Supply Chain startup gets $7.5M funding

Filed in archive News on May 3, 2006

InSync, a supply chain software startup that helps companies track their assets, announced a $7.5-million first round of funding Tuesday, RED Herring reported.

The company, with about 25 employees, is planning to use the funding to expand its operations in the United States as well as in Asia and Europe, said CEO Ashish Chona.

InSync's software is complementary to other supply chain software providers like SAP and Oracle that typically target the transactional functions of supply chain management such as purchase orders, inventory, and forecasting, Mr. Chona said.

The round was led by Rustic Canyon Partners and Intel Capital with additional capital coming from several other investors.

InSync's software allows users to sense and respond to movement of goods with latest technologies such as RFID and sensor-based computing in existing supply chain management solutions.