Although some once-high-flying FreightTech firms folded in 2023 and others are cutting staff, some supply chain-related technology startups continue to secure venture capital and funding deals.

Sayari, a supply chain risk intelligence provider, recently announced private equity firm TPG is making a $228 million strategic majority investment in the company.

Meanwhile, global supply chain-focused startups TrusTrace and Kusari recently secured $24 million and $8 million, respectively, and e-commerce platform announced it has secured a $70 million debt facility from Silicon Valley Bank.

TPG invests $228 million in Sayari

Sayari announced it has signed an investment agreement with TPG aimed at accelerating the startup’s global expansion and supporting the launch of a new AI supply chain illumination platform. 

TPG Growth, the firm’s middle market and growth equity platform, is making a $228 million majority investment in Sayari, which will give TPG a majority investment in the company. However, Sayari’s founders, employees and existing investors will retain a significant stake in the company, according to a news release.

“We see a massive opportunity in the supply chain risk space to drive down costs and deliver superior insights to decision makers and we’re pleased to have a partner who shares our vision,” Farley Mesko, co-founder and CEO of Sayari, said in a statement. “TPG brings tremendous resources, operational expertise, and a customer-first philosophy that is truly unique.”

Founded in 2015, the Sayari platform integrates global corporate and supply chain data to provide risk insights for investigations, analytics and supply chain strategies. Sayari’s customers include regulators, law enforcement and national security agencies, and public and private companies. 

Sayari, which is based in Washington, D.C., has raised more than $300 million in venture capital and debt financing over the past nine years.  

TPG (NASDAQ: TPG) describes itself as an alternative asset management firm. Founded in San Francisco in 1992, the company has over $212 billion worth of assets under management and investment around the world. 

The transaction was announced Tuesday and is expected to close in the first quarter.

TrusTrace raises $24M to bring supply chain traceability to fashion industry

TrusTrace has completed a $24 million growth investment round led by Circularity Capital, which will enable the company to strengthen its presence in key markets, as well as expand product developments and collaborations.

Stockholm-based TrusTrace is a software-as-a-service company founded in 2016. TrusTrace’s platform provides companies with product traceability and compliance.

“A growing number of fashion and textile brands are adopting supply chain traceability to support their sustainability goals and ensure competitiveness in the face of mounting regulatory and consumer pressure,” Shameek Ghosh, CEO and co-founder of TrusTrace, said in a news release. “The completion of this growth investment is further evidence that businesses see traceability as critical to achieving their sustainability goals.”

Other participants in the latest funding round include existing investors Industrifonden and Fairpoint Capital. TrusTrace has raised over $31 million in venture capital.

Kusari aims to make supply chain software more secure with $8M investment

Supply chain security startup Kusari announced Thursday it raised $8 million in pre-seed and seed round funding led by J2 Ventures.

Ridgefield, Connecticut-based Kusari was founded in 2022. The firm is a security provider aimed at helping companies assess the software used to run supply chains and prevent costly issues, such as cyberattacks.

“With the investment, we will continue to develop tools that make it easier for organizations to understand modern software and identify costly vulnerabilities,” Tim Miller, Kusari’s co-founder and CEO, said in a news release.

In addition to J2 Ventures, the seed round was co-led by Glasswing Ventures with participation from Unusual Ventures, which previously invested $2 million in pre-seed funding.

“Code breaches are increasingly becoming a top priority,” Kleida Martiro, partner at Glasswing Ventures, said in a statement. “In an era where software supply chain attacks are on the rise, the demand for stringent security measures has never been more critical.” secures $70 million from Silicon Valley Bank

Houston-based, a commerce and logistics technology provider, announced Thursday it has finalized a $70 million debt facility from Silicon Valley Bank.

The latest facility is part of a larger $100 million debt refinancing provided by SVB’s Technology Corporate Banking Division and Trinity Capital Inc.

Officials for said the funds will be used to scale and grow in 2024.

“’s business grew 50% amid a challenging year for retailers and commerce enablement providers alike — a testament to the innovative logistics and commerce infrastructure solutions that are helping our mid-market and enterprise customers unlock more efficient growth,” Omair Tariq,’s founder and CEO, said in a news release. provides physical and digital infrastructure to more than 6,000 multichannel merchants to sell and fulfill customer orders around the world. In June, announced it had raised a $60 million Series C equity funding round at a valuation of $1.2 billion.

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