One of the most prestigious startup accelerator programs, Techstars, has accepted the Latvian-based start-up company Kedeon in the 2021 Smart Mobility program. Among several hundred applicants from a total of 54 countries, 12 start-ups have been selected to participate in the program and receive funding of $ 120,000. This opportunity will allow Kedeon not only to continue its development in the Baltics, but also to attract customers from global markets.
Techstars is a global investment and innovation platform that helps start-ups meet investors, corporations, and mentors. To date, a number of companies that have been part of the Techstars portfolio, such as DigitalOcean and SendGrid, have now become so-called “unicorns” – start-ups worth over $ 1 billion.
A total of 12 companies from Italy, the United Kingdom, Israel, Portugal, the United States, and Latvia have embarked on an intensive 3-month program that will meet with mentors, “business sharks”, potential partners, investors, and future clients to develop their idea and business.
Kedeon has been active for about a year, successfully attracting various support and grant programs, such as Blockstart. In this time, the company has developed devices that allow you to monitor conditions at various stages of the cold supply chain, with a particular focus on the final stage of supply – from the trader or warehouse to the customer, or so-called last-mile deliveries. In addition, all collected delivery information is stored in a highly secure, cryptographically protected database that prevents data manipulation and ensures transparency. The company has successfully tested its devices, developing a pilot project in cooperation with several Latvian companies, which has allowed them not only to verify the quality of deliveries but also use the gathered data to define weak points of the supply chain that need improvement.
“In the last year, we have successfully introduced ourselves in the Latvian market, therefore our ambitions are growing, and we see that we are able to provide supply chain monitoring services in a wider market. The work has paid off and we have been selected by Techstars as a promising company, and inviting us to participate in the Smart Mobility program. It is an opportunity not only for us to gain new knowledge, partners, investors and friends, but also to use the Techstars network and expand our operations in other countries, attracting a wider range of customers. Consumer habits are changing during the pandemic and we see increasing growth for grocery deliveries. Also, questions about Covid-19 vaccine delivery is a hot topic right now. We will actively work and use this opportunity to expand our operations at a time when society needs it most,” says Reinis Skorovs, CEO and Founder of Kedeon.
He adds that this year “Kedeon” has also opened an office in Riga, as well as a “Hardware Lab” or a mini-factory, which develops, manufactures, and improves the devices offered by the company with sensor solutions that monitors environmental data during deliveries.
Kedeon, a portfolio company of Techstars, offers state-of-the-art software and sensor equipment solutions for cold supply chain monitoring that help gather important environmental data and optimize various logistics processes. The tools offered allow companies to stand out from the competition by making the supply chain stages more transparent, boosting the confidence and trust of the parties involved in the quality of the delivered products. Kedeon has successfully launched several pilot projects in Latvia, using more than 30 sensor devices operating in the LTE-M network, which ensures the last delivery of the chain link – from the store or warehouse to the customer. Kedeon also cooperates and provides cold chain tracking system solutions to several logistics companies in the Baltics.
For additional information:
Phone: +371 28834287
For media information:
Phone: +371 26364913