Dell Technologies Capital is the investment arm for Dell Technologies.  We’ve invested in over 100 companies that push the envelope on digital technology for enterprises and consumers.  We are a team of world-class investors who help our companies succeed.  We focus on early-stage investments with passionate founders. Our companies gain unique access to the go-to-market capabilities of Dell Technologies. For more information visit www.delltechcapital.com

Dell Technologies Capital

AeroSafe Global develops and produces aerogels and related materials for temperature-sensitive shipping needs in the United States. Its products are used in various thermal insulation applications to transport biomedical, pharmaceutical, and other temperature-sensitive products. The company provides a reliable, simple, and sustainable temperature sensitive supply chain solutions to the world’s leading biopharma companies. AeroSafe Global delivers cold-chain services for the biopharma industry that results in zero temperature excursions for every client, every product, every time. With proprietary packaging, logistics, and operational services, the company builds customized solutions that ensure the safe delivery of temperature-sensitive biopharmaceuticals.

AeroSafe Global

Merck Global Health Innovation Fund (Merck GHI) is evolving corporate healthcare venture capital globally by utilizing their healthcare ecosystem strategy.  This investment strategy connects innovative companies with complementary technologies to develop integrated healthcare solutions.  Merck GHI has $500M under management and provides growth capital to emerging healthcare technology companies worldwide while leveraging the vast R&D-based, global resources of Merck.  With a vision that data will be the currency in healthcare, GHI invests broadly in digital health.  GHI invests in platform companies with proven technologies or business models where Merck's expertise and perspectives can accelerate revenue growth and enhance value creation.   Since late 2010, Merck GHI has made over 20 investments in Digital Health companies.

Merck Global Health Innovation Fund

TagNTrac

TagNTrac is an IoT platform that provides integrating multimode technologies typically hardware, software, and data to build solutions.

<div>TagNTrac is an IoT platform that provides integrating multimode technologies typically hardware, software, and data to build solutions.</div>

Tag-n-Trac raises $10M Series A to Bring Real-Time Visibility and Tracking to the Global Supply Chain Ecosystem

Tag-N-Trac announces RELATIVITY platform for tracking shipments at SKU level

Making cold chains faster, smarter, and cooler.

Cold Chain Innovation

TagNtrack is a tech company that specializes in advanced asset tracking and management solutions. The company offers a platform called “RELATIVITY,” which integrates with RFID and IoT technologies, providing real-time visibility and traceability of shipments and valuable assets. Apart from location tracking, the solution harnesses the power of smart sensors to provide its users with real-time information about the asset’s physical condition, including temperature/humidity, acceleration, pressure, tampering, and light. It is also capable of delivering business intelligence in the form of dashboards, custom reporting, alerts, rules engine, and advanced analytics to supply chain and asset management operations of organizations.

Empowering efficiency, visibility and collaboration throughout supply networks

Supply Chain Tech

Tag-N-Trac

<div>
 
 TagNTrac is an IoT platform that provides integrating multimode technologies typically hardware, software, and data to build solutions.
 
</div>

Transparent Path is a logistics technology company that provides real-time, end-to-end shipment visibility solutions to reduce costs, risks, and environmental impact in supply chains. The company's platform utilizes advanced technologies including 5G, IoT, AI, and cloud computing to monitor shipments continuously. Transparent Path's system tracks various parameters such as location, temperature, humidity, tilt, shock, acceleration, light exposure, and door openings. This comprehensive monitoring helps ensure product quality and freshness, particularly for perishable goods in industries like food and beverage, pharmaceuticals, biomedical products, sensitive chemicals, and high-value assets.
The company's platform is designed to facilitate collaboration and seamless handoffs throughout the supply chain, tracking changes in custody without requiring additional infrastructure. Transparent Path offers a unique, patent-pending freshness prediction metric called FreshScore, which uses proprietary machine-learning algorithms. The system aims to prevent lost loads, provide evidence for meeting service-level agreements, and help businesses reclaim costs lost to supply chain inefficiencies. Transparent Path's flexible pricing model allows customers to use and reuse trackers as needed, paying only for the trackers they require on a monthly basis.
Key customers and partnerships
Transparent Path has worked with Feeding America, a nationwide network of food banks. Rod Wieber noted that the company's technology has been added to loads shipped across the nation to food banks in the Feeding America network over the past year. The ability to track load location and monitor temperature has provided assurance that food arrives in optimal condition for quick distribution to those in need. Wieber stated that Transparent Path's sensors have exceeded expectations in terms of performance and reliability.

Transparent Path

Modality Solutions, founded in 2011, is a leading biopharmaceutical cold chain engineering firm specializing in the validation, optimization, and regulatory approval of temperature-sensitive therapies. The company focuses on integrating cold chain operations, developing transport validation strategies, and supporting global regulatory applications for biopharmaceutical products. Modality Solutions' core offering is its unique Advantage Transport Simulation Laboratory in Bloomington, Indiana, which operates under an ISO 9001:2015 certified quality system. This lab is the only one of its kind that concurrently tests across five hazards that can impact drugs during transport: temperature, vibration, shock, pressure, and humidity.
The company's services include engineering consulting, systems integration, and simulation laboratory testing from drug discovery through distribution. Modality Solutions employs a team of chemical, biomedical, and mechanical engineers with expertise in cold chain management, package engineering, and regulatory compliance. Their approach combines best practices in process validation, systems qualification, and risk assessment to ensure product quality and patient safety. In 2021, Modality Solutions reported a 64% growth rate and was ranked No. 179 on the Inc. 5000 Regionals: Texas list. The company has also been recognized on Inc. Magazine's national list of fastest-growing private companies for three consecutive years, with a reported revenue growth of 120% between 2015 and 2018.
Key customers and partnerships
Modality Solutions serves a diverse range of clients in the biopharmaceutical industry, including emerging biopharmaceuticals, pharmaceutical manufacturers, cell and gene therapy developers, and companies working on drug-device combination products. Some of their notable clients include Teva, Immunomedics, Atara Bio, CSL Plasma, Abbott Vascular, and Regeneron. The company also works with public health organizations, assisting in the deployment of vaccines and therapeutics. Additionally, Modality Solutions collaborates with regulatory consultants and biopharmaceutical investors to provide cold chain validation services and strengthen due diligence processes for portfolio businesses.

Modality Solutions

Moffett Automation specializes in automated pallet storage solutions, with their flagship product being the Moffett Taxi System. The company's technology focuses on maximizing storage capacity in warehouses, allowing businesses to store more pallets per square meter than other automated storage solutions available globally. Moffett Automation's system is designed to utilize warehouse space efficiently, from floor to roof, enabling companies to scale their storage capabilities. The company combines innovative technology with seven decades of experience in the field to develop their solutions. Their automated storage system aims to streamline various aspects of warehousing operations, potentially leading to increased profits and operational efficiency for their clients.

Moffett Automated Solutions

NewCold is a global leader in advanced food logistics, specializing in automated cold storage and distribution solutions. The company operates state-of-the-art automated warehouses across Europe, Australia, and North America, with a total capacity of over 1.3 million pallet positions as of 2024. NewCold's facilities utilize proprietary software and technology to ensure food safety and quality while being approximately 50% more energy-efficient than traditional cold stores. The company's automated systems enable high-volume storage and retrieval, with some facilities capable of handling over 11,000 pallet movements per day.
NewCold's warehouses feature vertical layouts optimized for pallet storage, with some facilities standing over 14 stories tall. The company's technology includes automated pallet handling systems, unmanned stacker cranes, conveyors, and automated truck unloading systems. NewCold's proprietary warehouse management software and control systems are developed in-house, allowing for seamless integration with customers' ERP systems. The company also offers transportation services, utilizing a fleet of over 200 trucks and 500 trailers as part of its end-to-end supply chain solutions.
In recent years, NewCold has significantly expanded its presence in North America. In October 2023, the company opened a USD 300 million facility in Lebanon, Indiana, which is set to be one of the largest and most advanced cold storage facilities in the world. NewCold also operates facilities in Tacoma, Washington, and Burley, Idaho. The company has announced plans to add 25 more facilities in North America by 2030 to meet growing demand.

NewCold

CryoLogistics offers SnowSHIP technology for shipping perishable goods with precise temperature control from source to destination. The company's solution incorporates embedded IoT connectivity to ensure the safety, security, and traceability of goods throughout the supply chain. SnowSHIP utilizes one of nature's most abundant natural refrigerants, which helps lower a company's carbon footprint and positions users as climate-friendly service providers. This technology aims to provide an innovative approach to temperature-controlled logistics, addressing the needs of businesses dealing with perishable items.

CryoLogistics

Companies providing cold chain storage solutions, such as refrigerated facilities and warehouses for the secure storage of temperature-sensitive goods

Companies offering technologies to track and maintain precise temperature conditions throughout the entire supply chain, such as IoT sensors and temperature monitoring devices

Companies that design and produce packaging solutions to safeguard the integrity of temperature-sensitive products during transport

Companies that facilitate the safe and controlled movement of temperature-sensitive goods from one location to another, employing specialized equipment and logistics

Companies that provide technology-driven solutions to optimize and manage parts or all of the cold chain process

Virtual cold chain models are developed to assess the efficiency and efficacy of cold chain alternatives.

Temperature monitoring solutions include IoT sensors for monitoring products during transportation and storage.

Cold chain innovations provide real-time monitoring into the condition of products during transit.

AI/ML aid cold chain optimization by utilizing modeling capabilities in selecting the best cold chain alternatives.

Blockchain-based cold chain solutions enables supply chain transparency,  food safety, and cold chain compliance.

Certain packaging solutions contribute towards a circular economy by creating insulated packaging using repurposed materials.

Cold chain innovations improve the performance of cold chains and thus reduce waste, thus contributing to sustainability.

TagNtrack is a tech company that specializes in advanced asset tracking and management solutions. The company offers a platform called “RELATIVITY,” which integrates with RFID and IoT technologies, providing real-time visibility and traceability of shipments and valuable assets. Apart from location tracking, the solution harnesses the power of smart sensors to provide its users with real-time information about the asset’s physical condition, including temperature/humidity, acceleration, pressure, tampering, and light. It is also capable of delivering business intelligence in the form of dashboards, custom reporting, alerts, rules engine, and advanced analytics to supply chain and asset management operations of organizations. The company's platform and solutions primarily target multi-model logistics, packaging, and manufacturing industries and are designed to easily integrate with existing ERP, warehouse management systems, transportation management systems, and manufacturing line vision systems. Funding and financials In January 2022, the company raised USD 10 million in Series A funding led by Dell Technologies Capital. The round also saw the participation of Merck Global Innovation Fund and Aerosafe Global Inc. The proceeds were intended to expand the company’s operations and business reach.

Project44 is a technology company that specializes in supply chain visibility and logistics connectivity solutions. The company’s platform “Movement” connects shippers, carriers, and logistics service providers to provide real-time visibility of the location and status of shipments. It also offers insights and connectivity across borders, helping businesses manage complex, multi-country logistics. This enables businesses to track and manage the movement of goods and shipments from the point of origin to the final destination.Since its inception, the company has expanded globally by acquiring visibility providers such as GateHouse Logistics, Ocean Insights, ClearMetal, and Convey. It has also built a carrier network with over 238,000 carriers, as of October 2023. In May 2023, the company reported that its platform tracked more than 1 billion unique shipments annually for over 1,300 brands, which included companies from industries such as manufacturing, automotive, retail, life sciences, and chemical and gas.In April 2023, Project44 launched “Movement GPT,” a generative AI assistant for supply chain. This feature allows users to interact within the Movement platform in natural language to track shipments and identify supply chain risks.In August 2024, project44 <a href="https://sp-edge.com/updates/32957">launched</a> Emissions Monitoring, a new feature within its Movement platform. This tool helps shippers, carriers, and logistics service providers measure and report Scope 3 emissions across all transportation modes to improve sustainability and compliance. Earlier In <a href="https://sp-edge.com/updates/31195">July 2024</a>, it introduced enhanced electronic bill of lading capabilities across LTL industry. Also, in the same month it <a href="https://sp-edge.com/updates/31686">launched</a> expanded capabilities and reach for its Appointment Management product to offer a centralized view of facility appointments, enabling shippers to monitor trailer ETAs against scheduled appointments in real-time and proactively manage exceptions.In 2021, Project44 reported an annual recurring revenue of more than USD 100 million. In November 2022, the company was valued at USD 2.7 billion.Key customers and partnershipsAs of October 2023, the company's customers included leading brands such as Nestlé, Convoy, DHL, Uber Freight, and Bayer.In July 2024, project44 expanded its presence in China by launching its Movement platform in the market, making the advanced user interface available to all users in China. The expansion leveraged a new partnership with Baidu, a China-based multinational tech leader, to enhance visibility for customers operating in China. As part of the partnership, project44's over-the-road (OTR) maps in China will be powered by Baidu, improving the company's ability to provide real-time, transparent information to customers.In May 2023, the company entered into a partnership with asset intelligence company, Nexxiot, to enable the delivery of real-time network insights and IoT-centric conditional and location monitoring. Further, in January 2024, the company partnered with Lenzing Group, a specialty fiber producer, to enhance Lenzing Group's ocean shipment visibility with a focus on carbon emissions monitoring. The collaboration involves the creation of an updated real-time shipment visibility tool that collects carbon emissions data at the shipment and container levels.

Project44

Supertrace offers a web-based platform to enable transparency and traceability across supply chains. The company assigns digital identities for physical commodities—a digital code that can be scanned using iOS or Android phones—and stores them in a blockchain database to make them connected and verifiable. This lets users obtain end-to-end visibility of product movements and enables them to manage fraud, ​​identify inefficiencies, and authenticate products in the supply chain while building trust with connected stakeholders.The platform features both software and hardware components and comes as a “plug-and-play” solution that can easily be integrated with existing ERP solutions and third-party systems. As of October 2023, the company claimed that the platform had the capacity to track over 300 million products per year.Key customers and partnershipsAs of October 2023, the company’s platform was used by over 60 companies across the world.

Supertrace

Exiger provides software and tech-enabled tools to manage supply chains through AI-powered solutions. These solutions focus on providing visibility across supply chains and mitigating risks in strictly regulated industries, critical infrastructure companies, defense contractors, financial institutions, and government agencies. They also aim to monitor regulatory compliance and combat financial crime.The company's product portfolio includes solutions such as Supply Chain Explorer, SDX, ExploreRx, and PAC, which are developed to provide visibility across supply networks. Also, its products, such as DDIQ, Screen IQ, and Insight 3PM, are aimed at facilitating risk-screening processes and managing business relationships. In May 2023, the company acquired Ion Channel, adding a platform to its product portfolio to facilitate supply chain risk management.In September 2023, Exiger launched 1Exiger, its new supply chain platform that integrates and provides access to Exiger's products—DDIQ, Insight 3PM, Ion Channel, SDX, and Supply Chain Explorer. The company planned to scale up the platform over the following decade and developed a long-term roadmap to introduce new capabilities.The company operates in the US, Canada, London, Bucharest, Singapore, and Australia. As of October 2023, the company had more than 800 employees across its global offices.In August 2024, the Exiger <a href="https://sp-edge.com/updates/32429">acquired</a> XSB, a logistics intelligence platform with a database of over 100 million parts and 400 million parts attributes, for an undisclosed sum. Through this acquisition, Exiger aimed to enhance its capabilities in depot maintenance, category management, parts obsolescence, parts alternatives, price defensibility, and supply chain optimization. In <a href="https://sp-edge.com/updates/31249">July 2024</a>, Exiger also acquired Versed AI, a company specializing in product breakdown technology, to enhance AI-driven supply chain visibility. Also, in the same month the company <a href="https://sp-edge.com/updates/32093">acquired</a> aDolus Technology Inc., a software supply chain risk visibility platform, for an undisclosed sum. The acquisition allowed Exiger to integrate aDolus' ability to generate software bills of material (SBOMs) and analyze binary for software provenance. This will extend Exiger's Ion Channel platform for SBOM analysis to binaries without SBOMs, device firmware, operational technology (OT), and IoT, addressing the urgent need for organizations to verify and secure operational technology and software providers in an increased cyber threat environment. In 2021, it was reported that Exiger had achieved in excess of 100% compound annual growth in software license revenue worldwide over the previous four years.Key customers and partnershipsAs of October 2023, Exiger was providing its services to 550 Global customers across the world, including 150 companies featured in the Fortune 500 list and over 50 government agencies.In May 2024, Exiger partnered with Kharon, a leader in risk analytics, to enhance global supply chain security efforts. As part of the collaboration, Exiger’s AI-powered supply chain management platform will be combined with Kharon’s insight into supply chain risk to provide a robust and dynamic risk analysis framework.Earlier in March 2024, Exiger entered a strategic partnership with aDolus Technology Inc., an authority in software intelligence for critical infrastructure. The partnership enables Exiger to incorporate aDolus' software into its supply chain platform. This integration will allow for the analysis of firmware and industrial control software for potential vulnerabilities. This collaboration allows both companies to offer improved visibility and risk assessment capabilities in operational technology to their Federal Government and corporate clients.

Exiger

<div>
 
 Chain.io offers a cloud-based integration platform that connects shippers and freight companies across the global supply chain. The company&rsquo;s pre-built adaptors enable shippers and freight companies to integrate their legacy systems with modern API-based SaaS tools to provide them with visibility across their supply networks to efficiently manage freight.
 
 
 
 
 Beyond mere integration, the platform automates freight operations with pre-configured plugins built to expedite the booking, moving, and delivery of freight. This includes automation focused on PO management, securing freight insurance, sending advanced shipment notices (ASN), and invoice processing as well as improving the overall efficiencies in agent, carrier, and customs operations. The platform also enables advanced insights through the aggregation of data from multiple sources into a centralized database. The platform feeds this information into internal reporting and is populated in external dashboards to provide visibility on key operational metrics and environmental impacts.
 
 
 
 
 Key customers and partnerships
 
 
 
 
 As of October 2023, Chain.io&rsquo;s platform was used by leading brands such as Ex Works, Janel Group, John S Conner, Magnate Worldwide, OIA Global, and Jaguar Freight Services. As of June 2022, the company claimed that 10 of the 15 world&rsquo;s largest freight forwarders were also using its platform.
 
 
 
 
 Funding and financials
 
 
 
 
 In June 2022, the company raised USD 11 million in a Series A funding round co-led by Fontinalis Partners and High Alpha. The funding was aimed at expanding the company&rsquo;s network of native integrations to the industry&rsquo;s supply chain technology platforms and to expand its geographical reach across North America, Europe, and Asia.
 
 
 
</div>

Chain.io

<div>
 
 Overhaul offers a device-agnostic supply chain visibility and risk monitoring solution to monitor and manage in-transit shipments. The company&rsquo;s technology-driven platform provides real-time visibility into the transportation of high-value cargo and critical shipments, ensuring the integrity of the supply chain. In addition, the platform provides insights using AI-powered predictive analytics for risk monitoring, enabling its users to mitigate potential risks, such as theft, damage, or disruptions. The platform also offers solutions to simplify compliance and documentation processes and assist in managing regulatory requirements, inspections, and certifications in the transportation industry.
 
 
 
 
 Overhaul&rsquo;s products and solutions are geared toward global industries such as pharmaceutical and healthcare, technology, logistics, and food and beverage. According to the company, in 2023, it is expected to track more than USD 1 trillion in shipments in transit.
 
 
 
 
 Key customers and partnerships
 
 
 
 
 As of October 2023, the company was offering its products to leading brands such as Microsoft, Dyson, GoPro, Bristol Myers Squibb, and J.B. Hunt.
 
 
 
 
 In April 2023, the company partnered with MCA Connect to offer a comprehensive set of integrated solutions aimed at helping organizations achieve end-to-end supply chain visibility and automate processes.
 
 
 
 
 Funding and financials
 
 
 
 
 In March 2023, the company raised USD 73 million as new growth capital. The funding consisted of USD 38 million in equity and USD 35 million in non-dilutive debt. The round was led by growth equity investor Edison Partners. The proceeds were expected to be used for global expansion, product development initiatives, and to fund the acquisition of security services provider SensiGuard.
 
 
 
</div>

Overhaul

Platforms that provide real-time visibility into the movement, location, condition of products, and environment as they move through the supply chain.

Information sharing and collaborative planning platforms that enable communication, coordination, and collaboration among supply chain partners.

Platforms that facilitate the tracing and verification of products or components throughout the supply chain, from origin to consumer.

Platforms that provide vendor risk intelligence to facilitate vendor due diligence and onboarding, compliance monitoring, contract management, and cybersecurity assessments.

Platforms that help organizations optimize supply chain processes through demand, supply, operations, and scenario planning.

Supply chain tech is frequently depedent on IoT for connecting different links of the supply chain

Supply chain tech contributes towards sustainability through efforts to reduce waste, loss and emissions through improving supply chain operations and accuracy.

Uses blockchain to create transparent, and secure records of transactions and product movements

The platforms facilitate tracing and tracking of products through the supply chain

PROMINENT_CATEGORY

<div>
 
 Tag-n-Trac, a leading company in asset tracking, has recently updated its platform, RELATIVITY, adding new features for global asset tracking and tracing. The features now include tools for warehouse automation, detailed multi-modal tracing, support for split loads, asset health monitoring, and loss detection.
 Introduced in 2023, RELATIVITY offers complete transparency into supply chains with the granularity of SKU-level detail. Tag-n-Trac states that this depth of visibility enables more predictable and resilient supply chain operations, helping businesses to effectively manage their inventories.
 
</div>

Tag-N-Trac

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