Austin, Texas, USA: Venture capital firm 8VC and Lineage Logistics have formalised their alliance to invest in transport and logistics businesses.
The companies have long collaborated investing in start-up organisations such as Project44, Trackonomy, and Baton.
“The strategic alliance builds on their existing partnership by aligning to a vision to accelerate the pace of innovation in the supply chain,” the companies said.
Jake Medwell, 8partner, 8VC, said: ”As Lineage has grown, so has its commitment to use technology and partner with the best technology companies to help eliminate waste in the supply chain and support customer growth, making them one of the most impressive and forward-thinking companies I have come across in my career. We have so much more to build and are exponentially more powerful working together. I am honoured to call them a partner.”
Sudarsan Thattai, chief information officer. Lineage, said “Lineage’s vision is to be the world’s most dynamic temperature-controlled logistics company, so it is natural for us to unite with 8VC, whose mission is to partner with top founders and entrepreneurs to build lasting technology platforms and create long-term economic and societal value.”
”This industry-first partnership aims to redefine enterprise technology in the temperature-controlled logistics sector. We aspire to create new products across automation, digital brokerage, supply chain visibility and planning, as well as industrial hardware/software that drives better customer experience.”
As part of the alliance, Medwell will join Lineage as an advisor, and Thattai will join 8VC as an advisor. These co-advisory roles are intended to deepen their collaboration.
