Augment Ventures November 2022 Update

Fund III New Investment: Secro

Secro enables frictionless cross-border trade. Its blockchain SaaS platform provides enterprise customers with next-generation, open network electronic bill of lading, digital trade document management, and secure collaboration.

Secro’s beachhead customers are physical commodity traders moving bulk raw materials across oceans. Secro’s customer are able to reduce transaction processing time from 20-30 days to couple hours, lower cost of capital by 2-3% due to risk transparency and reduce fraud, resulting in higher operational efficiency.

We’re excited to partner with Michele Sancricca and his team as they disrupt global maritime trade. Welcome to the Augment Family!

Michele Sancricca, Co-Founder and CEO of Secro:
“Disrupting the ocean trade of commodities does not only require exceptional industry expertise but also mastery of digital technologies. It has been critical to complement our strengths with Augment’s capabilities to structure and execute our first institutional round in a very challenging capital market. Above all, Sonali’s entrepreneurial acumen and passionate leadership proved to be of incredible help when restructuring our corporate setup and get us ready for global scaling. We could not have better, more competent and approachable companions in our customer-obsessed journey.”

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Maritime Digital Transformation
The Digital Container Shipping Association (DCSA) estimates a 50% adoption of standardized electronic bill of ladings could lead to $4 billion in industry savings.

The Commonwealth estimates paperless trade could generate an additional $1.2 trillion in trade by Commonwealth Countries.

In the News

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The partnership will integrate GoCardless’ open banking solution onto the Crowdz platform, allowing seamless funding rails for SMEs. You can read the article here.

Wired Magazine Focuses on Perennial’s Technology
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Secro Wins SHIPPINGInsight 2022 Innovation Award
The award is presented annually to honor a solution provider for the successful development and implementation of an innovative initiative that advances the state of the art in ship and fleet optimization goals. You can read the full announcement here.

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