We’ve previously written about NTT Data‘s blockchain trade solution, TradeWaltz, which it started to work on in 2017. Today it announced that itself and six other firms have invested in the company. The firm now has capital and reserves to the tune of Yen 2.1 billion ($20 million), implying a financing figure above that.
The investors include three sogo shosha or trade companies, Mitsubishi Corp, Toyota Tsusho and Kanematsu. Plus there’s MUFG bank and insurers Tokio Marine & Nichido Fire and Sompo. However, there were 18 firms involved before incorporation.
The digital trade platform is a cross-industry solution that aims to digitize trade documents by creating structured documents, not just by storing pdfs. The plan is to use that data for greater automation and to create new opportunities.
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