Working Capital is delighted to announce its investment in OpenSC’s $4 million round of seed funding. OpenSC is an impact venture that uses advanced technology to enable more sustainable, ethical, and profitable supply chains. The OpenSC platform allows companies to verify claims about sustainable and ethical production, trace products throughout supply chains using IoT (Internet of Things) and blockchain technology; and share information with consumers to promote the purchase of more responsible products. OpenSC was co-founded by WWF-Australia (the World Wide Fund for Nature) and BCG Digital Ventures.
OpenSC is a perfect addition to Working Capital’s global portfolio of leading startups that we believe will drive positive change, promote responsible business practices, and improve the lives and well-being of millions of vulnerable workers who produce the goods we use and consume every day. The complexity and opacity of global supply chains can allow forced labor and human exploitation to happen unseen by corporations, and tools like OpenSC can shine some much-needed light.
Read the full press release here.
Learn more about OpenSC’s seed funding here, and read about their recently-announced partnership with Nestlé here.