In 2005, CIT celebrated 20 years of creating technology-based companies and strategies for innovation. From its original mission to enhance the research and technology transfer activities of Virginia universities, CIT has moved its focus toward the new technologies, entrepreneurs and technology companies that make innovation happen.  Today, CITâ€™s operating structure consists of service lines that enable it to respond quickly and efficiently to new opportunities with government and private sector clients. The service lines â€“ CIT Entrepreneur, CIT R&D, CIT Broadband and CIT Connect â€“ establish a clear identity that allows us to meet their goals and close innovation gaps.

Center for Innovative Technology

IrishAngels is an early-stage venture firm focused on funding the most promising startups across the US. We invest in pre-seed and seed stage startups and leverage our active network to add value to the companies we fund. All investors have a link to the University of Notre Dame but we do not exclusively fund founders with Notre Dame connections. We invest in B2B SaaS, consumer, and medical companies.

IrishAngels

Middleburg Capital Development is a private equity investment firm that specializes in investing in start-up to growth manufacturing enterprises. They partner with entrepreneurs, growing businesses, private banking groups, university incubation centers, funds, and other private equity groups. The firm is involved with new technologies, data and information sectors, the service sectors, core manufacturing, and natural resources.   Middleburg Capital Development prefers to invest in companies based in the United States, operating in the new technologies, data, information, core manufacturing, and natural resources sectors. It also offers equity, debt financing and leasing solutions to help businesses enhance their enterprise value.

Middleburg Capital Development

Kiddar Capital is an alternative asset management firm based in the Washington, DC metro area. Launched in 2007 by American businessman Todd Hitt, the firm manages a variety of investments across established and emerging asset classes including private equity, real estate, infrastructure, venture, credit, energy, and hospitality.

Kiddar Capital

Argonautic Ventures is a group of micro-funds with varying investment theses and a group of general partners. Its innovative and flexible structure allows them to deploy into a portfolio of companies across industry and stages. Its venture funds identify targeted returns based on specific investment theses that their team is well-positioned to act upon. It focuses on a handful of emerging and mature industries where secular shifts are creating new business models that can scale quickly.  Its investment team has experience investing in several sectors related to technology, healthcare, and emerging markets.

Argonautic Ventures

Virginia Venture Partners is a family of seed-stage investment funds placing near-equity and equity investments in Virginia-based technology, life science, and cleantech companies. Virginia Venture Partners invests in companies with a high potential for achieving rapid growth and generating significant economic returns for entrepreneurs, co-investors, and the Commonwealth of Virginia. CIT’s family of funds includes: GAP Fund I is a vintage 2004 fund fully invested in a broad array of seed-stage technology companies. Portfolio. GAP BioLife Fund is a seed fund investing exclusively in life science companies. GAP Tech Fund is a seed fund investing in IT and technology companies.

Virginia Venture Partners

New Dominion Angels they invest in early stage startups, investing with entrepreneurs, in series seed or series A investors.

New Dominion Angels

J. Hunt Holdings is an investment holding company that provides funds for early stage ventures. It is specialized in both domestic and international projects and investments. The company invests between $100,000 and $1,100,000 in five key industry categories, including investment services, portfolio management, accounting, and financial solutions. Mainly focused on the technology and telecommunications sectors, it also invests in the video and sensing, data center management, social media, data security, and other sectors. J. Hunt Holdings is headquartered in Washington, District of Columbia.

J. Hunt Holdings

Mentors Fund invests in and mentors capital efficient startups.

Mentors Fund

Lanza Tech Ventures is a venture capital firm specializing in investments in early-stage companies. It was founded in 2001 and is based in Palo Alto, California.

Lanza Tech Ventures

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

Pallet Alliance delivers pallet program management including sourcing, design, implementation, cost control & ongoing supply.

Pallet Alliance

Based in the Chicago area, SmoothBrain is a Venture Capital/P.E. firm dedicated to providing funding and strategic consulting to startups in emerging tech. Newly founded in the summer of 2022 by Nick Mirchef and Chris Pflanz, SmoothBrain has funded 7 companies thus far.

SmoothBrain

CargoSense

CargoSense provides data driven logistics to the healthcare industry utilizing a disruptive business model.  The company provides a solution that serves as the ''black box'' for logistics shipments for highly sensitive goods such as pharmaceuticals, food and machinery.  The company combines a data and analytics SaaS (Software as a Service), iOS-based Apps and the latest Bluetooth sensors delivered as a managed service to its customers.   The company uses data and analytics to give insight into everything customer's shipments experience. This goes beyond temperature monitoring and excursions to total visibility of how transportation providers are treating goods.   Customers gain compliance with government regulation, lower shipping costs and a reduction in product loss.

CargoSense is a technology company specializing in supply chain automation and optimization. It provides a “Visibility OS” platform that enables customers to leverage visibility data to automate and optimize their supply chain operations. The platform integrates various data sources, management systems, and industrial internet of Things (IIoT) platforms, allowing customers to streamline workflows, monitor shipments, and ensure regulatory compliance.

Empowering efficiency, visibility and collaboration throughout supply networks

Supply Chain Tech

CargoSense Raises $8 Million to Enhance Supply Chain Automation

CargoSense is a technology company specializing in supply chain automation and optimization. It provides a “Visibility OS” platform that enables customers to leverage visibility data to automate and optimize their supply chain operations. The platform integrates various data sources, management systems, and industrial internet of Things (IIoT) platforms, allowing customers to streamline workflows, monitor shipments, and ensure regulatory compliance.CargoSense's technology utilizes advanced sensors, machine learning, and AI to offer comprehensive real-time data on the handling and condition of shipped goods. Its platform also integrates digital twins and digital agents, enabling high-fidelity supply chain modeling, automating and optimizing supply chain processes, and providing real-time problem resolution capabilities. This empowers businesses to monitor, measure, and manage logistics operations more effectively, ensuring supply chain integrity and efficiency. The company's solutions are particularly valuable for complex industries, such as pharmaceuticals, where they help maintain regulatory compliance, optimize logistics, and enhance overall supply chain performance.&nbsp;Key customers and partnershipsCargoSense serves a diverse range of industries including healthcare, pharmaceuticals, and food and beverage. Its customers include companies like Google and DHL, who use the company's solutions for global data center shipments and pharmaceutical shipments, respectively. Additionally, Merck, a leading pharmaceutical company, collaborated with CargoSense to automate the analysis of its parcel program, enabling real-time detection of delivery issues and optimizing distribution and packaging decisions at the individual parcel level. This partnership led to a strategic investment from the Merck Global Health Innovation Fund in June 2024.The company has formed several partnerships including 1) Lanza techVentures portfolio to explore tighter integrations between CargoSense's Visibility OS platform and device firmware, 2) Toshiba to develop a next-generation data logger, and 3) a major airline to develop a real-time monitoring solution for pet shipments.

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. In September 2024, it also <a href="https://sp-edge.com/updates/33426">opened</a> a new office in Bengaluru, India, which will support its global expansion and serve as one of the company's Centers of Excellence.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.&nbsp;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.&nbsp;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, Exiger&nbsp;<a href="https://sp-edge.com/updates/32429">acquired</a> XSB 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&nbsp;<a href="https://sp-edge.com/updates/31249">July 2024</a>, Exiger also acquired Versed AI to enhance AI-driven supply chain visibility. Also, in the same month the company&nbsp;<a href="https://sp-edge.com/updates/32093">acquired</a> aDolus Technology Inc. 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.&nbsp;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.&nbsp;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

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 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.
 
 
 
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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

<div>
 CargoSense, a company that specializes in logistics oversight and supply chain optimization, has successfully raised 8 million USD in a Series A funding round. The round was principally led by Lanza techVentures and included contributions from Merck Global Health Innovation Fund, SmoothBrain, The Pallet Alliance, and several private investors.
 The newly acquired funds will be used by the company to broaden its partner ecosystem. They plan to integrate management systems and different data sources, as well as industrial IoT platforms. This expansion is expected to assist the company's global customers in simplifying and automating their supply chain operations.
 The core product of CargoSense, the Visibility OS, employs advanced sensor technologies, AI, and machine learning to provide extensive, real-time data on the condition and handling of goods being shipped. By making use of this platform, businesses get the ability to manage, monitor, and measure their logistics operations more effectively. This ensures that their supply chains maintain their integrity and efficiency, particularly crucial for complex industries such as healthcare, food, and medical devices.
</div>

CargoSense

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