FOR IMMEDIATE RELEASE
Seattle, Washington – December 12, 2023 – Transparent Path spc, a Seattle logistics tech company dedicated to reducing cost, risk, and planetary impact through advanced logistics technologies, today announces the successful closure of a $1.6 million seed funding round, alongside market entry into the Southern Hemisphere, and the signing of a pivotal partnership with Sidera Consult. This triple milestone, marked by the lead investment from Vancouver, Canada-based DDJ Holdings, Inc. with additional support from Seattle technology and banking sector angels, provides the fuel to propel Transparent Path into a new era of international expansion, with a focus on the South American and Australian markets.
Besides enabling the company’s mission-driven expansion into new markets, the funding will enable the launch of Transparent Path’s eco-friendly ProofTracker™ and ProofTracker™ Pro logistics trackers on January 1, 2024.
The mission to reduce cost, waste and planetary impact inspired Canadian and US investment
DDJ’s John Hossack saw Transparent Path’s mission as a key reason for investment. “The amount of waste globally is staggering,” said Hossack. “Food waste, chemical waste, bio waste…much of this waste occurs due to challenges that occur during the logistics journey that products endure in our globalized world. We are very excited about Transparent Path’s ability to reduce waste, and in so doing reducing hunger and greenhouse emissions. Not only will they reduce waste due to product damage during shipping, but this revolutionary hardware will reduce electronic waste that ends up in our landfills with their game-changing biodegradable sensors — and their fully compostable sensors that will come after that.”
DDJ Holding’s John Hossack
Key partnership sealed with São Paulo-based Sidera Consult
L to R: Leo Baumgratz (Sidera), Eric Weaver and Paulé Wood (Transparent Path), Carolina Saldanha-Ures and Diego Ures (Sidera)
Coinciding with the seed round funding, Transparent Path signed a crucial partnership agreement with Sidera Consult, a São Paulo-based firm specializing in trade enhancement and market liberalization. This strategic alliance is essential for Transparent Path’s successful entry into the Brazilian market, facilitating seamless navigation of regulatory and taxation challenges.
“We are thrilled to announce our partnership, and we are positive it will revolutionize the pharmaceutical, food, cosmetics, and civil construction industries in Latin America.”
Sidera CEO Carolina Saldanha-Ures added, “Our collaboration will address inefficiencies and minimize waste, thereby optimizing supply chain transparency. Thanks to Eric’s visionary leadership, we have made rapid progress during the pilot phase, and ongoing projects are already redefining industry standards.”
Saldanha-Ures continued: “As experts in trade enhancement and market liberalization, we are confident that we can boost Transparent Path’s innovative approach to reducing hunger, improving logistics, and catalyzing economic growth in the region. Together, we are taking bold steps towards transforming these strategic industries, and excited to see the positive impact of our collaboration.”
Australian market expansion
Additionally, in early November 2023, Transparent Path joined a Washington State trade mission to Australia. From that mission, the company kicked off new relationships with local fruit marketing and packing companies. Transparent Path technologies now track and protect avocado shipments across Australia. The new relationships show Australian food and pharma producers are looking for solutions that help insure the value of critical shipments and exports.
Transparent Path’s ProofTracker™ and ProofTracker™ Pro, in Melbourne, Australia
Eric Weaver, CEO of Transparent Path, commented on this significant development: “My experiences with childhood hunger created a profound distaste toward wasted food, and my previous role at Xerox showed the need for advanced technologies that could reduce this waste. The journey, from pandemic-era startup, to being able to share my mission and enthusiasm with investors and partners, has been the most rewarding of my life. — and I am grateful to DDJ and Sidera for joining me on the path.”
About Transparent Path
Transparent Path spc, a leader in American logistics technologies, is transforming real-time, end-to-end visibility for perishable products. A for-profit corporation recognized for its commitment to transparency and social responsibility, Transparent Path is using logistics innovation to create a positive impact on the planet. The company’s mission is to harness advanced logistics technologies, such as artificial intelligence, cellular IoT, and blockchain, to reduce supply chain cost, risk, and planetary impact.
A key differentiator for Transparent Path is its advanced ProofTracker devices. Attached directly to pallets, these eco-friendly devices provide unparalleled supply chain visibility from origin to destination. They generate real-time alerts about potential risks during transit, keeping food, pharmaceutical and chemical products out of landfills while ensuring their value, freshness, and safety.
Headquartered in the US, the company was founded by Eric Weaver, a 30-year enterprise transformation specialist. Prior to founding Transparent Path, Weaver launched the Xerox Customer Experience Practice, where he managed a $550M services book of business.
To learn more about how Transparent Path is shaping the future of logistics technology and contributing to a more sustainable world, visit transparentpath.com.
About Sidera Consult
Sidera Consult, a global firm of distinguished international trade consultants, specializes in delivering impactful solutions to complex challenges. Their primary focus is guiding clients toward achieving their objectives in the markets they serve, or want to operate in.
Comprising accomplished economists, proficient trade lawyers, seasoned accountants, and insightful data analysts from diverse global backgrounds, their collaborative team strives to provide intelligent, inventive, and lasting solutions. Above all, their commitment to excellence is reflected in the quality and impact of their work, as they take pride in delivering transformative results for their clients in the realm of commercial diplomacy and market expansion.
For more information, please visit sideraconsult.com.
Media Contact
Jen Longtin
Transparent Path spc
[email protected]
