Supply Chain Startup Altana Hits Unicorn Status, Raises $200M

Altana AI, a supply chain management startup, locked up a $200 million Series C investment led by the US Innovative Technology Fund that values the company at $1 billion.

Other investors in the new round include March Capital, Generation Investment Management, Salesforce Ventures 1, Friends & Family Capital, and existing investors GV, Activate Capital, Floating Point and Omers Ventures 2.

The New York-based startup’s supply chain management platform gives customers deep insights and visibility into managing their global value chains — from the sourcing of raw materials to production to sale. Such oversight has become necessary as governments and organizations have introduced new trade restrictions, climate, national security and other policies.

Much like most startups that raise big money in the current environment, Altana has an AI play. The company’s platform uses AI to analyze data points through the supply chain to spot anomalies and risks.

“Great power competition, climate change, and the breakdown of globalization are generational challenges that require a new model for managing global business, including a more assertive role for government,” said co-founder and CEO Evan Smith in a release. “The era of unbridled outsourcing is over. Our platform is uniquely suited to facilitate a new paradigm – organized around trusted global value chains.”

Founded in 2018, the company has raised $322 million, per Crunchbase. Before the new round, it last raised a $100 million Series B led by Activate Capital Partners in 2022.

USIT dishes out big

The round continues Thomas Tull’s US Innovative Technology Fund’s big money investing.

Just last week the fund led an $80 million Series B for Santa Clara, California-based Halo Industries, a developer of a laser manufacturing technology platform for the semiconductor industry.

It also has led huge rounds for Celestial AI and Lambda this year.

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Illustration: Dom Guzman