Detroit-based Fontinalis Partners has invested in Elementum, a Mountain View, Calif.-based cloud supply chain platform. Terms of the agreement were not disclosed.
Elementum creates mobile, desktop, and large screen display applications to help supply chain companies streamline their procurement, logistics, manufacturing, and inventory processes.
The company’s customers include Fortune 500 companies in the automotive, health care, food and beverage, industrial, consumer, and technology sectors.
“Fontinalis focuses on investing in disruptive technologies that can transform industries, which makes Elementum a natural fit for us,” says Ralph Booth, a founding and managing partner of Fontinalis Partners.
Founded in 2012, Fontinalis Partners will provide Elementum with business development resources, and a global network of government and industry leaders.
“With a rapidly growing roster of global 500 customers, Elementum has established itself as the leader in supply chain technology, and the only company capable of building the world’s product graph to tie together the entire global product economy,” Booth says.
In May, Fontinalis, whose partners include Bill Ford Jr., Chris Thomas, Chris Cheever, and Laura Petterle, invested in NuTonomy, a leading developer of software for self-driving cars. Highland Capital Partners in Detroit, along with Australia-based Signal Ventures, were part of the $16-million investment, as well. The funds will help accelerate NuTonomy’s plan of creating a fleet of autonomous taxis.
