Omnichain recognized for its groundbreaking technology, set to help global consumer packaged goods companies and retailers transform their supply chains using Blockchain
LOS ANGELES – June 15, 2018 – Omnichain Solutions (Omnichain), a supply chain technology
startup leveraging the power of Blockchain, announced today that it has been
selected as a finalist for Red Herring's Top 100 North America award, a prestigious list honoring the year’s most promising
private technology ventures in North America. Omnichain will present its
market-differentiating strategy on June 20 at 6 p.m. PT during the Red Herring
North America Forum in Marina Del Rey, California.
Co-founded by supply chain
visionaries, Pratik Soni and Ray Young, Omnichain is a market disruptor that
leverages Blockchain technology to drive transparency and trust across the
value chain for global consumer packaged goods (CPG) brands and retailers.
Using patented intelligent planning algorithms and business rules, Omnichain
helps companies more accurately forecast at the SKU and planogram levels to
meet customer demand across all sales channels, thereby limiting excess inventory,
optimizing manufacturing planning, eliminating lost sales and reducing carrying
Pratik Soni, co-founder and
CEO, Omnichain, said, “We are excited to share our vision, market strategy and
business trajectory at the Red Herring North America Forum. While Blockchain
technology has upended the FinTech industry, it also holds tremendous promise
for CPG brand and retailers. We recognized early on how a secure, digitized
ledger of transactions connected through Blockchain could help streamline
today’s ever-complex supply chains, driving real-time transparency, better
forecasting and planning, and promoting growth for our clients.”
Finalists for the 2018 Top
100 North America award were selected based upon their technological
innovation, management strength, market size, investor record, customer
acquisition, and financial health. During the months leading up to the
announcement, Red Herring reviewed over 1200 companies in the telecommunications,
security, cloud, software, hardware, biotech, mobile and other industries that
completed their submissions to qualify for the award.
"This year was
rewarding, beyond all expectations" said Alex Vieux, publisher and CEO of
Red Herring. "There are many great companies generating really innovative
and disruptive products in North America. We had a very difficult time
narrowing the pool and selecting the finalists. Omnichain shows great promise
and therefore deserves to be among the finalists. Now we’re faced with the
difficult task of selecting the Top 100 winners of Red Herring North America.
We know that the 2018 crop will grow into some amazing companies that are sure
to make an impact."