Combination to create largest global provider of supply chain risk and worker management solutionsAvetta®, the leading provider of supply chain risk management software, announced today it has agreed to acquire Pegasus, a leader in worker competency management software and services.

Based in Newcastle, Australia, its products are used by more than 100 hiring clients, including BHP, Lendlease, and Otis, to manage 3.5 million workers employed by 70,000 suppliers.The combination will help accelerate Avetta’s global growth strategy and is expected to create the largest provider of supply chain risk management and compliance solutions, with nearly 170,000 suppliers and 4 million managed workers.The events of the past year have highlighted that risks to an organization extend into its supply chain and on-site contractors.

In order to ensure safer operations, corporations must ensure these essential workers have sufficient training and accreditation to perform their jobs without injury, and monitor access to hazardous areas and equipment.

The powerful Pegasus online platform has helped manage these trade-specific compliance requirements since its inception in the mining industry in 1987.“Together, Avetta and Pegasus will provide our clients the largest and most complete supply chain risk and worker competency management solution in the world,” said Arshad Matin, Avetta CEO and President.

“The Australian government and businesses have led the way in monitoring contractor safety and compliance programs.

We are excited to add this pioneering software innovator and take those insights and capabilities worldwide.”“Pegasus and Avetta both share a vision to ensure workforces are competent and safe, and risk is being managed, globally,” said Adam Boyle, Pegasus CEO.

New Financing Advances Momentum Towards a Highly Transparent, Frictionless, and Sustainable Digital Supply ChainForto, the leading provider of digitized freight forwarding and supply chain solutions, today announced that it has successfully raised   $240M in an investment round.

The round was led by SoftBank Vision Fund 21, with participation from Citi Ventures and G Squared, and strong backing from existing investors including Northzone, Inven Capital, Cherry Ventures, and Unbound.

With this round, Forto’s valuation now stands at $1.2 Billion.This latest investment validates the market opportunity to shape a more efficient, modern global supply chain.

Forto is leading a new generation of disruptive logistics companies, using its digital platform to simplify interactions, remove process friction, and increase supply chain visibility — in turn empowering customers with better insights to make smarter decisions.

Some of the largest businesses in Europe, including Home 24 and Edeka, rely on Forto with transportation of their goods.“Logistics is the backbone of global commerce, and data analytics, machine learning, and process automation will reshape the global delivery of goods and services,” commented Karol Niewiadomski, senior investor for SoftBank Investment Advisers.

“In our effort to further digitize global trade, we plan to significantly expand our geographical footprint, technology platform, and customer operations, to cement our market leadership in Europe and beyond.”Transparency and Sustainability Across the Supply ChainLuis Valdich, Managing Director of Investing at Citi Ventures, further acknowledged Forto’s mission to enable supply chain visibility across solution offerings.

Fabrinet (NYSE: FN), a leading provider of advanced optical packaging and precision optical, electro-mechanical and electronic manufacturing services (EMS) to original equipment manufacturers of complex products, today announced it was the recipient of the Cisco 2021 EMS Partner of the Year.

Cisco unveiled the award winners at its annual Supplier Appreciation Event (SAE).

The 30th annual SAE was aired virtually for the second year in a row on Cisco TV on September 14, 2021.This award recognizes Fabrinet for displaying well rounded performance and partnership in FY21, in the midst of a challenging operational and commercial climate.“The way we anticipate, navigate and respond to global events that impact our industry will determine how the world builds a more sustainable, more resilient, and more inclusive future,” said Mike Coubrough, senior vice president, Global Manufacturing and Logistics, Cisco.

“Our theme this year, ‘Together Toward Tomorrow’ highlights the criticality of our extended partner and supplier network.

Despite the tremendous challenges we faced this past year, we have collectively remained focused on our shared goals.

Together with our valued partners, we look forward to continuing to help our customers reimagine their applications, power hybrid work, transform their infrastructure and secure their enterprise.”At the event, Cisco celebrated the collective achievements and contributions of its most strategic supply chain partners, and recognized the suppliers and partners that executed exceptionally well across the supply chain.For more such updates and perspectives around Digital Innovation, IoT, Data Infrastructure, AI & Cybersecurity, go to AI-Techpark.com.

Overhaul, the industry’s first and only software-based, supply-chain visibility, integrity, and security solution for the world’s leading brands, announced its $35 million Series B funding today.

The current round is led by Macquarie Capital, with participation from Edison Partners and Avanta Ventures (venture arm of CSAA Insurance Group).

Overhaul will use the investment to accelerate its roadmap in continuing to optimize its current category-creating products.Founded in 2016, Overhaul has grown to be a trusted provider of supply-chain technology for Fortune 100 companies that move freight globally for various industries, including pharmaceutical and healthcare, technology, logistics, and food and beverage, having covered billions of dollars in cargo in the last few years.

In 2020, the company announced a $17.5 million Series A growth equity investment, led by Edison Partners, which laid the groundwork to triple its success from the previous year, despite the pandemic.

Combined with earlier rounds, the funding led by Macquarie Capital Principal Finance brings Overhaul’s total funding to $55 million.“Partnering with Macquarie Capital — a world-leading principal investor and advisor — solidifies our position as a leader in supply-chain technology solutions,” said Barry Conlon, CEO and founder of Overhaul.

“Macquarie will enable us to significantly grow our global footprint with an innovative partner who shares our vision for supply-chain digital transformation, which is precisely why we chose them as our investment partner.”Focused on innovating a $19 billion global supply-chain market, Overhaul plans to optimize the supply- chain industry with transformative software solutions that will provide visibility and security in a post-pandemic era.

Locus, a future-ready platform that automates supply chain decisions, today announced that it has designated $4 million for its ESOP buyback.

The buyback is at par with the primary of the Series C fundraise.

Both current and former employees will be able to vest their stock options.

This is the second such buyback by the company.“The reason we’ve come this far is because of the hard work and perseverance of our teammates.

This ESOP buyback is a way of showing our gratitude by helping them in their wealth creation journey.

Our buyback will happen at the Series C price without any discount, unlike most buybacks,” said Nishith Rastogi, CEO, Locus.

Honeywell mobile computers and software are providing Castellini Company with increased accuracy, scanning range, and clarity in communications to enhance workforce productivityProduce wholesale and distribution giant is continuing its digital transformation journey to maximize efficiency and operational visibility through technologyHoneywell (Nasdaq: HON) announced today that one of the largest suppliers of fresh and frozen produce and fruit in the Midwest has deployed the company’s mobile computers, tablets and software to help its mobile workers pick, pack and ship perishables.The Castellini Company, one of the oldest produce companies in the country, has deployed Honeywell’s CK65 and CT40 mobile computers, its VM1 vehicle-mounted computers and RT10 tablets.

These portable devices are all based on Honeywell’s Mobility Edge platform, which is designed to extend asset life, accelerate deployment and simplify management of mobility solutions.Castellini will use Honeywell’s Operational Intelligence Professional software, a centralized cloud-based platform that enables it to keep track of its new devices, manage their operational status and reduce unplanned downtime to give customers an even more trusted, reliable service.

Honeywell will provide on-demand support to the Castellini Company, serving as a single point of contact for ongoing mobility device management and help desk support.“To keep up with customer demand and a rapidly-changing environment, we were looking to use the latest technology to keep our mobile workers productive,” said Brian Kocher, president and CEO of the Castellini Group of Companies, which transports perishables to some of the largest retail grocery chains, food service distributors and home delivery services in the United States.

Mobile computers are critical tools used by operations and mobile workers to allow for faster, smarter and more effective work.

With these devices, workers can access to operational data through barcode scanning, complete picking and packing operations through voice-guided solutions and communicate with other workers to ensure tasks are complete.“From the store back into the food supply chain, customer experience expectations coupled with new food preferences have made food supply chain efficiency more important than ever before,” said Kevin Dehoff, president of Honeywell’s Productivity Solutions and Services business.

“Honeywell’s mobile computers and software provide distributors like the Castellini Company tools to connect with each other and view real-time enterprise information to work faster, smarter and more efficiently.”The Castellini Company’s distribution centers provide next-day delivery and distribution center replenishment.