OriginTrail has closed its token sale after hitting the hard cap of $22.5 million. The blockchain startup is building infrastructure for supply chain data sharing. The company is creating blockchain
OriginTrail has closed its token sale after hitting the hard cap of $22.5 million. The blockchain startup is building infrastructure for supply chain data sharing.
The company is creating blockchain systems that let organizations across supply chains share data securely. The technology is designed to increase trust, improve efficiencies, and bring transparency to supply chains.
CEO Tomaž Levak said the company will use the capital to advance its plans. "With this support, we can now begin executing the entirety of our roadmap over the next three years and ensure that ODN makes its way towards becoming the open-source standard for building transparency in supply chains," he said.
OriginTrail's technical approach centers on the Decentralized Network (ODN), a peer-to-peer system operating off-chain. Nodes negotiate with each other, exchange data, verify its integrity, track its availability, and compensate providers for their services. Users maintain encrypted control over sensitive information.
The protocol supports existing industry standards for data exchange like GS1 and IoT, allowing companies to integrate it with their enterprise resource planning systems.
Levak described the ambition behind the work. "Our vision is to bring data integrity and transparency to supply chains worldwide," he said. "We are proud that our innovative, blockchain-based data integrity solution was already recognized by the global leaders who share our vision for transparent supply chains as a precondition for protecting consumers and brand as well as increasing efficiencies on a global level."
OriginTrail started with the food sector. Through Bits x Bites, a food technology accelerator, the startup piloted its technology with Yimishiji, a Chinese online grocer. Co-founder Žiga Drev presented the work at a Walmart event. The project allowed customers to verify product origin and handling, improving supply chain transparency and safety. In November, Walmart's Food Safety Collaboration Center recognized the effort and added it to its Innovation Pipeline.
Matilda Ho, founder of both Bits x Bites and Yimishiji, offered her view. "As China's first food tech accelerator VC, we set out to support startups that share our mission—to advance technology solutions to shape the future of good food," Ho said. "We couldn't be more pleased to be working with OriginTrail and seeing the team revolutionize tomorrow's food supply chains."
OriginTrail recently joined the Enterprise Ethereum Alliance, where it will collaborate with the Supply Chain Working Group to develop proof-of-concepts and identify blockchain solutions for pain points in supply chain management.
