Smart IoT tracking startup Tag-N-Trac, an EvoNexus portfolio company, launches with $10M in new funding

Dell Technologies led the Series A round, with Merck Global Innovation Fund and Aerosafe Global also participating. Including the new funding, Tag-n-Trac has raised $11.8 million to date, according to data from Crunchbase.

Founded in 2020, Tag-n-Trac was founded with the goal of modernizing the entire logistics lifecycle. The company offers a full-stack IoT solution that integrates multiple modes of hardware, software and data technology to build smarter solutions that solve complex problems. The founding team consists of senior executives with engineering leadership experience in WiFi, Bluetooth, sensors and positioning technologies.

Tag-n-Trac says its platform offers complete, real-time visibility into the entire global supply chain ecosystem. The company’s technology combines low-cost “printable” hardware sensors and a sensor-agnostic software-as-a-service platform to help shippers, logistics providers and manufacturers track goods’ location, status and condition from manufacturing to shipping to delivery.

The Tag-n-Trac platform, powered by wireless Bluetooth and cellular smart label technologies, grants a complete end-to-end view to help efficiently address production obstacles such as temperature excursions, tamper detection and potential diversions. Usable in various verticals, Tag-n-Trac works with supply chain partners, including multi-modal third-party logistics, enterprise resource planning, business intelligence software providers, and packaging and labeling manufacturers.

Tag-n-Trac customers are said to gain real-time visibility down to the product level for a more comprehensive view into behaviors, trend insights and potential blind spots.

Video: Tag-n-Trac

“Today’s supply chain ecosystem is fraught with inefficiencies and manufacturing challenges; organizations are already struggling to navigate these complexities without the added worry whether products are safely transported from the factory to end-users,” Venu Gutlapalli, chief executive officer of Tag-n-Trac, said in a statement. “Our proprietary smart label platform enables customers with intelligent demand forecasting, real-time alerting and the ability to meet regulatory requirements.”

 

Source: https://siliconangle.com/2022/01/25/smart-iot-tracking-startup-tag-n-trac-launches-10m-new-funding/