EVRYTHNG, an IoT platform already giving billions of consumer products their own trackable digital identity, has raised $10 million in a round of funding to accelerate the digitalization of many more consumer products making them more transparent, trackable and authentic. This brings the company's total capital raised to $60 million.
EVRYTHNG will use the new investment to accelerate its global growth, expand its product capabilities that provide end-to-end supply chain traceability and visibility and machine-learning applications for brand integrity, and add to its team. A pioneer of the internet of things for consumer products and a World Economic Forum Global Innovator, EVRYTHNG works with global consumer brands that include Ralph Lauren, PUMA, P&G, Moët Hennessy and Anheuser-Busch InBev, among many others.
The EVRYTHNG Product Cloud™ links every product item to its Active Digital Identity™ on the web—joining up item-level data at every point in a product’s journey from manufacture to the consumer. Digitized products provide visibility, validation and real-time intelligence as well as connect directly with consumers. Led by Copenhagen-based IDC Ventures and private investor & EVRYTHNG chairman Simon Eyers, other investors in the company’s latest round include San Francisco–based Sway Ventures, Toronto-based Generation Ventures, New York–based Fernbrook Capital and You & Mr Jones, London-based Bloc Ventures, the UK Future Fund and other private investors.
“COVID-19 has made supply chain transparency and visibility absolutely crucial, not only in retail categories such as apparel, pharma and consumer goods, but in healthcare, government and other sectors as well,” said Niall Murphy, CEO and Co-founder of EVRYTHNG. “With this new funding, we’ll broaden our global reach to accelerate digitization for more consumer brands and companies in other segments as they strive to create more agile, resilient and sustainable supply chains while gathering data intelligence and scaling their consumer relationships. ”
EVRYTHNG has experienced rapid growth in 2020 as global brands and manufacturers have embraced product digitization for visibility across their supply chains and to scale their direct-to-consumer business models. EVRYTHNG has recently launched strategic partnerships with Minet Technologies (Israel), The Results Group (Australia), Practical Methods (South Korea) and Hive (South Africa). In addition, in April, EVRYTHNG announced a long-term global partnership with HP Inc. that will enable consumer goods and publishing customers to use HP’s industrial digital printers to print “born digital” packaging with cloud-connected digital identities. The EVRYTHNG Product Cloud™ SaaS provides global product data management with coverage across the EMEA, Americas, China and APAC regions and ISO certification.
Murphy added, “We’re seeing significant digital acceleration as global brands apply data intelligence and real-time learning from the billions of data points their products generate throughout their supply chain journey—from factory to consumer to resale and recycle—and we’re accelerating our own growth to meet these companies’ needs.”
The EVRYTHNG Product Cloud™ helps the world’s consumer product brands run their businesses with data-driven intelligence through the digitization of products at scale and the use of data generated by those products. With EVRYTHNG, global consumer brands in sectors ranging from apparel, beauty and personal care to home goods, food and beverages can now know what their products know. EVRYTHNG’s customers see and learn from each product’s journey from factory to consumer. EVRYTHNG helps businesses use this information to operate with more agility and integrity, and gather and apply real-time data intelligence. EVRYTHNG is a World Economic Forum Global Innovator, originated the technology driving the GS1 Digital Link global barcode upgrade and the Web of Things adopted by W3C, and won Fast Company’s 2020 World Changing Ideas Award for most impactful change driver for the consumer products category. Learn more at EVRYTHNG.com and @EVRYTHNG.