DENVER, April 11, 2017 — Bext360, a technology company that develops technologies to streamline critical supply chains in emerging economies, today announced that it is launching out of stealth with its first product, along with its “Bext-to-Brew” platform. This platform uses blockchain, artificial intelligence, and IoT to revolutionize the coffee supply chain and bring more equity to coffee farmers. “Bext360 is transforming the coffee supply chain, while bringing consumers and farming communities together to improve product quality, community livelihoods, and the consumer coffee experience,” said Bext360 CEO Daniel Jones.
Additionally, the company announced this week that it has secured $1.2M in funding, led by SKS Venture Partners. “Bext360 hit a number of our investment criteria,” says SKS founding partner, D. Mark Spencer. “What excites us is that Bext360 bridges the gap between a coffee farmer and your morning cup of coffee. Knowing the farmer receives a fair payment on the spot through their smartphone based on volume and quality of beans is exciting technology.”
Bext360 develops technologies that strengthen local businesses and communities in emerging economies by increasing access to capital and streamlining supply chains. Bext360 technology builds upon the fundamental shift in mobile access, microfinance, and mobile/digital payments in developing countries.
About the Coffee Industry
Coffee production employs 25 million people directly and supports 100 million people indirectly worldwide. Coffee companies like Starbucks, Nestle, Dunkin’ Donuts, and Krispy Kreme have increased investment in supply chain transparency.