Altana AI, a start-up working with governments, global enterprises, and supply chain solutions providers to de-risk global supply chains, announced today a seed investment of $7m. The funding round was led by Amadeus Capital Partners, a London-based venture capital firm with a long track record of backing artificial intelligence, risk management and national security technology companies. Schematic Ventures, AlleyCorp, and the Working Capital – The Supply Chain Investment Fund also participated in the funding.
Anne Glover, CEO and Co-Founder of Amadeus Capital Partners, who will join Altana’s advisory board, said: “Altana is well-positioned at the intersection of major trends that are reshaping politics, national security missions, and the orchestration of global commerce. Altana has gained impressive traction helping governments and enterprises to gain cross-border visibility by creating a single, unified view of supply chain risks across multi-tier supply chain networks.”
Altana AI was founded by leaders in supply chain data science, with founding advisory board members including Alan Bersin (former Commissioner of US Customs and Border Protection), Khoo Boon Hui (former President of Interpol), and other eminent leaders in supply chain risk management, law enforcement, and logistics.
Alan Bersin, Executive Chairman of Altana said: “During and since my time in public service. I have long advocated for the sharing of intelligence within and among governments as well as between governments and the private sector, in order to coordinate activity against common threats and to facilitate the lawful flows of global commerce. Illicit trade flows currently amount to an estimated $6 trillion per year, and are growing. The COVID-19 pandemic has made evident the opacity and fragility of the global supply chain. In short, the world is in need of a new paradigm for managing our system of global commerce. Through Altana’s breakthrough privacy- and sovereignty-preserving machine learning platform, it is now possible to illuminate transnational networks and risk-manage global flows as never before, and thereby promote lawful, inclusive, and resilient global commerce.”