UPS Invests in Blockchain-Based E-Commerce Platform Inxeption
January 16 2019 - 2:15PM
Dow Jones News
By Colin Kellaher
Blockchain-for-business platform developer Inxeption Corp. on
Wednesday said it received an equity investment from United Parcel
Service Inc.'s (UPS) Strategic Enterprise Fund private-equity
arm.
Inxeption, founded in 2017 by Oracle Corp. (ORCL) veterans
Farzad Dibachi, Mark Moore and Terry Garnett, said it will use the
proceeds to create new e-commerce solutions for B2B sellers and
buyers.
The company said its blockchain-based e-commerce platform
catalogs and digitizes product information and offers real-time
analytics so customers can monitor online sales and receive
real-time order status.
Inxeption said it plans to work with UPS to develop and bring
new solutions to market. The size of the UPS investment and
Inxeption's valuation weren't disclosed.
UPS's Strategic Enterprise Fund, established in 1997, has
previously invested in such companies as online working capital
provider Kabbage Inc. and RFID products maker Impinj Inc. (PI).
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 16, 2019 14:00 ET (19:00 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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