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The Funding: Why VCs are so bullish on the TON token

Last week, I broke the scoop that Pantera Capital was raising money for a second investment in the TON
+1.68%
token, shortly after making its largest investment in its 21-year history in the token earlier this year. Upon further investigation, I found out Pantera Capital wasn’t alone in this.

Kingsway Capital’s biggest token holding to date is also the TON token, its founder and CEO Manuel Stotz revealed to me (not previously reported). Kingsway started buying the TON token well before Pantera, over two years ago, Stotz said.

Ryze Labs, formerly Sino Global Capital, is also heavily invested in the TON token. Its founding and managing partner, Matthew Graham, disclosed to me (again, not previously reported) that Ryze has been a “large buyer” of the TON token “for some time now.”

Animoca Brands started buying the TON token when it was valued below $1, its co-founder and executive chairman Yat Siu told me. The firm then kept buying the token at $1, at $1.50, and at $2, Siu said. TON is currently trading at around $7.65 and has become the ninth-largest cryptocurrency by market cap. Animoca is also the largest validator on The Open Network, or the TON blockchain, Siu said.

These investors are drawn to the TON token mainly because of the TON blockchain’s unique and exclusive integration with Telegram, the messaging app giant with nearly 900 million monthly active users. “The TON token, to me, is a distribution play,” Siu said.

As a game developer and publisher, Animoca sees the TON blockchain’s integration with Telegram as a tool to onboard hundreds of millions of users to web3 and eventually a billion people, Siu said. Some recent games like Notcoin and Hamster Kombat, built on the TON blockchain and accessible through Telegram as mini-apps, have found strong uptake.

Galaxy Ventures’ General Partner Will Nuelle also expressed bullish sentiments on the TON token long-term, citing its potential to facilitate payments among a massive user base and future financial applications through the Telegram app.

Nuelle said the TON network, with its “massive built-in distribution,” is a “great candidate” to develop Layer 1 network effects, driving overall interest in the TON token. When asked if Galaxy Ventures has invested in the TON token, Nuelle said, “Galaxy is generally involved with major ecosystems across a myriad of its business lines.”

Ryze Labs’ Graham said the TON network’s evolution towards a WeChat-like ecosystem of mini-apps, combined with crypto features, presents a substantial opportunity. He noted that recent developments, such as the use of the TON token for ad payments, creator payouts, and in-app USDT stablecoin peer-to-peer transactions, have led to further growth.

Graham claimed that TON and Solana could challenge Ethereum’s dominance in the future. However, he acknowledged the TON ecosystem is still in its early stages, with many core primitives yet to be developed. Plus, the available development tools, frameworks, and libraries are not as robust as those of more established blockchains, he said.

Nuelle also pointed out a key concern for the TON network: it is too opaque. He said he would encourage developers to continue building out its block explorer and on-chain data providers and capabilities.

Fueled by Telegram’s massive user base and substantial investor backing, the TON token has reached an $18.8 billion market cap. With such a high valuation for quite a nascent ecosystem, the token certainly has high expectations to meet.

‘The single biggest risk of TON’

The success of the TON network and its token is largely dependent on Telegram. While Telegram’s massive user base is seen as its biggest advantage, according to Animoca’s Siu, this dependency also presents a risk.

Telegram relies on distribution through Apple and Google. These tech giants could potentially disapprove of Telegram’s integration with the TON network and its token, which Siu identifies as “the single biggest risk from a system standpoint.”

Additionally, Siu added that there is the risk of regulatory scrutiny on the growing TON network and its token.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

Baird Capital promotes Louise Kingston to partner

Previously, she worked at Livingbridge as an investment director
Baird Capital is an investment firm
The firm is based in Chicago

Baird Capital has elevated Louise Kingston to partner level.

Kingston joined Baird Capital in London as a director in January 2022. She is part of the global portfolio operations team focused on working with Baird’s investment and management teams to design and deliver growth strategies that maximise value creation.

Kingston leads Baird Capital’s internal data projects, which involve synergising reporting processes and managing data. She is directly involved with portfolio companies Aura, ecube and JMAN, as well as the recent exit of CAV Systems.

“I think if more people understood what we do and the breadth of roles in and around PE, then it would be much more appealing to a broader range of people,” Kingston told PE Hub Europe in 2023 as part of our Women in PE series.

Previously, she spent eight years at mid-market private equity firm Livingbridge, where she was an investment director.

Chicago, Illinois-based Baird Capital is an investment firm that makes venture capital, growth equity and private equity investments.

US Venture Capital Markets Affected by Relatively high Inflation and Interest rates in H1 2024

PitchBook released their US Venture Capital Outlook in a comprehensive Midyear Update. In a recent update, the research-focused company noted that expectations for the turnaround of the VC market in 2024 were not particularly high.

PitchBook noted that the headwinds which triggered the market downturn were “well-entrenched in the economic system, and that no balance had been found to offset heightened risks.”

PitchBook stated that during the first six-months of 2024, inflation remained “sticky, interest rates stayed at the high levels they ended 2023 with and geopolitical issues kept a haze over the horizon.”

PitchBook’s extensive update revealed that ventures have been slow, as expected. Overall, “exits have been poor despite several high visibility IPOs.”

The first quarter of 2018 was one of the slowest since 2017. Q2 has also been a struggle, despite several big-name VCs raising billions of dollars.

Dealmaking is heavily reliant on AI. It continues to “make headlines with its high valuations and large transactions.”

The PitchBook analysts noted that “more than 55,00 companies are currently VC-backed” and many companies have no other options to continue their growth and development.

The report also stated that many of the M&A transactions they collected in 2024 were so small, “that transaction values went unreported.”

As companies negotiate with investors, down rounds are increasing.

Venture market resets can take a long time.

According to the PitchBook Update, valuations are still relatively high, particularly “for AI companies and the aggregate value for unicorns is higher than before.”

The lack of returns is one of the effects of “the slowdown that is now adding excessive pressure on the market.”

PitchBook data shows the rate of distribution “back to LPs” is at its lowest level since 2009.

The market is “exponentially larger than it was then, increasing the exposure of LPs to VC.” With fewer returns, and less capital to recycle back into the market, “the full impact of the downturn may still be ahead.”

As mentioned in the Update, the Federal Reserve has not raised rates since July 2023. “This reinforces expectations that the central banks current cycle of rate increases has ended.”

Researchers observed:

The Global Supply Chain Pressure Index shows that there is a correlation between supply chains and inflation. The Global Supply Chain Pressure Index shows a correlation between supply chain pressure and inflation. As of October 2023 the index has dropped significantly from its highest peak in December 2021 .”

You added:

The Cboe Volatility Index, also known as Wall Street’s fear gauge, shows that market volatility is on a downward trajectory. The VIX is currently at 13, well below its long-term average of 18 and much lower than the peaks seen over the last 18 months, such as the 37.52 in March 2022 .”

PitchBook stated that lower volatility on the investor’s side “reduces perceived risks associated with IPO investment by minimizing concerns over sudden and adverse market fluctuations, thus potentially encouraging more participation.”

PitchBook said that it was “difficult to say the IPO markets have reopened, or even to call H1 activity a slight opening window.”

Four large tech IPOs have been completed, “for an exit value of about $17 billion. But four is a very small number.”

Only 22 companies had completed IPOs by May (at the writing of this article), so the question to ask is “why?”

Inflation has remained “above Fed’s 2% goal.”

This has sunk the “idea that a large number of rate reductions this year would, theoretically boost the market.”

Now, the expectation of the number cuts has been “lowered and pushed back.”

Researchers also shared:

Public listings generated above 15.4% of the annual public exits in 2021 but dropped to 5.8% and 8.4% in 2022 and 2023 YTD, respectively, as public market investors shied away from riskier tech bets. Public listings accounted for over 15.4% of all public exits annually in 2021, but this number dropped to 5.8% in 2022, and 8.4% by 2023 YTD as investors shied away from more risky tech bets .”

Seaya closes €300 million climate-tech fund, Southern Europe’s biggest investment vehicle for impact-driven companies

Seaya has closed Seaya Andromeda, the first Article 9 climate-tech fund based in Southern Europe, at €300 million. LPs in the new fund include Iberdrola, Nortia, Santander, BNP Paribas Group, Next Tech Fund, Bpifrance and brings Seaya platform’s total AUM to over €650 million, making the firm the largest VC investor in Spain.

Seaya, with twelve years of experience in climate tech, has set up ‘Andromeda’ to invest in impact-driven growth companies specialized in energy transition, decarbonization, sustainable food value chain, and circular economy. The fund only invests in companies that promote a sustainable society by reducing waste and pollution. The fund subscribes to SFDR’s Article 9, which ensures that all investments the firm makes have a positive impact on society or the environment.

The firm has already made its first five investments from the fund into a range of impact technology companies, including Recycleye an AI-driven robot which sorts recyclable waste, and 011h, an environmentally friendly construction firm which reduces building-site CO2 emissions by 75 per cent.

Seaya’s new fund will invest anywhere between €7-40 million as a first cheque, and will retain capital for follow-ons. It plans to make 25 investments in total between now and the end of 2027, including around five more deals this year.

Seaya is one of few female-founded venture capital firms in Europe, launched in 2013 by former private equity investor Beatriz González. Across Europe, only 15% of ‘decision makers’ are women. González made her first sustainability-focused investment in 2012, backing Ecoalf, a sustainable and recycled clothing line. Seaya Ventures went on to invest in seven more startups in this space including Clarity.ai, Biome Makers, RatedPower, Samara, Crowdfarming, Descartes and Wallbox (which went public on the New York Stock Exchange in 2021).

Beatriz González, Founder and Managing Partner of Seaya, said: “From day one we were focused on impact and climate. We have a strong technological background in this space. We started in 2012 backing climate tech companies and have successfully guided three of them right through to exit. We have 12 years of experience in this space and we can bring this knowledge and expertise to founders through this specialized vehicle.”

By investing at Series B+ stage in British, Danish and US companies, as well as in Spanish ones, Seaya has drawn on its experience in the global expansion of portfolio companies such as unicorns Glovo, Cabify and Wallbox and companies such as RatedPower, Alma, Descartes. One of its other attractions for entrepreneurs is its extensive network of founders, investors and multinational corporations.

Carlos Fisch, partner at Seaya, commented: “In addition to investors that can provide capital, there is a need for experienced investors with a proven track record who can support startups navigating the growth challenges in this space. Since we started investing, we have backed 12 climate tech companies and have successfully exited three of them: Wallbox, RatedPower and Ecoalf”

Pablo Pedrejón, partner at Seaya, added: “Deep-tech climate entrepreneurs face a unique set of challenges compared to software-tech entrepreneurs. Climate-tech companies must translate research into a working product, bring it to market, and then scale it. This long journey requires different kinds of support than what is typically provided to software startups. This is why there is a need for Series B and B+ investors that help climate tech startups bridge the ‘valley of death’ – the gap from initial development to deployment at scale.”

Conn. Project to Revamp Congested Interchange Gains Traction

FHWA Administrator Shailen Bhatt addresses attendees at the kickoff to phase two of the interchange upgrade project. (Office of Gov. Ned Lamont via Facebook)

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The second phase of a $500 million reconfiguration of interstates 91 and 691 in Connecticut commenced on a congested freight route two hours from Boston and New York.

“Reconfiguring this highway to improve safety and traffic flow is directly connected with our ability to encourage businesses to locate, expand and grow jobs in the region because it serves as a critical link for passengers and freight connecting critical corridors between New York and Massachusetts,” Connecticut Gov. Ned Lamont said recently.

He thanked the Biden administration, the Federal Highway Administration, Connecticut’s congressional delegation and state legislators for their support and providing the funding “to get shovels in the ground and make this much-needed project a reality.”

Government officials gathered in Meriden, where the busy interchange connects I-91, I-691 and Connecticut Route 15. The location between Hartford and New Haven is about two hours between New York and Boston, which make it a central point for trucking East Coast freight. Lamont referred to the interchange as consistently among the most congested and dangerous highway sections in the state.

Today, the BILT team was proud to attend the groundbreaking ceremonies for the reconfiguration of the highway interchange connecting I-91, I-691, and Route 15 in Meriden. Learn more about the project from @CTDOTOfficial: https://t.co/z6XmTgvijJ pic.twitter.com/wIpQRLNSXE

— CTBILT (@ctbilt) June 11, 2024

FHWA Administrator Shailen Bhatt expressed the federal government’s commitment “to getting things done for the American people, creating opportunities that improve safety and quality of life and making sure federal dollars are helping to modernize our transportation infrastructure all over the country.”

All three highways converge in a complex system consisting of through lanes, weaving road sections and ramp connections at the I-91/I-691/Route 15 interchange, which provides a critical freight route in the Northeast regional transportation network. It also connects the I-84 and I-91 corridors between the state and southern New York to northern Massachusetts and beyond.

According to the Connecticut Statewide Freight Plan Update in December 2022, I-95 (from the New York/Connecticut border to New Haven and between New Haven/Hartford) carries the largest truck volumes.

The project calls for adding bridges and culverts, building/rehabilitating culverts, widening traffic lanes, upgrading barriers/guardrails, improving highway lighting, replacing existing signs, repaving all three thoroughfares and mitigating noise. Not only will the reconfiguration improve traffic flows, it also is meant to reduce crashes to increase safer, more efficient travel.

“We’re going to fix the interchange to reduce congestion and improve safety for generations,” noted state Transportation Commissioner Garrett Eucalitto, adding that the spot is a “painstaking” bottleneck for Connecticut travelers.

Second Phase

What will the second stage of the interchange upgrade entail?

Adding a new two-lane exit ramp from Route 15 northbound to I-91 northbound to reduce traffic congestion on the Exit 68 north-east ramp.
Closing the existing Exit 17 ramp from I-91 northbound to Route 15 northbound and rerouting traffic to Exit 16 to provide a two-lane exit ramp with a right-side traffic merge onto Route 15 northbound.
Widening the existing Exit 68 west ramp from Route 15 northbound to I-691 westbound to two lanes.
Reconfiguring acceleration and deceleration lanes to provide adequate traffic weaving distances.

Connecticut is paying the full $80 million price tag for the first construction phase, which started in October and is expected to be completed within a year. Projected to be finished by November 2028, the second phase is supported by $50 million in state funding and $200 million in federal funding from the bipartisan infrastructure law.

The final $170 million phase, anticipated to start next year, is expected to be funded by state and federal dollars. It will lower congestion by adding a two-lane exit ramp from Route 15 southbound to I-91 southbound on the Exit 67 ramp, and by creating a two-lane I-91 southbound ramp to Route 15 southbound on the Exit 17 ramp. Ramps will also be widened to two lanes from I-691 eastbound to Route 15 southbound (Exit 10) and by two lanes from I-91 southbound to I-691 westbound (Exit 18).

To reconfigure the outdated highway corridor, the Connecticut Department of Transportation is eliminating dangerous points, correcting roadway geometry and adding multilane exits. Upon completion in 2030, the area will have more and better bridges plus extra travel lanes to improve traffic flows.

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HopSkip Raises $3M to Expand SaaS Platform for Events Booking

Sean Whalin

HopSkip, a Philadelphia startup running a SaaS platform to match event planners with hotels, has raised $3 million from Palo Alto, Calif.-based Conductive Ventures in a seed funding round.

The startup was co-founded in 2019 by CEO Sean Whalin, his brother Luke, who serves as an executive vice president, and chief technology officer Greg Leizerowicz. Sean previously worked at Comcast, while his brother was an executive at Toshiba. Leizerowicz came from Neudesic, a services firm that is now part of IBM.

“We decided to fund-raise to triple down on our beliefs and conviction of our platform solving a real problem and wanting to continue innovating and empowering our customers,” Sean Whalin told Technical.ly, after the bootstrapped startup closed its first funding round. HopSkip was a runner-up on Technical.ly’s RealLIST Startups list in 2020.

Soon after its founding, Hopskip was hit hard by the Covid-19 pandemic, as in-person gatherings and hotel bookings came to a grinding halt. It has since bounced back. Today, it has more than 1,000 event planners and about 150,000 hotels, including Marriott, Hyatt and Hilton, on its platform.

HopSkip reportedly has crossed a million dollars in annual recurring revenue, as its business tripled in successive years. Whalin expects to enjoy similar growth for the “foreseeable future” on account of tailwinds.

According to the Business Journal, corporate event planners pay between $1,200 and $1,800 annually for membership, while hotels enjoy free membership, with the option to pay $4,000 a year for advanced features. Currently, event planners on HopSkip can issue requests for proposals to host corporate gatherings, and their event planning counterparts at hotels can then use the platform to submit a proposal to host the events, the Journal said.

Whalin plans to use the funding to expand into the Asia-Pacific region and add sales and engineering staff. Currently, Hopskip has 10 employees.

UK manufacturers embrace AI to boost cybersecurity

The UK’s economic growth and competitive lead depend on how well manufacturing sectors can embrace the power of AI for cyber defence.

UK manufacturing is in an ideal position to ride the wave of AI-driven digital transformation and reap rewards. As we enter this new era, the harmonious integration of AI into manufacturing leadership can help achieve major goals – optimise operations, minimise costs, prioritise sustainability and respond to fluctuations and demand with agility and resilience.

However, no conversation about AI advancement should be had without addressing the current environment. One that comes with increased risks, further amplified by increasingly sophisticated technology and adoption of digital tools and cyber-attacks are an example of such risks. What does this mean for manufacturing?

The UK manufacturing sector is impactful on the UK economy and there’s a lot at stake if this impact is unprotected. Manufacturing accounts for 9.3% of the total economic output of the country and 8.1% of employment. This means that as UK manufacturers adopt AI to strengthen their cybersecurity programs, they also have the opportunity to boost their resilience, to protect the economy and strengthen the UK as a leader in AI and cybersecurity.

A time of consistency alongside change

The basic aims of optimal manufacturing remain unchanged – manufacturers need to adapt to the current market environment, look at their existing technology investments and quickly identify areas where they can minimise costs while maintaining production levels and sustainability commitments. However, manufacturers are also working in a sector under transformation against the backdrop of political, economic and technological uncertainty.

Rapid technological transformation advances and reengineers supply chains, making them more resilient. We can see this through the use of AI, IoT and data that is enabling intelligent factories. We can also see this through the innovation and new real-time digital tools and products that are being unlocked.

Dynamic instability

This transformation is happening amidst an uncertain environment. Economic uncertainty, inflation, rising energy prices and labour shortages are disrupting operations and forcing companies to change their business models. Political and geopolitical uncertainty is present as the UK general election looms, and other geopolitical fluctuations around the world disrupt supply chains and reduce visibility for manufacturing businesses.

A major concern is cyber uncertainty where manufacturing companies need to have the risk of business cyberattacks on their radar.

The power of AI when boosting cybersecurity

As we see a rise in the use of AI by manufacturing businesses, we also see a rise in the risk of cyber-attacks. What’s interesting about this is AI is also powerful technology that can boost cybersecurity. Manufacturing companies are recognising the benefits of AI tools, such as Microsoft Copilot for Security, to gain a competitive advantage and to strengthen their cybersecurity defenses. In the UK, it’s a priority to increase the number of manufacturing organisations that are resilient to AI-enabled cyber threats. The nation’s long-term growth and competitiveness depend on it.

What does cyber protection look like for manufacturing?

Cybersecurity should be prioritised as cyber threats are expected. AI has the power to reinforce teams’ expertise in cybersecurity, Microsoft Copilot for Security is tailor-made to address these challenges. AI can plan and simulate attack scenarios as well as detect cyber threats to prevent or minimise the probability of a cyber-attack. AI can also set up clear protocols in case of an attack. If attacks do happen, AI allows teams to understand the scope and means of an attack in order to quickly address and resolve a threat or minimize damage.

AI is integral to resilience across manufacturing

Manufacturing companies must make cybersecurity a core business priority and commit to adopting AI across supply lines to ensure long-term resilience. The application of AI across product refinement may already be obvious. AI-driven cost optimisation, predictive maintenance, machine optimisation, product optimisation and loop of real-time production insights back to design and engineering all make sense. Companies must also focus investments on cybersecurity to stay competitive and drive growth. AI is evolving quickly and so is the sophistication of attacks. Manufacturing businesses must stay abreast of the quickly evolving AI and cybersecurity markets by leveraging knowledge sharing and focusing on open-source research breakthrough, to collaboratively drive resilience in the industry and in the UK.

Going into the future with sophisticated AI and cyber defenses

The UK manufacturing industry is unlocking innovation with the help of AI and maintaining what has always been prioritised: reducing costs without sacrificing product quality and function. Further, manufacturing optimisation is no longer just about cost reduction and product quality, we now have sustainability and carbon footprint impacting business models and this has become a crucial factor influencing consumer choice that trickles down to manufacturing decisions.

AI is essential for lean, agile, automated, and sustainable manufacturing with an empowered workforce. However, security of your IP, machines, and data are crucial and must be protected. Tailored responses to these needs – such as the Microsoft Copilot for Security – bring the right guidance to address some of the most pressing security challenges.

Learn more about how manufacturing and your business can launch into the future with adequate cyber defenses by reading our latest research report.

Microsoft Delays AI-Powered Recall Feature for Copilot+ PCs Amid Security Concerns

Jun 14, 2024NewsroomArtificial Intelligence / Data Protection

Microsoft on Thursday revealed that it’s delaying the rollout of the controversial artificial intelligence (AI)-powered Recall feature for Copilot+ PCs.

To that end, the company said it intends to shift from general availability to a preview available first in the Windows Insider Program (WIP) in the coming weeks.

“We are adjusting the release model for Recall to leverage the expertise of the Windows Insider community to ensure the experience meets our high standards for quality and security,” it said in an update.

“This decision is rooted in our commitment to providing a trusted, secure and robust experience for all customers and to seek additional feedback prior to making the feature available to all Copilot+ PC users.”

First unveiled last month, Recall was originally slated for a broad release on June 18, 2024, but has since waded into controversial waters after it was widely panned as a privacy and security risk and an alluring target for threat actors looking to steal sensitive information.

The feature is designed to screenshot everything users do on their PCs and turn them into a searchable database using an on-device AI model.

Windows Central also reported that Microsoft was “overly secretive” about Windows Recall during development and chose not to test it publicly as part of the Windows Insider Program.

The backlash prompted Redmond to make Recall an opt-in feature, in addition to making a slew of other security changes that require users to authenticate via Windows Hello in order to view the content.

It also reiterated that the feature is further protected by “just in time” decryption that ensures the snapshots are only decrypted and made accessible when the user authenticates using their biometrics or a PIN.

The delay follows Microsoft President Brad Smith’s testimony to Congress during a House Committee on Homeland Security hearing about the tech giant’s security lapses in recent years following high-profile breaches by Chinese and Russian state hackers.

Smith, in his written testimony, said Microsoft would commit to prioritizing security issues and that it’s “more important even than the company’s work on artificial intelligence.”

If anything, the move highlights the growing scrutiny and caution surrounding the deployment of AI capabilities, as companies increasingly grapple with balancing innovation and driving responsible and trustworthy use of the technology.

The development comes days after Apple unveiled a new methodology called Private Cloud Compute (PCC) that aims to perform AI processing tasks on the cloud in a privacy-preserving manner.

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Crossover Markets Raises 12 Million Dollars Series A Funding Round, Led by Illuminate and DRW Venture Capital

Crossover will use proceeds to expand their role as the leading ECN for digital assets and provide

LONDON, JUNE 26, 2024 /PRNewswire/ – Cross Illuminate & DRW VC are joining a growing group of strategic

This fundraise is taking place at a time of change in the institutional market structure for “Prime brokerage models and central clearing are evolving, creating fungibility. This exposes We are proud to welcome strategic investors who share our vision to create the leading execution-only trading Illuminate brings a wealth of institutional knowledge, and DRW, as one

“Illuminate Financial is building out a portfolio since 2019 of institutional grade digital asset “Crossover is a best-in class execution capability that will serve both the

“DRW VC is a proven leader in supporting early-stage companies that are committed

Crossover has also announced the additions of two new board members. Kevin Wolf, former CEO

Mulvihill said, “Digital asset market structure is undergoing We are also witnessing the emergence of early-stage discussions about 24/7 trading across traditional asset CROSSx was designed to be one of the fastest and most efficient venues in any asset We developed the platform in order to bring 24/7 trading, size precision, and price precision to traditional When we thought about expanding our Board, we were most concerned with strengthening governance and broadening Mark and Kevin have a wealth experience in equities and fixed income, as well “We are thrilled to welcome Mark and Kevin as dynamic leaders to Crossover.”

Crossover Markets’ electronic communication network (ECN) is known for its execution only, Crossover Markets’ ultra-low latency and quote-driven match technology, combined with

Crossover Markets recently reported HTML Crossover Markets plans to continue investing in its team and its technology.

Crossover Markets

Crossover Markets, a digital asset trading and technology firm, focuses on meeting the CROSSx is the company’s cryptocurrency Electronic Communication Network Crossover’s team of experts in FX trading, prime broker technology, and artificial intelligence For more information, visit www.crossovermarkets.com.

Media ContactForefront Communications For Crossover[email]+44 (0) 73

SOURCE Crossover Markets

Perspective: How Refrigerated trucking Delivers for Summer

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During the summer months, consumers buy more fresh produce and flowers. The logistics industry takes steps to transport these goods safely and efficiently.

These delicate and perishable products require special handling to ensure that they arrive fresh and in perfect condition. Many of these products travel long distances before they reach their destination and may even be imported. According the National Center for Appropriate Technologies, an average fruit or vegetable travels 1,500 miles to reach a table.

For retailers, a successful summer season means selecting carriers equipped with temperature-controlled solutions and cold chain management experience to preserve the freshness of these goods throughout their transportation journey.

Key Considerations

Maintaining the ideal temperature to preserve perishable items like fruit and flowers is a major challenge when transporting them. Temperature changes are affected by distance and transit time. Even a few degrees can have a significant impact on the quality of perishable goods.

Holloway

Second, regionality plays a role. Some perishables are sensitive to temperature and humidity changes, which can vary from region to region. Fresh produce may need different handling and storage depending on the season and location. Maintaining product quality requires adapting to regional changes, and adjusting shipping protocol. Each temperature-controlled truckload of perishable goods requires an individual strategy to ensure it maintains a consistent environment while in transit.

Shippers should also consider the type of load when preparing for refrigerated shipments. It is not recommended to ship fish and florals in the same trailer, despite both requiring refrigerated transportation. Two different types of produce, bananas and lettuce, would be a more detailed example. It is important that shippers understand the science behind their shipments. Bananas emit natural gasses which can affect the freshness and quality of lettuce. It is important that shippers know what can and cannot go together. A carrier with experience will be able to optimize efficiency by understanding these nuances.

Perishable goods are often subject to strict standards and regulations relating to food safety, including temperature control, sanitation and labeling. This is done in order to ensure that the products are safe and secure throughout the supply chain. Failure to comply with the requirements can lead to fines, penalties, and other legal repercussions which can be detrimental to a business.

Here, refrigerated carriers are crucial. They provide a controlled environment that ensures the integrity of shipments. A carrier that is suitable will address all of these challenges.

Find trusted carriers

It is important to select carriers who offer reliable refrigerated transportation in order to ensure the success of perishable shipment. Shippers should look for carriers who go above and beyond in maintaining strict standards of freshness and quality.

Shippers can use reliability, consistency, equipment, and experience as criteria to select the right refrigerated carrier. All these qualities will help you navigate and solve any challenges.

Corey Cox, of the Tandet Group, discusses how early AI users are beginning to reap the benefits of the latest wave. Tune in above or by going to RoadSigns.ttnews.com.

Let’s say that a shipper from a large supermarket chain in the Midwest is required to transport a load of refrigerated goods from Mexico. While there are complexities to moving goods across the border, a trusted temperature-controlled carrier with the right expertise can execute the process. They will have established relationships with growers and carriers, as well as access to or ownership of cross-dock facilities that keep goods moving.

A carrier with experience in nearshoring, relationships and facilities is able to move loads across the border while getting products on shelves fresh.

Keep It Fresh

Shippers and carriers need to be flexible in order to adapt to the ever-changing landscape. This means that you need to have reliable refrigerated transportation during the busy summer months.

Summer can be a busy time, but it is also a good time for shippers and their carriers to evaluate them. When transporting produce and flowers, it is important to choose carriers that adhere the highest standards of service.

James Holloway is the director of logistics for Werner. He helps to lead business growth and ensure that customers receive the support they require.

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