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The United States-based multinational package delivery and supply chain management company UPS has invested in the American blockchain startup Inxeption as they will partner to improve supply chain and B2B businesses according to a press release published by the company.
“Inxeption Corporation, the pioneer of blockchain-for-business, today announced that UPS Strategic Enterprise fund has made an equity investment in the company,” the press release said. “The investment will be used to create innovative new e-commerce solutions for B2B sellers and buyers.
The startup works mostly online as it is a blockchain powered industrial e-commerce platform “that places product at the center of your organisation,” as its website says.
In this line, UPS and Inxeption will work together to create new B2B e-commerce solutions. For Inxeption, the new partnership represents the future of commerce.
Farzad Dibachi, CEO and co-founder of Inxeption, said that “business customers need secure platforms that protect their customer data and proprietary information while making it easy for them to interact and even collaborate more effectively with their customers. We are thrilled to partner with UPS, the largest logistics provider in the world.”
Another aim for the partnership is that Inxeption and UPS will work on the transparency of complex corporate systems with the use of distributed technology.
Inxeption, founded in 2017 by Dibachi, Mark Moore and Terry Garnett, is based in South San Francisco. It provides sophisticated platforms that rapidly increase sales, streamlines your business, and extends products to new online channels.
In other news, UPS announced it created 575 new jobs related to a new package delivery operation in Houston, Texas. UPS is one of the members of the Blockchain in Trucking Alliance (BiTA) members that are working for the development of blockchain technology standards and education for the freight industry.