Lineage Logistics and 8VC Announce Strategic Alliance to Revolutionize the Transportation and Logistics Technology Sector

~The formal strategic alliance aims to invest in promising technology start-ups that drive the transportation and logistics industry forward~

~8VC Co-founder and Partner, Jake Medwell, Joining Lineage as Advisor

~~Lineage Logistics CIO, Sudarsan Thattai, Joining 8VC as Advisor~

News provided by

8VC

Jul 15, 2021, 10:00 ET

AUSTIN, Texas and NOVI, Mich., July 15, 2021 /PRNewswire/ -- Today, the world's largest and most innovative temperature-controlled industrial REIT and logistics provider, Lineage Logistics ("Lineage"), and the world's fastest-growing and most active venture capital firm in logistics technology, 8VC, announced they have formalized a longstanding strategic alliance to invest in and revolutionize the transportation and logistics technology sector.

The two companies have a proven track record of successful collaboration, co-investing in numerous companies over 8VC's past three funds and growing their relationship by integrating 8VC portfolio companies across the Lineage platform. Via Lineage Ventures, the logistics firm's technology investment arm, Lineage and 8VC have catapulted start-up organizations like Project44, Trackonomy, and Baton to success in the transportation and logistics space.

One of 8VC's differentiating factors is its unique ecosystem of advisors and partners in the logistics and supply chain space. Lineage brings another dimension to this as they are leaders in size, scale, and technology capability with a strong appetite for collaboration. Lineage 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 an LP 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's 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," said Sudarsan Thattai, Lineage's Chief Information Officer. "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 this 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 their collaboration within this large and complex ecosystem.

"I am thrilled to have Sudarsan join 8VC as an Advisor," said Medwell. "We've had a longstanding friendship and have worked together closely over the years. I've come to know him as one of the most knowledgeable executives in the space and someone who has earned the respect of both the top technology entrepreneurs and existing operators – which is very hard to do."

"Working with Jake has helped our entire technology team, including the industry's first and only data science team, advance our technology roadmap and increase our exposure to the most exciting new technologies," said Thattai. "Aside from having one of the most impressive portfolios, 8VC and Jake have a true understanding of the nuances in the technology space which allows him to see beyond what traditional venture capitalists do. Jake and 8VC have entrepreneurial DNA which makes this partnership so dynamic. They know how to build and rapidly scale companies. They understand how we think and are willing to take risks alongside us. We are thrilled to expand our partnership and efforts with them," said Thattai.

As Lineage's Advisor, 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 some of the most prominent and influential names in the industry such as Chris Sultemeier, former CEO of Walmart Logistics; Alan Gershenhorn, former CCO of UPS; Andrew Clarke, former CFO of C.H. Robinson Worldwide; Shaleen Devgun, CIO of Schneider National Inc. and Michael McLary, former President of T.L. Brokerage at Amazon.

About Lineage Logistics
Lineage Logistics is the world's largest temperature-controlled industrial REIT and logistics solutions provider. It has a global network of over 340 strategically located facilities totaling over 2 billion cubic feet of capacity which spans 15 countries across North America, Europe, Asia-Pacific, and South America. Lineage's industry-leading expertise in end-to-end logistical solutions, its unrivaled real estate network, and development and deployment of innovative technology help increase distribution efficiency, advance sustainability, minimize supply chain waste, and most importantly, as a Visionary Partner of Feeding America, help feed the world. In recognition of the company's leading innovations and sustainability initiatives, Lineage was recognized as the No 1. Data Science company, and 23rd overall, on Fast Company's 2019 list of The World's Most Innovative Companies, in addition to being included on Fortune's Change The World list in 2020. (www.lineagelogistics.com)

About 8VC
8VC is a leading technology investment firm investing in visionary teams and backing industry-transforming companies. The partners have a proven track-record as founders, engineers, and operators of successful companies including Palantir, Addepar, Affinity and OpenGov, among others. 8VC was founded in 2012 and manages $3.6 billion in committed capital. 8VC invests primarily in smart enterprise platforms across industries including financial services, healthcare, logistics and others, and Bio-IT. For more information, please visit http://8vc.com.

SOURCE 8VC