Lineage Logistics and 8VC, the Austin, Texas-based logistics technology venture capital firm, have formalized a longstanding strategic alliance to invest in and “revolutionize the transportation and logistics technology sector,” according to a jointly issued press release.
The two companies have successfully collaborated and co-invested in numerous enterprises over 8VC’s past three funds and grown their relationship by integrating portfolio companies across the Lineage platform. Via Lineage Ventures, the Novi, Michigan-headquartered temperature controlled warehousing firm’s technology investment arm, Lineage and 8VC have catapulted start-ups including Project44, Trackonomy and Baton to success in the transportation and logistics space.
One of 8VC’s differentiating factors is its ecosystem of advisors and partners in the logistics and supply chain sector. Lineage brings another dimension to this as it is a leader in size, scale and technology capability. The company helps provide deep, real-time insight into the market and represents billions of dollars in purchasing power. The strategic alliance builds on their existing partnership by aligning to a vision to accelerate the pace of innovation in the supply chain.
With Lineage Ventures becoming a limited partnership in 8VC’s most recent fund, both companies plan to increase their joint investments in cutting-edge supply chain technology start-ups, as well as support existing companies in their respective portfolios by leveraging their combined network effect and relationships. They also plan to co-develop technology together, including productizing some of Lineage’s most promising intellectual property.
“As Lineage has grown, so has its commitment to use technology and partner with the best technology companies to help eliminate waste in the supply chain and support customer growth, making them one of the most impressive and forward-thinking companies I have come across in my career,” said 8VC Co-founder and Partner Jake Medwell. “We have so much more to build and are exponentially more powerful working together. I am honored to call them a partner.”
Lineage Chief Information Officer Sudarsan Thattai added: “Our vision is to be the world’s most dynamic temperature-controlled logistics company, so it is natural for us to unite with 8VC, whose mission is to partner with top founders and entrepreneurs to build lasting technology platforms and create long-term economic and societal value. This industry-first partnership aims to redefine enterprise technology in the temperature-controlled logistics sector. We aspire to create new products across automation, digital brokerage, supply chain visibility and planning, as well as industrial hardware/software that drives better customer experience.”
As part of the alliance, Medwell will be joining Lineage as an advisor, and Thattai will be joining 8VC as an advisor. These co-advisory roles are intended to deepen collaboration within this large and complex ecosystem.
Medwell will bring to bear longstanding relationships and partnerships with Schneider National, Daimler, Koch Industries and others. In addition, he draws on a carefully curated and trusted advisory board which includes: Chris Sultemeier, former chief executive officer of Walmart Logistics; Alan Gershenhorn, former chief commercial officer of UPS; Andrew Clarke, former chief financial officer of C.H. Robinson Worldwide; Shaleen Devgun, chief information officer of Schneider National Inc.; and Michael McLary, former president of T.L. Brokerage at Amazon.
About the Companies
Lineage Logistics operates a global network of over 340 strategically located refrigerated warehouses offering 2 billion cubic feet of capacity in 15 countries across North and South America, Europe, and the Asia-Pacific region.
Managing approximately $3.6 billion in committed capital, 8VC’a partners have a proven track-record as founders, engineers, and operators of successful companies including Palantir, Addepar, Affinity and OpenGov. Founded in 2012, it invests primarily in smart enterprise platforms across industries including financial services and healthcare in addition to logistics and others.
