Following a Series C investment round on July 29, 2024, New York-based start-up Altana raised $200 million, placing its valuation at $1 billion and cementing its unicorn status. Pioneering supply chain management solutions through AI and machine learning, Altana attracted funding from top-tier venture capitalist firm Sequoia Capital, among others.
The funding round success exceeded initial expectations, thanks to a notable variety of investors, including previous backers Andreessen Horowitz and Benchmark as well as parties who chose to remain anonymous. The investees backed not just with their wallets but also by providing industry connections, strategic advice, and offering operational experience. This backing further solidifies confidence in Altana’s mission and future growth prospects.
Utilising artificial intelligence, Altana’s platform offers critical oversight into global value chains, covering every phase from raw material procurement to final product sales.
Altana’s journey to unicorn status
Amid increasing trade restrictions, changing climate policies, and evolving global mandates, the platform provides detailed analysis and insights necessary for businesses to navigate the complex international business landscape effectively.
The start-up’s co-founder and CEO emphasise the need for modern businesses and governments to adapt to emerging complexities such as rising influence competition, climate variation, and the nature of globalisation. He strongly advocates for Altana’s platform, which is built to manage robust global value chains, as a tool for businesses to navigate through these transformations.
Since being established in 2018, Altana has raised a total of $322 million, including $100 million from a Series B funding round led by Activate Capital Partners in 2022. These figures prove Altana’s capability in securing funding and confidence from established investors who see the potential in its innovative solutions.
A recent contribution of $80 million by the US Innovative Technology Fund to a Santa Clara-based company highlights its ongoing support of firms showing immense technological innovation potential. This fund significantly contributes to the ongoing advancement and growth of the technology sector in the US.
Tanvir Bhangoo, VP Technology at TBSCG, regards Altana’s success as a testament to the increasing necessity and potential of technological innovation in supply chain management. Bhangoo acknowledges Altana’s significant impact in advancing the sector and believes that innovative technology is rapidly becoming a crucial element in the evolution of supply chain management.
