• Autify Network secures strategic funding from Ava Labs to enhance blockchain-based supply chain solutions.
  • Ava Labs will also provide technical expertise, infrastructure, and blockchain ecosystem access to help Autify Network scale and explore cross-border payments.
  • The startup has previously raised a total of $2.4 million and has onboarded over 1,000 B2B brands while completing 50+ PoCs.

Singapore and Bengaluru-based blockchain-powered supply chain solutions startup, Autify Network has received strategic funding from Ava Labs, the creators of the Avalanche blockchain.

The investment aims to support Autify Network in expanding its decentralized supply chain ecosystem by leveraging blockchain and artificial intelligence (AI) to enhance transparency, trust, and efficiency.

According to the startup, Ava Labs' support goes beyond just funding. The blockchain giant will also offer technical expertise, infrastructure, and access to its blockchain ecosystem to help Autify scale and grow. The partnership aims to tackle major issues in global supply chains—like counterfeiting, inefficiencies, and a lack of transparency—that cost businesses over $4 trillion each year.

Commenting on the collaboration, Nabarun Chakraborty, Founder of Autify Network, stated:

"Our vision is to create a decentralized, transparent, and efficient supply chain network that businesses across industries can trust. With Ava Labs’ backing, we are now in the best position to scale our products and make a lasting impact on global trade."

Avalanche’s blockchain, known for its speed, scalability, and low costs, will serve as the foundation for Autify Network’s decentralized supply chain platform. The partnership will also explore Avalanche’s potential for cross-border payments and trade financing, offering businesses a secure and cost-effective alternative to traditional banking.

Autify Network is going to leverage the Avalanche infrastructure to build a decentralized ecosystem that powers vendor aggregation & verification, supply chain traceability, cross-border payments & trade finance, AI-driven insights, and more. By harnessing Avalanche’s high-performance blockchain infrastructure, Autify Network will enable millions of secure and efficient on-chain transactions, enhancing transparency and resilience across global supply chains.

The startup previously secured $500,000 in a strategic funding round led by MyAsiaVC and other prominent investors. This followed an earlier $1.9 million raised from Loop Ventures, NEAR Foundation, SIA Foundation, Stellar Community Fund, Filecoin, and others, bringing its total funding to $2.4 million before the latest backing from Ava Labs.

Autify Network has onboarded over 1,000 B2B brands and vendors, with more than 20,000 users engaging with its platform monthly. Additionally, it has conducted over 50 successful proof-of-concept (PoC) projects in the fashion and luxury industries.

Edited by Harshajit Sarmah