BMW i Ventures Invests in Next-Gen Blockchain Company Vendia.

Mountain View, CA - May 31, 2022. . . BMW i Ventures announced today an investment in the Series B funding round of Vendia after having invested in their Series A in 2021.  Vendia is a leading next-gen blockchain company that is bringing the combination of blockchain and serverless computing to companies in the web3 era. Vendia’s innovative platform provides a secure way for corporations to share vast amounts of data across applications, data stores, clouds, geographies, tech stacks, and partners in an efficient and scalable way, while maintaining a single source of truth for the data across all parties.
 
Historically, businesses have had to rely on multi-party supply chains across various industries, yet they haven’t been provided with a single source of truth for workloads without retaining the independence of each party’s IT operations. This has made it difficult for these businesses to ensure consistent quality from existing partners and to onboard new ones.
 
“Vendia offers a unique platform solution for businesses that depend on a multitude of partners, providing them with the ability to onboard partners swiftly, and enabling them to share data with full control and confidence that such data would not be overwritten or manipulated,” said Kasper Sage, Managing Partner at BMW i Ventures. “This applies to the automotive sector in particular, and we’re excited to continue working with Vendia as they usher in the next generation of blockchain to facilitate collaboration across corporate partners.”
 
Unlike companies created solely for data analytics workloads, Vendia is designed for operational, real-time data sharing. Vendia is the only company that combines serverless blockchain and Smart APIs in one solution, providing a single source of truth for data across cloud and parties while also allowing for high throughput transaction processing at scale.
 
Vendia’s signature product, Vendia Share, helps organizations accelerate time to market without worrying about infrastructure or relying on Central IT, as well as empowers developers to focus on innovation by eliminating undifferentiated heavy lifting and ongoing maintenance costs. Vendia Share achieves all of this while remaining fully compliant with company and industry regulations at all times.
 
Vendia allows data to be collected via a mobile application at each inspection point in the supply chain. The media files and associated inspection information are stored on Vendia’s multi-party database. Once entered, the data is immutable which is crucial for ensuring mutual trust amongst the involved parties.
 
“BMW i Ventures’ continued investment in Vendia underscores the market need for a single source of truth for multi-cloud and multi-party data," said Dr. Tim Wagner, CEO and co-founder of Vendia. "This investment will allow us to scale our solutions and offerings to customers and we are excited to have BMW i Ventures along for the ride with us.”
 
To learn more about Vendia, go to Vendia.net. And to see the joint research on next-gen blockchains, visit: https://www.vendia.net/blog/serverless-distributed-ledger-for-enterprises

 
About BMW i Ventures
BMW i Ventures is the BMW Group’s venture capital firm, investing money and resources in startups in the fields of transportation, manufacturing, supply chain and sustainability. The firm has made many successful investments over the years in companies such as Chargepoint, Graphcore, Proterra, Solid Power, Tekion, Turntide, Xometry and many more. BMW i Ventures invests in all stages from seed to growth with a focus on Series A/B.
 
About Vendia
Vendia is the leading next-gen blockchain company that’s bringing the combination of blockchain and serverless to companies in the web3 era. Vendia makes it seamless for businesses to share code and data across applications, data stores, clouds, geographies, tech stacks, and partners in a rapid, scalable, and cost effective way. With Vendia, organizations like BMW and Slalom have a single source of truth for multi-cloud and multi-party data while also allowing for high throughput transaction processing at scale. Vendia has been recognized as a Gartner Cool Vendor and recently won the Digital Innovator Award from Intellyx.