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DataWeave Launches Interactive Dashboard to Track U.S. Grocery Inflation

DataWeave

DataWeave, a global leader in retail data, pricing and AI analytics, today launches its interactive eCommerce Grocery Price Tracker, providing a detailed, nuanced view of price changes and serving as an index of U.S. pricing trends. DataWeave examines pricing and availability by category and retailer in light of inflation and market-driven economic changes. Analyzing over 117,000 SKUs, the Tracker showcases how grocery brands and retailers are adjusting their pricing in an inflationary environment as they work to stay engaged with an increasingly price-sensitive consumer. DataWeave’s Grocery Price Tracker, which will be updated monthly, shows month-over-month price changes starting June 2021. It also indicates shifts in product availability. “The American consumer has clearly been feeling more than a pinch at the grocery store. This has been driven by a confluence of ongoing global supply chain constraints, regional conflicts and climate change. All this has added up to pricing pressures and availability issues,” said Karthik Bettadapura, CEO of DataWeave. “Our data reveals that the sharp price increases we saw in December 2021 across grocery retailers and delivery intermediaries, have continued to rise ever since. With our complimentary tracker, our aim is to enable retailers and analysts alike to spot inflection points for these trends as they evolve.” Each month, the Grocery Price Tracker will highlight the retailer that offers products with a maximum price decrease across a certain category, and one imposing the maximum price increase across a particular category. It also shows average month-over-month price changes across all products tracked within each category and retailer analyzed. “With inflation at a 40-year high and dynamic pricing changing the competitive landscape daily, we continue to hear that affordability is top-of-mind for consumers, while availability in certain categories, such as baby formula, has escalated to an urgent national issue,” said Krishnan Thyagarajan, President and COO of DataWeave. We hope our ongoing Grocery Price Tracker and inflation indices we are developing for other categories will provide the fastest visibility to the latest trends and greater insight for retailers and brands.” Report Methodology To come to its findings, DataWeave analyzed 117,381 SKUs, tracking price variations and stock availability across 16 grocery retailers and delivery intermediaries, dating from June 2021 to the present, interactively noting price variations and stock availability by retailer. # # # DataWeave is a leading provider of advanced sales optimization solutions for e-commerce businesses, consumer brands and marketplaces. The AI-driven proprietary technology and language-agnostic platform aggregates consumable and actionable Competitive Intelligence across 500+ billion data points globally, in 25+ languages, with insights to drive performance for more than 400,000 brands across 1,500+ websites tracked across 20+ verticals and ensure online performance is always optimized. Learn more about the power of big data and global level analytics in understanding the rapidly changing retail industry at DataWeave.com. Contact Details MKPR Meir Kahtan +1 917-864-0800 mkahtan@rcn.com Company Website https://dataweave.com

June 08, 2022 10:30 AM Eastern Daylight Time

Influencers 5X Revenue Scale Has You Covered

TCM DIGITAL

NinjaInfluence, an all-in-one Influencer Marketing AI SaaS platform, provides an affordable yet powerful use of influencer marketing and is stepping up its game. As sales growth shifted across the eCommerce sphere, NinjaInfluence has adapted and challenged itself, providing a plan that will help brands increase their sales—introducing Ninja 5X (Ninja Platinum). The 5X Revenue plan does not limit you by the hour or the number of influencers but focuses on reaching your goals: increasing your sales and increasing your ROI, all while building new and recurring revenue streams. In addition to having the talent of an Influencer Marketing Strategist, you will also work with an Influencer Marketing Manager. S/he will create a strategy for your campaign, do the influencer research and vetting process, and determine the perfect influencers who can showcase your product or service to a new audience. In addition to taking care of the execution, the experienced team will take care of the reporting and analysis of each campaign stage and propose new angles to make the reach most effective. With Ninja x5, your campaigns will take off seamlessly with the best possible impact. NinjaInfluence also offers its NinjaGold package for eCommerce sellers a full hands-on use of its entire features to reach, manage and monetize any influencer marketing campaign for maximum scalability About NinjaInfluence NinjaInfluence is an influencer marketing software that supports users in easily managing their strategies and communicating with influencers/creators. Following up on its predecessor, NinjaOutreach, provides access to over 120 million influencers across Instagram, TikTok, YouTube, and Twitter. In addition to its established search engine, NinjaInfluence offers a multitude of features such as eCommerce integration, full analytics dashboards, a smart search manager, an internal payment platform, a related profile recommendation engine, and a consolidated CRM-like workspace. Scalable and effective through its use of powerful big data technology, NinjaInfluence searches through millions of creators to intelligently identify qualified influencer leads and enables the launch of influencer campaigns with traceable ROI. For more information or a free trial with NinjaInfluence, visit https://NinjaInfluence.com/ or book a demo with us here. Contact Details Gabi Bar +1 845-709-8324 gabi@tcmdigital.com Company Website https://ninjainfluence.com/

June 08, 2022 09:50 AM Eastern Daylight Time

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Retention Cloud Leader CleverTap Unveils TesseractDB™

CleverTap

CleverTap, the world’s No. 1 retention cloud, today announced it has unveiled TesseractDB ™, the world’s first purpose-built database designed to dramatically improve user engagement and retention for digital consumer brands. TesseractDB ™ brings true technology innovation to growth marketing leaders looking to deliver in-context, timely, personalized messaging and recommendations across all user touchpoints. TesseractDB ™ makes massive amounts of first-party user data in a privacy-friendly, accessible, and affordable way to power real-time user personalization. Leveraging machine learning and Artificial Intelligence (AI), it offers limitless scale and enables digital brands and businesses to harness data and context for every interaction. User engagement and retention start from Day One when a user launches an app for the first time. Research estimates that nearly 85% of all messaging is considered spam, an average of about 122 billion messages globally. About 36% of spam content is generated from ill-timed, non-personalized marketing messages. This problem continues to be prevalent due to the limited data technologies that are patently unable to store the massive volumes of first-party data required to offer a truly personal customer experience. “Today, we are excited to unveil TesseractDB ™, the data technology that powers the CleverTap platform. It will allow global growth marketing teams to achieve true omni-channel customer engagement,” said Sunil Thomas, CleverTap Co-founder and Executive Chairman. “In the last 40 years, MarTech vendors have cobbled together generic off-the-shelf data technologies in an effort to solve for end-user messaging. These technologies have been limiting, and as a result, brands simply cannot fully unlock their own user data for real and meaningful relationship building. To transition away from the spam and transactional communication that is so prevalent in MarTech today, we must make user data available, affordable, and easily accessible. This is why we invented TesseractDB ™.” TesseractDB ™ is a giant technological leap that removes all data related limitations typically associated with the MarTech industry. Using TesseractDB ™, digital brands can offer each user a magical onboarding experience and continue to deliver delightful experiences throughout their journey. TesseractDB ™ enables CleverTap to offer unmatched technology, features, and capabilities - Unlimited data look back periods without any limitations High speed, scale, and unmatched throughput Rich, granular first-party user data storage Built-in real-time machine learning and AI Hyper-personalized engagement and recommendations “Until now, data look back and access limitations, created by overages and cost, prevented brands from unlocking the full potential of first-party user data for engagement. This is a deep tech and science problem. With TesseractDB ™, CleverTap provides the industry’s most versatile segmentation and data processing engine for mobile engagement, ” says Momchil Kyurkchiev, Chief Strategy Officer, CleverTap. He adds, “TesseractDB ™ is designed to provide MarTech professionals a cost-effective and efficient way to capture unlimited data streams and deliver actionable insights and analytics to drive personalization and engagement.” About CleverTap CleverTap is the modern, integrated retention cloud that empowers digital consumer brands to increase customer retention and lifetime value. For brands that understand and value user retention, CleverTap drives context and individualization with the help of a unified and deep data layer, AI/ML-powered insights and automation. Customers worldwide representing over 10,000 apps, including Premier League, Bolt, Truecaller, Current Mobile, Trebel, Zé Delivery, TitleMax, YouNow, Albo, Vodafone Idea, SonyLIV, Gojek, Carousell, and Premier League, trust CleverTap to achieve their retention and engagement goals, growing their long term revenue. Backed by leading venture capital firms, including Sequoia India, Tiger Global Management, and Accel, the company is headquartered in Mountain View, California, with offices in Mumbai, Singapore, and Dubai. For more information, visit https://clevertap.com/ or follow on LinkedIn and Twitter. Forward-Looking Statements Some of the statements in this press release may represent CleverTap’s belief in connection with future events and may be forward-looking statements, or statements of future expectations based on currently available information. CleverTap cautions that such statements are naturally subject to risks and uncertainties that could amount in the actual result being absolutely different from the results anticipated by the statements mentioned in the press release. Factors such as the development of general economic conditions affecting our business, future market conditions, our ability to maintain cost advantages, uncertainty with respect to earnings, corporate actions, client concentration, reduced demand, liability or damages in our service contracts, unusual catastrophic loss events, war, political instability, changes in government policies or laws, legal restrictions impacting our business, impact of pandemic, epidemic, any natural calamity and other factors that are naturally beyond our control, changes in the capital markets and other circumstances may cause the actual events or results to be materially different, from those anticipated by such statements. CleverTap does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated or revised status of such statements. Therefore, in no case whatsoever will CleverTap and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages. Contact Details Sony Shetty sony@clevertap.com Company Website https://clevertap.com/

June 07, 2022 03:38 PM Eastern Daylight Time

Telos Blockchain Sponsors Unbound Now Gala

Telos Foundation

The Telos Foundation is proud to announce that it will be the official sponsor for the 2022 Unbound Now Gala happening on June 7th in Waco, Texas. Telos is firmly in favor of all that Unbound Now stands for and has accomplished as a non-profit organization and is pleased to support them as they continue to provide aid for humanity’s most vulnerable. Tuesday’s gala celebrates 10 years of Unbound Now’s work to end human trafficking in local communities and around the world. Telos believes that global ESG concerns such as human trafficking, an illicit practice that has more than tripled in the last decade, must be eradicated at all costs. Unbound Now is leading the effort to help save the victims from this heartless act. Founded in the United States in 2012, Unbound Now has grown substantially, launching in several locations worldwide, including Cambodia, Mongolia, Indonesia, South Africa, and various countries in Europe. While their operations vary from one city to the next, Unbound offers three main lines of effort: Prevention and Awareness: Unbound Now works to educate and empower youth, spread awareness through citywide outreaches and provide human-trafficking presentations to groups and organizations. Professional Training: Unbound Now provides training to equip all professionals to use their skills to identify and serve victims of human trafficking. Survivor Advocacy: Unbound Now advocates for victims and survivors by meeting immediate needs, supporting survivors and their families, and connecting each survivor with resources for his or her unique restoration journey. The values and principles of the Telos team are closely aligned with those of Unbound Now and looks forward to making its contribution to put an end to human trafficking - once and for all. About Telos Live since 2018, Telos Blockchain (ticker: TLOS) is an ESG compliant Layer 1 smart contract platform that offers full-service compatibility with Solidity, Vyper and Native C++ smart contracts. The chain along with all of its departments operates at Net Zero status and offers the use of its fair smart contract powered governance system to any interested organization in modular fashion. The chain is capable of finalizing over a billion low-fixed-cost (w/ a feeless option) transactions per day. Since the launch of mainnet, Telos has operated with a flawless network uptime record. The validators of the network are globally decentralized, vetted (KYC) and are all equitable in size. Telos is one of the only Layer 1 Blockchain to be both credibly neutral in both its finances and its architecture. About The Foundation The Telos Foundation is a Decentralized Autonomous Organization established as a promotional and funding body to advance the Telos Blockchain Network and provide support to network applications. Contact Details The Team hello@telosfoundation.io Company Website https://www.telos.net/

June 07, 2022 10:21 AM Eastern Daylight Time

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Minuteman Press Franchise Owner Ken Tays Receives Veteran Business Award from NJ State Veterans Chamber of Commerce and The American Legion

Minuteman Press International Inc

US Army Veteran Ken Tays, who owns the Minuteman Press franchise in Newark located at 20 Clinton St., was recognized with the award for Veteran Business under $3 Million by the NJ State Veterans Chamber of Commerce (NJSVCC) and The American Legion at the Disabled Veteran and Veteran Business Summit. The event was held on May 10 th, 2022 at Middlesex College in Edison. The Summit connected over 100 Veteran-owned businesses with private companies and state agencies to help facilitate partnerships on upcoming projects. Ken says, “It was a real honor to attend the Summit, connect with so many other Veterans and supporters of Veterans, and receive such a prestigious award from the New Jersey State Veterans Chamber and The American Legion. My business, Minuteman Press in Newark, is a small, Veteran-owned franchise, and an event like this is really helpful and inspiring to me.” Ken served in the US Army for 11 years and then earned his degree in financial services. Ken shares, “I worked as a Federal Bank Regulator for 12 years and then entered the private sector working for companies like PwC and Citibank. I decided to research franchise opportunities because I wanted to be my own boss.” In 2019, Ken bought Minuteman Press in Newark. He took over the successful business from Holly Kaplansky, who retired after owning and operating Minuteman Press in Newark for 15 years. Ken says, “At its core, Minuteman Press International is a family-owned business. I went out to Long Island and CEO Bob Titus talked to me for an hour and a half. I was looking for a printing franchise that had that family-like atmosphere and wasn’t so corporate. The other franchises I looked into just didn’t have that same feel to them where I felt comfortable like I did with Minuteman Press.” As for why Minuteman Press is the right fit for Veterans, Ken shares, “I feel like this is my business and yet Minuteman Press provides me with that security blanket of local support and guidance. I have no printing experience and the training and ongoing assistance from Jim Galasso and the local field staff here in Newark really helps me. I know I can contact anyone in the company and they will respond and be there without breathing down my neck all the time.” When asked about the rewards of owning his own business, Ken’s first inclination is to say, “Work life balance. That is something I feel like I have even though I am working hard and always on. I love the challenge of running my own business and being responsible for everything. I spent a lot of time in corporate America making money for other people and I wanted to do this. There are ups and downs but it’s on my time.” Ken’s advice for others who are looking into business ownership or franchising is, “I would say that I looked at a lot of businesses. Find something that is a good fit for you, and find a franchisor that has what you’re looking for. I spent several months doing my due diligence, and once you make that decision, you have to be committed.” For more information on Ken Tays’ Veteran-owned Minuteman Press business in Newark, NJ, visit https://www.mmpnewark.com. Learn more about #1 rated Minuteman Press franchise opportunities at https://minutemanpressfranchise.com. Contact Details Chris Biscuiti +1 631-249-1370 cbiscuiti@mpihq.com Company Website https://minutemanpressfranchise.com

June 07, 2022 10:00 AM Eastern Daylight Time

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ThreatModeler Announces New Patent for IaC-Assist

ThreatModeler Software, Inc

ThreatModeler, a leader in securing cloud infrastructure from design to deployment, today announced the issuance of their newest patent, which makes the IaC-Assist a proprietary technology. The patent, US Patent No. 20220004645A1, has been issued and granted as of April 26, 2022. With IaC-Assist, any user can truly shift left as it relates to implementing security within the code. Users can identify, review, and mitigate security flaws while writing the code in real-time - with simply the click of a button and without leaving their coding environment. IaC-Assist creates a more time and cost-efficient solution to the build process, saving developers the hours it would have taken to build designs and review its security. “Our patented solution, IaC-Assist, reduces threat drift from code to cloud and gives users a simple and efficient solution in truly shifting left,” said Archie Agarwal, Founder and CEO, ThreatModeler. “This patented technology is the only solution in the industry that helps you build threat models from your IDE itself and updates the threat model as you update the code. We’re excited to have these streamlined capabilities patented and available to users.” This patented technology solution is the first of its kind that helps to reduce threats from code to cloud. Users can implement the technology as a processor-executed method of generating a threat model from a code file. The system can analyze the code file, identify properties associated with the resources included in the code file, and generate a threat model based on the resources determined as a security threat. This technology addresses industry pain points by giving tools for security teams to work more collaboratively with the development organizations. Additionally, instead of adding more steps to the build and deploy process, this technology fits within the existing process and enables developers to build security within the code with the least amount of time lost. To learn more about this new patent and ThreatModeler technology, please visit here. About ThreatModeler Software, Inc. ThreatModeler Software, Inc. 's suite of products empowers DevOps to measure their threat drift from code to cloud. With a fraction of the time and cost tied to other tools, users can design, build and validate threat drift from development to deployment. Teams can instantly visualize their attack surface, understand security requirements and prioritize steps to mitigate threats. CISOs can make critical security-driven business decisions to scale their infrastructure for growth. Contact Details Clayton Murtle ThreatModeler@luminapr.com

June 07, 2022 08:00 AM Eastern Daylight Time

Fresho secures $10m to accelerates US and UK expansion plans to make food supply chains more sustainable

Fresho

Fresho, a company that aims to make food supply chains more sustainable between restaurants and their suppliers, has whet the appetite of investors with a $10m series A funding round. Fresho is used by tens of thousands of chefs who simply reach for their device to choose exact quantities for their needs, much like an online shopping experience but specifically tailored to the fast paced B2B food industry. Buyers see live prices and specials, allowing for informed product choices and assistance in food cost management. Suppliers receive the order immediately in an easy-to-use dashboard, which reduces data entry, errors and helps them fulfil orders without delay. The real time sales data enables suppliers to manage purchasing more efficiently and eliminates wastage before it becomes an issue. See how it works here. More than 38,000 foodservice venues across the UK, Australia, New Zealand, and the United States have now used the innovative software solution, with more than $1b processed through the platform annually. Fresho’s user base consists of restaurants, hotels, hospitals, cafes, schools, farm shops, QSRs and independent retailers. Fresho co-founder and Managing Director James Andronis, a former wholesale seafood senior executive from Australia, said increased investment in Fresho’s team and its leading-edge technology was driving the business. “We’ve managed to attract some of the best talent in the UK, Australia and New Zealand and they’re steering our continued investment in state-of-the-art technology,” Mr Andronis said. Fresho now employs over 60 people after launching in the UK in 2021. “This capital raise will enable us to accelerate our growth in the United Kingdom and a strong launch into the United States. Like our other markets, restaurants and suppliers in the US are itching to be more progressive but still working with antiquated processes such as email, phone calls, whatsapp and even the old fax machine. B2B food supply chains are changing at a rapid rate around the world with an increased focus on efficiency and lowering waste. We understand the industry and our tech solves key pain points for these businesses. The adoption of tech is speeding up and it’s fascinating to watch the industry progress at such a fast pace.” The food service market in those four key markets is worth a whopping $415b and is one of the last remaining antiquated industries with a lot of offline interactions. This funding round adds a number of new investors to a strong existing base that includes London based Primorus Investments (LON:PRIM). New investors include venture-capital firm Capital Zed, Andrew Sypkes (who was an early-stage investor in Canva, Aconex and Redbubble), and Second Quarter Ventures (Australia’s leading secondaries fund). In London, a number of iconic venues place orders with Fresho. These include Michelin star rated restaurant Wild Honey within Sofitel St James, Polpo, 1 Lombard Street, and the Bingham Riverhouse. Fresho’s other co-founder and Managing Director Huw Birrell, a former investment banker, reflected on the impact his business’ rapid recent growth is having in making food supply chains more sustainable. “A combination of the depth and breadth we hold in the food supply chain across various geographies, along with our leading-edge technology means we have an incredible bank of insights into food trends and market movements.” “We intend to use this intelligence to help drive improved sustainability in the sector and ensure increased prosperity for all participants in it. As an example, we recently worked with Apple & Pear Australia Ltd that represents Australia’s apple and pear growers to provide data on which varieties have had increasing or declining consumption which they previously had no access to. The power of this data is extraordinary and has the ability to change growing decisions in the future.” Mr Birrell added that he and his team harbour ambition to be the world’s leading ordering platform for food supply chains, and a major source of intelligence for the food industry About Fresho Fresho is used by tens of thousands of chefs who simply reach for their device to choose exact quantities for their needs, much like an online shopping experience but specifically tailored to the fast paced B2B food industry. Buyers see live prices and specials, allowing for informed product choices and assistance in food cost management. Suppliers receive the order immediately in an easy-to-use dashboard, which reduces data entry, errors and helps them fulfil orders without delay. The real time sales data enables suppliers to manage purchasing more efficiently and eliminates wastage before it becomes an issue. See how it works here. Contact Details Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.fresho.com/

June 07, 2022 07:00 AM Eastern Daylight Time

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Elsevier Closes Interfolio Acquisition

Elsevier

Elsevier, a global leader in research publishing and information analytics, and part of RELX, has closed the acquisition of Interfolio, a provider of advanced faculty information solutions for higher education, headquartered in Washington DC, US. For over 20 years, Interfolio has supported academics, researchers, higher education institutions and funders. Interfolio’s portfolio includes Faculty Information System (FIS), Dossier, and Researchfish. Faculty Information System enables academics to collect and manage critical data for academic hiring, review, promotion and tenure, through a streamlined and transparent digital process, using faculty activity data which benefits the scholar and the institution. Researchfish technology helps funders and research organisations to collect, track, assess, and gain deep insights into research outputs, outcomes and impacts. Dossier helps individual scholars and researchers to aggregate and efficiently apply for faculty positions and graduate programs. Andrew Rosen, Chief Executive Officer at Interfolio, said: “I am incredibly proud of everyone at Interfolio. We have a singular focus: helping our customers to understand and effectively manage the huge amount of activity that scholars accomplish. As part of Elsevier, we will retain this focus and strengthen our core products for our customers. We will aim to support more institutions internationally, increase data automation to help our customers improve efficiency, and provide sophisticated analytics tools to expand insights and facilitate scholarly work. This is an exciting next step for our business, and I look forward to working with the Elsevier team.” Interfolio will be part of Elsevier’s Research Intelligence portfolio, which includes Scopus, SciVal, Pure and Digital Commons. The combined portfolio will deliver analysis and insights that help academic researchers, research leaders, institutions and funders achieve their strategic goals. Theo Pillay, General Manager of Research Institutional Products at Elsevier, said: “Interfolio has an unparalleled understanding of scholarly faculty activity and managing research assessment data. Its solutions will strengthen our Research Intelligence portfolio and there are strong synergies that will help us deliver increased and accelerated value to both Elsevier and Interfolio customers and users. I am very pleased to welcome the Interfolio team to Elsevier.” Macquarie Capital served as exclusive financial advisor to Interfolio. About Interfolio Conceived by academics for academics, Interfolio is an education technology company headquartered in Washington, DC, US. Founded in 1999, Interfolio serves colleges and universities, funders and research organizations, and individual scholars. More than 400 clients based in 25 countries choose Interfolio’s solutions for hiring and recruitment, academic appointments and timelines, activity data reporting, faculty reviews and promotions, and research impact analysis. Interfolio provides scholar-first products for the full academic lifecycle—from job seeking to professional accomplishments, committee service, funding award compliance, career growth and advancement, administrative leadership, and beyond. For more information about Interfolio, please visit www.interfolio.com. About Elsevier As a global leader in information and analytics, Elsevier helps researchers and healthcare professionals advance science and improve health outcomes for the benefit of society. We do this by facilitating insights and critical decision-making for customers across the global research and health ecosystems. In everything we publish, we uphold the highest standards of quality and integrity. We bring that same rigor to our information analytics solutions for researchers, health professionals, institutions and funders. Elsevier employs 8,700 people worldwide. We have supported the work of our research and health partners for more than 140 years. Growing from our roots in publishing, we offer knowledge and valuable analytics that help our users make breakthroughs and drive societal progress. Digital solutions such as ScienceDirect, Scopus, SciVal, ClinicalKey and Sherpath support strategic research management, R&D performance, clinical decision support, and health education. Researchers and healthcare professionals rely on our over 2,700 digitized journals, including The Lancet and Cell; our over 43,000 eBook titles; and our iconic reference works, such as Gray's Anatomy. With the Elsevier Foundation and our external Inclusion & Diversity Advisory Board, we work in partnership with diverse stakeholders to advance inclusion and diversity in science, research and healthcare in developing countries and around the world. Elsevier is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers. www.elsevier.com About RELX RELX is a global provider of information-based analytics and decision tools for professional and business customers. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs more than 33,000 people over 40% of whom are in North America. The shares of RELX PLC, the parent company, are traded on the London, Amsterdam and New York stock exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX. The market capitalisation is approximately £43.2bn/ €50.7bn/ $54.4bn. Contact Details Elsevier David Tucker, Global Communications +44 7920 536160 d.tucker@elsevier.com Company Website https://www.elsevier.com/

June 07, 2022 04:30 AM Eastern Daylight Time

CargoX Blockchain Technology Takes Flight in Egypt

CargoX

LJUBLJANA, SLOVENIA - (June 06, 2022) - CargoX, the leading company specializing in the digital transfer of trade documents, extends its business engagement with the Egyptian government by providing advanced Blockchain Document Transfer (BDT) services as a core component of the Advance Cargo Information (ACI) system implementation for airborne cargo. The Advance Cargo Information (ACI) system aims at providing business intelligence and governance mechanisms to the government before cargo loading from ports of export, facilitating cargo clearance procedures, creating transparency and audit trail for cargo movements within a paperless ecosystem by digitizing shipment documents transfer using CargoX BDT services. The ACI system is a core component of Egypt’s national single-window platform for international trade (NAFEZA) that is operated by the Public-Private-Partnership company Misr Technology Services (MTS). “The NAFEZA single window platform for digitalization of ocean-freight trade document transfers between Egypt and companies worldwide is an unprecedented success. It is used by more than 90,000 companies and entities worldwide, and we continue building this momentum by adding air cargo documentation processing. This will bring the number of points of entries to 30 – including airports, seaports, dry ports, border posts, free zones, and bonded warehouses,” said Captain Ossama Al Sharif, MTS Chairman & CEO. Background information: Misr Technology Services (MTS) authorized CargoX to be the gateway between the international trade community and the Egyptian national single window for international trade (NAFEZA) by providing blockchain-document-transfer services since January 2021. CargoX platform includes built-in automated workflows for Blockchain Document Transfer (BDT) where the ultimate level of immutability, transparency, reliability, and accountability is achieved. CargoX launched its BDT services on a “TRIAL” basis as early as March 2021 to serve seaborne cargo. The services became “LIVE” as of October 2021. Within this context, cargo shippers pre-lodge shipment documents and data electronically in a secure and prompt manner to ensure that import security screening and customs procedures on the Egyptian side can be accomplished prior to shipment arrival to Egyptian seaports. Since its implementation in seaports, the project has surpassed all expectations. CargoX blockchain solution was used seamlessly and safely to transfer more than 1,500,000 actual trade and finance documents to serve more than 100,000 customers. By providing reliable document transfer services, the CargoX Platform has become the fastest-growing blockchain platform in the logistics industry. It represents one of the most compelling cases for the adoption of the blockchain as a critical tool for streamlining global trade and commerce, as well as business-to-government communication. “NAFEZA has become a unified channel for customers exporting to Egypt by sea, and now also by air. The ACI system will expedite shipment clearance, reduce cost, and eliminate the risk of delays or loss of documents. We are proud that Egypt is yet again a global innovator and a key reference for modernization,” said Gamal Kotb, MTS General Manager. In the sea freight use case, the benefits resulting for users from the adoption of the blockchain technology include a reduction in the average cargo release time from 29 days to 9 days with a notable reduction in container demurrage and storage fees. Compliance costs for shippers in the maritime sector have also been slashed from more than USD$600 to USD$165, or less as a consequence of the move onto the blockchain. In air freight, the real-time delivery of documents will play an even more essential role, as cargo travel times are much shorter, and processes run with higher task frequency. “Mr. Stefan Kukman, CEO of CargoX said, “CargoX is proud to be developing the most cutting-edge digital solution for global trade - arguably the most important industry in the world,” “It is incredibly satisfying to already be working with some of the most selective companies in the logistics industry and forward-thinking governments that have made the CargoX Platform the fastest-growing blockchain platform in the logistics industry,” —Kukman added. About CargoX CargoX Ltd is a global company specializing in document transfer solutions, based on blockchain transactions and an ownership validation platform. The core team of founders brings together more than 100 years of experience in the logistics, banking, programming, IT and blockchain industries. Users of CargoX’s BDT platform can upload or create electronic trade documents and then transact ownership of them like money through a global bank, at any time, with the following benefits: ● Irrevocable transfer of ownership of the documents ● Unbreakable, neutral, public Ethereum blockchain ● The audit trail of events is only available to the participants involved ● Confidentiality and full protection of data, identity and business connections ● More than 65 document types are supported (eBL, eLC, Certificates, Contracts, Invoices) Contact Details CHARLIE PESTI —The world’s best publicist for supply chain technologies. Charlie Pesti +1 267-439-4355 charlie@pesti.io Company Website https://cargox.io/

June 06, 2022 10:02 AM Eastern Daylight Time

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