Lineage Logistics, the largest –temperature-controlled facility globally, and 8VC, a capital firm focused on tech, recently announced a collaboration that will help steer the transportation and logistics industry to greater heights.
The main aim of the alliance is to fasten the speed for evaluation of the supply chain innovation. With a joint investment in co-developed technology and tech start-ups in supply chains, the alliance will be able to productize some of the most promising intellectual properties of Lineage Logistics.
According to Jake Medwell, who is the founder and partner of 8VC, the growth experienced in Lineage has also increased its commitment to investing in a good technology company. The investment in the best technology company will help Lineage minimize the wastage experienced in the supply chain and help in supporting customer growth. 8VC non hesitant in the alliance is because Jake Medwell believes Lineage Logistics is one of the most forward-thinking companies he has ever come across in his career.
In the merger, Jake Medwell will be joining Lineage Logistics as an advisor, and Lineage’s Sudarsan Thatta, the company’s CIO, will also be joining 8VC in the same position. Through working with Jake Medwell, Sudarsan Thatta believes his company has experienced tremendous change and even had the first-ever data science team that primarily works with technology, which increases the company’s exposure to new exiting technologies.
8VC under Medwell was recently named by PitchBook as the top venture capital investor in supply chain technology and had more than 25 deals secured since 2018.