Transmute Closes $2M Seed Round
We’re thrilled to announce the close of Transmute’s $2 million series seed round led by Moonshots Capital, and joined by TMV, Kerr Tech Investments and several strategic angels.
Transmute has gained momentum on our mission to be the trusted data exchange platform for global trade. As a byproduct of the pandemic, the world is collectively facing persistent supply chain disruption and unpredictability. This coupled with increasing traceability regulations is driving an urgency for importers to fortify their supply chains. COVID-19 especially has highlighted the need for preventing counterfeit goods and having certainty about your suppliers (and their suppliers).
Transmute’s software is upgrading trade documentation today to give importers a competitive edge in an increasingly dynamic, global marketplace. Leveraging decentralized identifier (DID) and verifiable credential (VC) tech with existing cloud-based systems, Transmute is able to offer digital product and supplier credentials that are traceable across an entire logistics ecosystem. From point of origin to end customer, we are unlocking unprecedented visibility into customers’ supplier networks.
Disrupting a highly regulated and old-fashioned industry is complex, and an intentional first step in our go-to-market strategy has been balancing both the needs of regulators and commercial customers.
This is why we’re incredibly proud to join forces with our lead investors at Moonshots Capital, a VC firm focused on investing in extraordinary leaders. We look forward to growing alongside Kelly Perdew (our newest Board of Directors member) and his founding partner Craig Cummings. They’re a team of military veterans and serial entrepreneurs with extensive success selling into government agencies and enterprises.
We are equally proud to be joined by Marina Hadjipateras and the team at TMV, a New York-based firm focused on funding pioneering, early-stage founders. Between their commitment to diverse teams, building sustainable futures and their deep expertise in global shipping and logistics, we feel more than ready to take on global trade with this firm.
The support of Kerr Tech Investments, led by Josh and Michael Kerr, further validates our company’s innovative approach to data exchange. Josh is a seasoned entrepreneur, an e-signature expert and has been advising us since Transmute’s inception.
Closing our seed round coincides with another exciting announcement: our recent launch of Phase II work with the U.S. Department of Homeland Security, Science & Technology’s Silicon Valley Innovation Program (SVIP) to enhance “transparency, automation and security in processing the importation of raw materials” like steel.
Our vision is more broad than just improving how trade gets done, and steel imports are just the beginning. We’re inserting revolutionary changes into the fabric of how enterprises manage product and supplier identity, effectively building a bridge — or a fulcrum, rather — towards new revenue streams and business models across industries.
Last — but absolutely not least — I want to give a personal shoutout to my core teammates; startups are a team sport, and our team is stacked! Tremendous congratulations as these backers will accelerate our progress in a huge way. And finally, thanks also to our stellar team of advisors who commit significant time coaching us through blind spots as we bring Transmute’s product to market.
Also, we’re Hiring!
Expanding our capacity to meet customer demand is our top nearterm priority. We’re adding a few engineering and product roles to our core team in Austin, TX, so please apply or spread the word!
