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 costs.
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."