Supply-Chain Tech Startup Noodle.ai Gets New Corporate Investment
Logistics technology startups have gotten the attention, and financial backing, of some major tech sector investors. As has been previously written about here https://www.nucleusscm.com/post/private-equity-investors-targeting-supply-chain-sector.
But just for further confirmation, according to the Wall Street Journal, supply-chain software business Noodle Analytics just raised $25 million from investors including the venture-capital arms of aerospace and industrial conglomerate Honeywell International and business-software company ServiceNow.
The new financing highlights the growing interest corporations have in startups they think can help streamline their operations since the pandemic began disrupting supply chains.
Honeywell says it was attracted by Noodle.ai’s potential to help the 116-year-old company improve how it manages its assets and eliminate waste. San Francisco-based Noodle.ai says its artificial intelligence draws on data to recommend ways to speed up shipments and to navigate supply-chain bottlenecks and operational problems. Venture investment in supply-chain startups has receded this year, with financial backing down some 39% in the second quarter and the deals down 35% from a year ago.