ChainGO ends 2020 closing an investment round of 950,000 euros.
The round is made up of several investment groups, including the Mondragon Group (the leading business group in the Basque Country made up of autonomous and independent cooperatives) through a fund managed by Clave Capital and Fagor Electrónica. Additionally, along with the investment there is a strategic agreement tha has been established aimed at developing on the mutually beneficial synergies between their products, especially with Ubika (a logistics and transport management software).
The investment group also includes Carex Logistics, Los Riscos de Pedrique, the Cosimet Group and the Marin Holding Group, companies that have accompanied ChainGO since its foundation in 2017.
In addition, ChainGO has obtained public funding through the NEOTEC program promoted by the CDTI (Centro de Desarrollo Technological Industrial).
With all these resources that represent a major boost to the activity of ChainGO, the objective, beyond strengthening its workforce and its presence in the Spanish market, is above all to position itself in other European countries and even in the United States.
“It is an immense pleasure to be able to successfully conclude this round of investment that is so important for the future of ChainGO. Closing a year as intense as 2020 with this fantastic news, is a great joy for all of us who are part of this project, and opens great expectations to continue growing in thecoming years. Having the support of companies with so much experience in the logistics and the freight transport sectors is, without a doubt, the best news since we will not hesitate to ask for their guidance and advice when necessary”. Explains Andrés Garrido, CEO and co-founder of ChainGO Tech.
Since its foundation in 2017 until today, it has carried out projects with very different companies such as: Airbus, focusing on internal logistics between plants; Acciona, to achieve greater security in its construction logistics projects; Cemex or Mahou San Miguel, for more efficient export management between actors in very complex supply chains; or with logistics service providers such as Grupo Alonso and freight forwarders suchas Carex Logistics or JCV Shipping. In addition, in this 2020 it has presented two projects within large consortiums to the Ports 4.0 fund.
ChainGO was born in 2016 as an idea that emerged in the IE Business School (Instituto de Empresa) by the hand of its founders, Andres Garrido (CEO) and Jordan Sorensen (CTO). That same year they were awarded the prize for best startup and were finalists in the IE Venture Day. From there, with the development of the first version of the software during 2017, in 2018 the first pilot tests were carried out, one with Mahou San Miguel and another with Carex Logistics.
Since its inception, ChainGO has three advantages that differentiate them from their competition: the intermodal focus (focused on any type of transport involved in a logistics process), the ability to deploy Smart Contracts on different Blockchain networks (according to customer needs) and the interoperability of the platform with customer systems, so the customer is not forced to stop using their own systems to use the ChainGO Freight platform.
One of the main innovative factors that define ChainGO is the use of Blockchain technology, which adds greater security to both the client and allthe actors involved in the same logistic process. This is due to the fact that all the information uploaded to the platform by each one of them, is registered in a decentralized immutable network, so that no registered data is susceptible to be modified.
As a result of its first steps, ChainGO has passed and has been supported by different acceleration programs such as Lanzadera, the project incubator ledby Juan Roig, the president of Mercadona. As well as by Airbus Bizlab, Telefónica Open Future, BarLab (by Mahou San Miguel), La Salle Technova, Orbita (by CEEI Castellón), Blockchers (promoted by Zabala and Alastria among others) or Innowwide, achieving with this last one the entrance in theUruguayan market through CPA Ferrere as a partner.
On the other hand, ChainGO also has strategic alliances both nationally and internationally, with associations such as Alastria, Bita (Blockchain in Transport Alliance) and Virginia Maritime Association and collaboration agreements as well as with Indra as members of the consortium for the development of the SIMPLE platform.
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