Shelf.Network Receives $1.1 Million Investment From Japanese Software Giant

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17.11.2018

Decentralized marketplace Shelf.Network has announced a significant partnership with Japan’s largest automotive software provider Broadleaf, startup’s founder and CEO Lasha Antadze told ForkLog.

Apart from $1.1 million Investment, the parties agreed on a special distribution deal that will enable Shelf’s technology to be adopted by markets in Southeast Asia and create an automotive trade network across such countries as Japan, Myanmar, Cambodia, Philippines, New Zealand, Thailand, Indonesia, Vietnam, Lao PDR, Australia, India, Bangladesh, Sri Lanka, and Singapore.

Shelf as a distributed technology enables p2p connection between car listing marketplaces and empowers sellers to run the same vehicle trade synchronized across these multiple platforms. Such distribution and unifying service creates a global infrastructure where not only cars can be shared, but builds up entire ecosystem of interconnected businesses, where with each car supplementary services such as transportation, inspections, financing companies can cross-sell their offerings.

Currently Shelf is active in Eastern European region, where it seeds around 52,000 vehicles every month from the US and German dealerships. Shelf’s ecosystem also hosts such supplementary services as Carfax, Look.Live inspections, transportation companies etc.

After its formation Shelf.Network quickly gained momentum and in just a year’s time became one of the best real world use cases of blockchain technology. The startup also won several consecutive awards in both automotive and blockchain industries.

Those awards include:

  • Winner of Frontier Innovation Award as the Best Real World application of blockchain technology;
  • Winner of BlockShow 2018 Oscar Award as the best European blockchain startup;
  • YCombinator – startup school;
  • Techstars 2018 – graduate;
  • Winner of Automeckanika Innovation Award (largest automotive faire).

Shelf.Network is also nominated as the best global re-marketing solution for FleetEurope, finding itself among the biggest industry names such as BCA, Manheim and Autorola.

“It’s been a very interesting year, and looking at the phase how everything accelerated starting from an Ukrainian town to a US company with global partnerships, it’s a very positive sign that all is yet to come,” said Lasha Antadze.

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