IoT-based supply chain tracking startup Tive raises $3.14M Seed round
Jun 12 2017
Tive, a Boston-based sensor-driven supply chain tracking startup raised $3M seed funding. The round was led by led by VC firm Accomplice and NextView Ventures as well as existing investors Bolt and Hyperplane. The announcement was made on June 5, 2017, and the proceeds will be used to further develop the sensor and cloud software platform of Tive.
Tive’s solution provides large shippers and manufacturers real-time visibility into the location and condition of shipments. The solution consists of multi-sensor cellular-connected trackers, a cloud-based software and the Tive API.
The hardware component is a low-power multi-sensor internet-connected tracker that uses cellular connectivity to provide real-time monitoring of shipments. The sensors can track location, temperature, humidity, shock, and orientation.
The cloud-based software can be used to set custom alerts and configure geofences. Additionally, shipping customers can use the Tive API to pull data in their ERP or SCM systems.
+ Tive's solution is applicable in industry verticals such as electronics, pharmaceutical, medical devices, industrial equipment, and automotive.
+ Asset Tracking and Supply Chain Visibility are two primary use cases of Tive's internet-connected solution.
+ The startup will be hiring in coming months in a number of areas, including hardware and software engineers.
Tive Raises $3 Million to Expand Supply Chain Visibility Solution https://t.co/CKm9TRXfk1 pic.twitter.com/SSseSQwRm3
— Crowdz (@mycrowdz) June 6, 2017
Nokia Shows off Tive at Hannover Fair https://t.co/KOCTWvogP9 pic.twitter.com/pupTaoEXOD
— Tive (@tiveInc) May 8, 2017
OffGridBox Delivers with Tive https://t.co/GWq0nB8Lsh pic.twitter.com/tSIktB2TYF
— Tive (@tiveInc) May 29, 2017