UPS Invests in Blockchain-Based E-Commerce Platform Inxeption
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 firstname.lastname@example.org
(END) Dow Jones Newswires
January 16, 2019 14:00 ET (19:00 GMT)Copyright (c) 2019 Dow Jones & Company, Inc.