Turvo acquires IoT supply chain company Odyn
August 6, 2019
Collaborative logistics firm Turvo has acquired Massachusetts-based supply chain IoT and AI company Odyn to accelerate the integration of connected sensors into its platform.
Through this acquisition, Turvo will expand its IoT and AI capabilities and open a technology centre in Boston, Massachusetts, led by Odyn co-founders Marc Held and Konstantin Klitenik.
"Our platform connects people, businesses and systems, putting us in a unique position to increase the value of IoT in the supply chain," said Matt Jubelirer, CMO of California-based Turvo. "With Odyn we've added the talent and technology to accelerate this opportunity for our customers."
Odyn’s sensor hardware provides item-level visibility and global connectivity with no infrastructure or integration required. Users can simply power-up and attach the device to a shipment or pallet, a turnkey process that eliminates time consuming and costly set-up while providing global reach.
Data from Odyn sensors, combined with relevant public and private data sets, provide detailed visibility and insights, which allow users to increase customer service levels while optimising orders and in-transit inventory. Odyn also shares customer synergy with Turvo and has several Fortune 500 companies actively deploying its technology.
Turvo helps users digitally transform how their supply chains operate with a cloud-based platform that connects and extends existing systems while enabling a seamless way for companies to work together. Odyn's technology should enhance Turvo's platform to provide more detailed end-to-end supply chain transparency.
Because Turvo is an open platform, this will also pave the way for deeper integration with an ecosystem of IoT partners to support a broad spectrum of user needs.
Additionally, Turvo will open a technology centre in Boston focused on IoT, AI and data science to improve the speed to market of new products and services as well as integration efforts with other IoT sensor providers. Held and Klitenik will spearhead this technology centre and expand the team, while overseeing the integration efforts between the two platforms.
"We're thrilled to join Turvo and build out the new innovation centre in Boston," said Held. "This city provides access to an incredible community of talent in the IoT, AI and data science and, by bringing them together with the Turvo platform, we can deliver on a shared vision to create meaningful global impact in supply chains."
The Turvo platform connects people and organisations across the supply chain, allowing shippers, logistics providers and carriers to work together in real time through cloud-based software and mobile applications. The technology extends existing legacy logistics systems, providing end-to-end visibility and one unified data set for all operations and analytics, while eliminating redundant manual tasks and automating workflows.
Turvo is based in the San Francisco Bay Area with offices in Boston and Hyderabad, India.