Singapore, 6th July 2024, Autify Network, a pioneering blockchain startup, has successfully raised $500K in a strategic funding round from MyAsiaVC and other prominent investors. This latest infusion of capital will accelerate the development and deployment of Autify Network's innovative products aimed at solving some of the most pressing issues in global supply chain management.
Autify Network is developing a revolutionary trust protocol that leverages the power of blockchain and artificial intelligence (AI) to increase transparency in the global supply chain. By addressing inefficiencies, counterfeiting, and the lack of transparency that plague supply chain operations, Autify Network aims to eliminate the staggering losses exceeding $5 trillion that companies worldwide incur annually.
Since its inception, Autify Network has demonstrated significant traction and growth. The company has successfully completed over 50 Proof of Concepts (POCs) and onboarded more than 200 B2B companies. With an additional 1000+ B2B companies in the pipeline, Autify Network is well on its way to transforming supply chain operations across various industries, particularly in the fashion and luxury sectors.
Autify Network was founded by Nabarun Chakraborty and boasts a team of seasoned entrepreneurs, blockchain engineers, and operational and marketing experts. The team collectively brings over 15 years of combined experience, having previously worked with industry giants such as Microsoft, Google, IBM, Infosys, and Polygon. This diverse and experienced team is well-equipped to drive the company's vision forward and deliver on its ambitious goals.
The company has previously raised $1.9M in VC and grant funding from Loop Ventures, NEAR Foundation, SIA Foundation, Stellar Community Fund, Filecoin, and others.
Additionally, Autify Network has graduated from several esteemed accelerator programs, including the India Blockchain Accelerator by the Government of Telangana, Stellar Community Fund, CELO Camp, HZN Accelerator by NEAR Protocol, and Hatch Web3 Accelerator by Hedera.
In line with its mission to enhance sustainability and transparency in supply chains, Autify Network is gearing up to launch two groundbreaking products next month. The company is committed to using this capital to accelerate product development, expand its market reach, and continue building a robust ecosystem that benefits businesses of all sizes.
“We are thrilled to have the support of MyAsiaVC and other strategic investors as we continue our journey to revolutionize supply chain management,” said Nabarun Chakraborty, Founder of Autify Network. “This funding will enable us to bring our innovative solutions to market faster and drive significant value for our customers.”
About Autify Network
Autify Network is a blockchain-based startup focused on creating a trust protocol that enhances transparency and efficiency in global supply chains. By leveraging blockchain and AI technologies, Autify Network aims to solve the critical issues of inefficiency, counterfeiting, and lack of transparency that affect businesses worldwide. With a strong team and a growing portfolio of innovative products, Autify Network is poised to lead the way in supply chain transformation.
For more information, please visit Autify Network.
