Los Angeles startup 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 plan-o-gram levels to meet customer demand across all sales channels, thereby limiting excess inventory, optimizing manufacturing planning, eliminating lost sales and reducing carrying costs.
“We are excited to share our vision, market strategy and business trajectory at the Red Herring North America Forum,” said Pratik Soni, co-founder and CEO, Omnichain. “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.”
The Top 100 winners will be announced at a special awards ceremony on the evening of June 20 at the event.
About Omnichain Solutions
Co-founded by global supply chain expert Pratik Soni and software innovator Ray Young in 2018, Los Angeles-based Omnichain Solutions (Omnichain) provides and implements intelligent, end-to-end supply chain technology solutions. Its demand-driven, Software-as-a-Service (SaaS) platform delivers real-time transparency, trust and efficiency from source to shelf using blockchain technology. The holistic platform simplifies store-level forecasting and replenishment, optimizes manufacturing planning, eliminates lost sales, and reduces carrying costs, while driving supply chain transparency, accuracy and accountability. With its first-to-market solution, the company holds the U.S. patent for planogram, store- and SKU-level forecasting and replenishment. For more information, visit www.omnichains.com.
Media Contact:
Edward Lin
(240) 686-1000
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