Jaguar Land Rover’s VC and mobility services arm InMotion has invested in Circulor, a London-based startup bringing blockchain to recycling and resource extraction, so that the automotive company can put the technology to use in house. The UK software helps clients check where their manufacturing materials are coming from and the sustainable or ethical (or not) way those resources are extracted. It's accountability tech for the supply chain.
For instance, Jaguar Land Rover says this investment will allow it to source materials "with greater transparency as to the provenance, welfare, and compliance of suppliers throughout its networks."
Basically, the technology traces valuable raw materials throughout a global supply chain from origin to supplier, with a combination of GPS, biometrics and QR codes. Circulor is already using blockchain to boost the traceability of minerals used for electric vehicle batteries.
As well as tracking compliance, the digital process will enable Jaguar Land Rover to assess the carbon footprint of its supply network.
Also make sure to check out our recent podcast interview with Sebastian Peck, the managing director of InMotion Ventures.