Based in Zurich Correntics is developing a Software-as-a-Service solution for supply-chain risk analytics that allows companies to become more resilient and less prone to interruptions due to climate change and other emerging risks. The startup received the Venture Kick award prize of CHF 150’000 to accelerate its market launch.
The last few years have shown that the globalized economy has become extremely sensitive to disruptions. Events such as natural disasters, global pandemics, or geopolitical issues show how quickly tightly connected global supply chains can be interrupted. In the context of climate change, many natural hazards are expected to become more likely or more severe in the future, posing an increasing threat to global supply chains.
Because of the complexity involved in supply chain modelling and risk analytics, many companies struggle to mitigate the risks nested in their supply chains. Correntics, with its software, data-driven approach and a deep understanding of risk, helps clients to future-proof their supply chains and improve their resilience in the face of climate change and emerging risks while ensuring the sustainability of business activities.
In contrast to other companies offering services regarding risk management of natural hazards and climate change, Correntics is unique in its focus on the long-term climate resilience of complete supply chains. By considering the complex interaction mechanisms in global value chains, the Correntics platform will stand out in its modelling capabilities but also in its way of visualizing complex risks, supporting companies to increase their resilience and reducing risks of severe economic interruptions.
The startup will use the CHF 150,000 Venture Kick award to further develop its modelling capabilities and launch the first enterprise version of its software early next year. Besides technical developments, Correntics is expanding its team in Zurich to increase sales across different sectors that are especially prone to weather- and climate risks, such as food & agriculture, energy, infrastructure, and logistics.
The global supply chain management market is estimated at USD 19.8 billion and is expected to grow significantly over the next years, almost doubling by 2027. Correntics addresses the supply-chain risk management software market, which is expected to reach approximately USD 4.6 billion by 2025.
Correntics was founded by Michael Gloor, CEO, and Gaudenz Halter, CTO. Together they have years of experience in modelling, software development, scientific data visualization, and the reinsurance industry. They are graduates of ETH Zurich and the University of Zurich, respectively.
“The competition was an invaluable experience for us at Correntics to sharpen our business model and value proposition during the three stages of Venture Kick. Getting regular feedback from industry experts and investors in the jury, as well as getting challenged on our financing and go-to-market strategy during the Kickers camps helped us tremendously along our journey this year,” said Michael Gloor, CEO of Correntics.
(Press release / RAN)
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