Bext360 specializes in providing traceability SaaS solutions focusing on critical supply chains such as coffee, cocoa, palm oil, and minerals. The company’s flagship product, the BextMachine, leverages machine vision, AI, IoT, and blockchain technology to assess and track commodities from their source. It also integrates blockchain with quantifiable sustainability measurements, providing a traceable fingerprint from producer to consumer.
The company operates globally, with a notable presence in the US, Europe, Ghana, Paraguay, and Somalia
Key customers and partnerships
As of January 2024, notable customers of Bext360 included BASF Care Chemicals, Coda Coffee, ESSELUNGA, PACHA SOAP & SOLI, Eion, and Queen City.
In 2017, the company partnered with Great Lakes Coffee, a Ugandan coffee exporter, and Denver-based roaster Coda Coffee, aiming to produce the world's first blockchain traceable coffee. The company also collaborated with Moyee Coffee, an Ethiopian and Dutch FairChain coffee company, to track coffee from Ethiopia to Amsterdam and the payments made to farmers. The program, powered by blockchain technology, records the coffee's journey and financial transactions, providing full transparency.
Funding and financials
In July 2018, the company raised USD 2.15 million in a seed round led by SKS Ventures, with participation from Plug and Play Ventures and several individual angel investors. The company intended to use this capital to expand into new verticals such as cotton, palm oil, cocoa, nuts, seafood, and timber.
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