UPS has made an equity investment in a block-chain-based e-commerce platform startup, called Inxeption Corp., via its UPS Strategic Enterprise Fund. While financial details were not released, the investment will be used to develop e-commerce services for B2B sellers and buyers.
Calling the investment partnership “the future of commerce,” Inxeption CEO and co-founder, Farzad Dibachi, said e-commerce 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.”
Founded in 2017 by Dibachi, Mark Moore and Terry Garnett, Inxeption said it has designed what it calls the first blockchain-based platform designed specifically for B2B e-commerce. As it digitizes and integrates product and supply-chain information, Inxeption’s technology helps its customer sell products online, “either for the first time or in a scalable, smarter way,” the company said.
The platform also features real-time analytics, so customers can monitor online sales information, and track the order status and security notifications.
The Inxeption technology “helps unlock new efficiencies for customers using B2B e-commerce platforms,” said Kevin Warren, chief marketing officer of UPS. “UPS creates alliances and partnerships to gain market knowledge and position the company as the shipper of choice in e-commerce.”