blockchain with IoT, VeChain ensures complete transparency across the supply chain. Their ToolChain solution allows businesses to track products from production to delivery.
Notable Use Case:
VeChain partnered with Walmart China to track food products, ensuring food safety and authenticity.
Why It’s a Game-Changer:
Their robust ecosystem and partnerships with Fortune 500 companies make VeChain a pioneer in blockchain-powered logistics.
2. OriginTrail
Founded: 2013
Headquarters: Slovenia
What They Do:
OriginTrail has built the Decentralized Knowledge Graph, a platform that enables interoperability between blockchains and supply chain systems. It helps organizations verify product authenticity and ensure compliance with industry standards.
Notable Use Case:
Used by the food and pharmaceutical industries to verify product data and prevent counterfeit goods.
Why It’s a Game-Changer:
Their focus on interoperability and compliance tracking has made them a go-to choice for industries like healthcare and agriculture.
3. Provenance
Founded: 2014
Headquarters: London, UK
What They Do:
Provenance is a blockchain startup dedicated to building trust in product sourcing and sustainability claims. Their platform allows businesses to share verified supply chain information with consumers.
Notable Use Case:
Provenance has worked with brands like Unilever to track and verify ethical sourcing in their supply chains.
Why It’s a Game-Changer:
By pooling shipments, Flock Freight reduces empty miles and emissions, creating a win-win for businesses and the environment.
4. ShipChain
Founded: 2017
Headquarters: Greenville, South Carolina, USA
What They Do:
ShipChain simplifies freight logistics by using blockchain to track shipments end-to-end. Their platform integrates smart contracts to automate payments and enforce contractual agreements.
Notable Use Case:
ShipChain has been used in food supply chains to track perishable goods in real time, ensuring quality and reducing waste.
Why It’s a Game-Changer:
Their focus on freight and real-time tracking positions ShipChain as a key player in optimizing global logistics.
5. Everledger
Founded: 2015
Headquarters: London, UK
What They Do:
Everledger specializes in tracking high-value assets like diamonds, fine art, and luxury goods. By leveraging blockchain, Everledger ensures that these items have a verified and tamper-proof provenance.
Notable Use Case:
Everledger created a blockchain solution to verify the ethical sourcing of diamonds.
Why It’s a Game-Changer:
With increasing demand for ethically sourced luxury goods, Everledger’s niche focus continues to set them apart.
6. Morpheus.Network
Founded: 2017
Headquarters: Toronto, Canada
What They Do:
Morpheus.Network provides blockchain-based supply chain automation. Their platform integrates with existing ERP systems, IoT devices, and other tech to streamline operations.
Notable Use Case:
Used by pharmaceutical companies to automate compliance and track drug shipments.
Why It’s a Game-Changer:
Morpheus.Network’s interoperability with existing systems has made it a practical choice for businesses seeking gradual blockchain adoption.
7. Ambrosus
Founded: 2017
Headquarters: Zug, Switzerland
What They Do:
Ambrosus combines blockchain with IoT sensors to monitor the quality and safety of products throughout the supply chain.
Notable Use Case:
Used in the food industry to track perishables like seafood and dairy, ensuring proper storage and transportation conditions.
Why It’s a Game-Changer:
Ambrosus’s emphasis on product quality assurance gives them a strong foothold in food and pharmaceutical industries.
8. TE-FOOD
Founded: 2016
Headquarters: Ho Chi Minh City, Vietnam
What They Do:
TE-FOOD focuses on farm-to-table traceability in the food industry. Their blockchain platform ensures transparency for consumers and compliance for businesses.
Notable Use Case:
TE-FOOD is used by supermarket chains in Asia to track produce from farms to shelves.
Why It’s a Game-Changer:
With food safety and traceability being a top priority, TE-FOOD’s affordable solutions have gained widespread adoption.
9. TrackX
Founded: 2015
Headquarters: Denver, Colorado, USA
What They Do:
TrackX leverages blockchain and IoT to optimize supply chain logistics, with a focus on asset tracking and inventory management.
Notable Use Case:
Used by logistics companies to manage returnable transport items (RTIs) like pallets and containers.
Why It’s a Game-Changer:
Their expertise in asset management fills a critical gap in logistics efficiency.
10. BlockApps
Founded: 2015
Headquarters: Brooklyn, New York, USA
What They Do:
BlockApps offers Strato, a blockchain-as-a-service platform for building supply chain solutions. Their platform allows businesses to customize blockchain applications for specific use cases.
Notable Use Case:
Used by the agriculture sector to trace crops and verify sustainability claims.
Why It’s a Game-Changer:
BlockApps’ customizable solutions provide flexibility for enterprises seeking tailored blockchain adoption.
Key Trends Driving Innovation in Supply Chain Startups
The success of these startups is fueled by several key trends in the supply chain industry. These trends are currently pushing the supply chain industry to the next level:
Sustainability: A focus on reducing emissions and optimizing resource use.
Blockchain for Transparency: Improved traceability to ensure product authenticity.
On-Demand Solutions: Businesses prefer flexible, scalable services over long-term contracts.
Customer-Centric Operations: Faster, smarter, and more reliable deliveries are a priority.
Conclusion
The supply chain startups using blockchain are at the forefront of technological transformation, and these 10 startups are leading the charge. From improving transparency with blockchain to optimizing last-mile delivery with autonomous vehicles, these companies are redefining what’s possible in logistics and supply chain management.
If you’re a business owner, investor, or supply chain professional, keeping an eye on these startups can provide valuable insights into the future of this dynamic industry.
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