JLR - InMotion invests in Ciculor
INMOTION INVESTS IN CIRCULOR TO HELP JAGUAR LAND ROVER TRACE SUSTAINABLE SUPPLY CHAIN
- InMotion, Jaguar Land Rover's venture capital and mobility services arm, has invested in blockchain technology firm Circulor
- Blockchain technology can trace valuable raw materials from origin to supplier
- Circulor uses combination of GPS, biometrics and QR codes to verify supply chain
- Investment will help Jaguar Land Rover source premium materials with greater transparency
InMotion, Jaguar Land Rover's venture capital and mobility services arm, has invested in blockchain technology firm Circulor.
The investment will enable Jaguar Land Rover to source premium materials with greater transparency as to the provenance, welfare, and compliance of suppliers throughout its networks. As part of its commitment to be a responsible business, Jaguar Land Rover is always innovating to reduce the environmental and ethical impact of its products across their lifecycle.
The technology can trace valuable raw materials throughout a global supply chain from origin to supplier, with Circulor already using blockchain to boost the traceability of minerals used for electric vehicle batteries.
The technology uses a combination of GPS, biometrics and QR codes to digitally verify the movement of raw materials at every step of the process. As well as tracking compliance, the digital process will enable Jaguar Land Rover to assess the carbon footprint of its supply network.
Blockchain technology is impossible to modify or tamper with, giving customers complete confidence that the supply chain is authentic, and all materials have been sustainably sourced.
Sebastian Peck, Managing Director of InMotion Ventures said: "This investment is further evidence of Jaguar Land Rover's commitment to improving the sustainability of its supply chain around the globe, and will help authentically trace raw materials from origin to supplier, eventually to vehicle. The implementation of blockchain technology provides a great opportunity to make a systemic change in supply chain compliance, not just for the automotive world but for other industries, too."
Douglas Johnson-Poensgen, CEO and Founder of Circulor, said: "Our blockchain technology has already proved its worth in tracking materials, and we are excited to innovate further with Jaguar Land Rover and its global supply chain. We believe the digitalisation of the supply chain is key to ensuring traceability between the multiple intermediaries that handle the material between its origin and the manufacturer."
At InMotion, we are investing in the future of transport, mobility and travel. Powered by Jaguar Land Rover, we are supporting entrepreneurs and innovators who change the way we move. InMotion Ventures is Jaguar Land Rover's venture capital fund. We invest in early-stage technology companies that change the face of urban mobility, support an active outdoor lifestyle and deliver unique travel experiences. We are based in London and invest globally. InMotion's mobility services arm Studio 107 works closely with our parent company Jaguar Land Rover to build new services in the urban mobility sector. The name Studio 107 is a nod to the 107% rule in motorsport. In qualifying, drivers who fail to set a lap within 107% of the fastest qualifying time are not allowed to start. Our goal is to select the ideas that play to our strengths and develop them into winning businesses.
Jaguar Media Release - Jaguar Land Rover PR