Shippers, logistics providers, retailers and other global supply chain players are making climate resilience a strategic priority. The shift is creating business opportunities for Boston-based Tive, which uses software and sensors to provide real-time supply-chain visibility.
“As disruptions from weather and climate events become more frequent and severe, the reliability of global supply chains is becoming increasingly critical and challenging,” said Jay Koh of New York-based climate adaptation and resilience investor Lightsmith, which led Tive’s latest $20 million financing round (see “Financing climate adaptation and resilience”).
“Tive delivers the ground-truthing data and insight needed to navigate the increasing complexity of the supply chain and support climate resilience,” Koh said.
Climate adaptation
The financing will enable Tive to accelerate the development of supply chain visibility tools using AI.
More than 1,200 supply chain and logistics customers in about 190 countries use Tive’s trackers and software to monitor shipment location and conditions, including temperature, humidity, tilt and shock across all modes of transport. Tive has created a circularity incentive program to recycle its trackers.
Other investors in the new round include Sageview Capital, World Innovation Lab, AVP and Supply Chain Ventures.
