[ Read time: 3 minutes]

Today’s number is $50 million. This is the amount Everstream has recently raised in their Series B.

Hello and welcome back to news, trends & insights in the industry.

In today’s edition:

• 3 Start-ups (Berkshire Grey. Slync, Everstream)

• 2 Old guards (Kroger, UPS)

• 1 Tech in the supply chain (Baskit)

• 1 Logistics Origins (UPC by George Laurer)

Let’s dive in.

In the Box

Berkshire Grey to acquire by SoftBank Group Corp

SoftBank Group Corp will acquire ‘Company’ - a technology solution company that helps businesses streamline their operations using AI and robotics.

These operations include picking, packing, sorting, fulfillment, logistics, and supply chain.

Under the agreement, SoftBank will acquire the remaining stock that is not currently owned by them for $1.40 per stock in an all-cash transaction.

The amount will be approximately $375 million.

Everstream closes $50m led by Morgan Stanley

Everstream Analytics closes $50 million, a year later after raising $24 million. The fresh funds will be used toward product development, hiring, and customer success efforts.

Everstream provides predictive insights from physical supply chains.

The Series B funding was led by Morgan Stanley’s 1GT Fund. Other participants in the fundraising include:

• StepStone Capital

• Columbia Capital

Some notable competitors that I have covered in the past include

• Overhaul (newsletter)

• IntegrityNext (newsletter)

Slync raised $24 million

Aside from funds misappropriation by the CEO of Sylnc Christopher Kirchner, the supply chain management software raised $24 million in February.

Regardless, Kefer revealed the latest funding was led by Goldman Sachs with the participation of the following:

• Blumberg Capital,

• ACME Ventures,

• Gaingels

Kefer claimed the funding will be used to expand the scope of Slync technology beyond air freight, container processing, and specialty cargo processes.

Technology

Baskit closed $1.5m to power the traditional supply chain in Indonesia

Forge Ventures led the funding with participants like Sketchnote Partners, DS/X Ventures, Prasetia Ventures, and other global angel investors.

With this new funding, Baskit plans to invest in its technology to reduce the inefficiencies in Indonesia’s traditional distribution chains.

“We are confident that with Baskit’s support and platform, we will be able to play a role in revitalizing traditional commerce, and pave the way for healthier supply chains across many verticals.” -Founder, and CEO Yann Schuermans

Old Guards

Kroger

Although the American giant retailer still intends to expand its robotic CFC network, the company recently announced it’s slowing down the robotic automation of customer fulfillment centers CFC) in partnership with Ocado.

The supermarket chain currently runs eight CFCs in the following areas: Monroe, Ohio; Groveland, Florida; Forest Park, Georgia; Pleasant Prairie, Wisconsin; Dallas; Romulus, Michigan; Aurora, Colorado; and Frederick, Maryland.

The Kroger CEO Rodney McMullen in a call said identifying future locations to put up CFCs: “ended up being a little bit more difficult than what we would have expected.”

UPS

The logistic giant plans to open a new sorting facility in Tampa International Airport (TPA) to support its Next Day Air deliveries for Tampa Bay and Florida’s west coast.

With a $79.5 million investment, the 40,000 square feet of cargo will be able to sort over 7,500 packages per hour.

Logistics Origins

UPC invented by George Laurer

The Universal Product Code (UPC) was invented by George Laurer, an electrical engineer who worked for IBM in the late 1960s. The idea for the barcode came from a grocery store executive who approached IBM with the idea of automating the checkout process in stores.

Laurer was tasked with developing a system that would allow a computer to quickly and accurately identify products by reading a code on their packaging. He started by studying the existing barcode systems used in the railroad industry and developed a new system that could handle a wider range of products.

The first UPC code was scanned in 1974 at a Marsh supermarket in Ohio. The product was a pack of Wrigley's Juicy Fruit gum. The barcode was a series of black and white lines that represented a unique code for that product. The scanner used a laser beam to read the code and send the information to the computer system, which would then look up the price and other information about the product.

Laurer continued to work on improving the UPC code system throughout his career and was awarded several patents for his work. He also worked on other barcode systems, including the Universal Product Code version E (UPC-E) and the Code 39 barcode, which is used for industrial applications.

Thank you for reading.

My goal is to break down complex technologies in the logistics and supply chain industry. Hope it is worthwhile.

Over and out,

Okerosi