Bendi: Pioneering Supply Chain Transparency in a Complex World
October 30, 2024, 9:35 pm
Location: United Kingdom, England, Birmingham
Employees: 11-50
Founded date: 1991
Location: Denmark, Capital Region of Denmark, Copenhagen
Employees: 11-50
Founded date: 2005
In the intricate web of global commerce, supply chains are the lifeblood of businesses. Yet, they often resemble a dark forest, filled with hidden dangers and unseen paths. Enter Bendi, a London-based startup that has just secured €960,000 in pre-seed funding to illuminate these shadows. With its AI-driven platform, Prism, Bendi aims to transform how large retailers and manufacturers manage supply chain risks, particularly those related to environmental, social, and governance (ESG) factors.
Founded in 2020, Bendi is not just another tech company. It’s a beacon for businesses grappling with the complexities of modern supply chains. The global supply chain management market, valued at nearly $30 billion in 2022, is projected to skyrocket to $85 billion by 2033. This surge is fueled by growing complexities, evolving sustainability standards, and increased regulatory pressures. Companies are scrambling to keep up, often stumbling in the dark.
Bendi’s flagship product, Prism, is designed to tackle these challenges head-on. It automates supply chain mapping and ESG risk assessments, providing real-time insights into over 100 risk indicators. These include human rights violations, environmental hazards, and governance concerns. The platform operates in more than 35 languages, making it a versatile tool for global businesses.
Historically, supply chain risk management has been a cumbersome process. Companies relied on supplier questionnaires, indexes, and on-site audits. These methods are slow and often depend on the cooperation of suppliers, especially in the deeper tiers of the supply chain. Without visibility, businesses struggle to gather the necessary data, leading to gaps in risk assessment. This can result in catastrophic consequences, from chemical contamination in India to union busting in Peru.
Bendi’s technology emerges at a crucial juncture. Recent legislation, such as the EU’s Corporate Sustainability Due Diligence Directive (CSDDD) and the US Uyghur Forced Labor Prevention Act (UFLPA), imposes stringent demands on companies. They must now provide detailed evidence of their supply chain’s sustainable practices. The stakes are high: non-compliance can lead to hefty penalties and severe reputational damage.
The founders of Bendi bring a wealth of experience to the table. CEO Mandeep Soor, a former strategist for the Boston Consulting Group, has a personal connection to the issue. Her childhood experience watching her mother work as an informal seamstress has fueled her passion for improving labor conditions. Chief Research Officer Benjamin Norsworthy has over 15 years of sustainability experience, while CTO Olivier Bacs has led software development for notable companies. Together, they form a formidable team, poised to make a significant impact.
Bendi’s mission is clear: to empower companies to take responsible actions and strengthen their supply chains. As global supply chains become more complex, the tools for ensuring transparency and sustainability are no longer optional; they are essential. Bendi aims to provide businesses with the insights they need to navigate this landscape effectively.
The recent funding round was led by Birmingham-based VC Midven, part of the global Future Planet Capital fund. Other participants included Heartfelt Capital in Berlin, Chasing Rainbows in San Francisco, and various angel investors. This financial backing will enable Bendi to enhance its platform, expand its team, and extend its capabilities across more industries and markets.
The importance of Bendi’s approach cannot be overstated. In a world where supply chains are increasingly scrutinized, the need for transparency is paramount. Companies that fail to adapt risk falling behind. Bendi’s technology offers a lifeline, allowing businesses to surface risks that may otherwise remain hidden.
As the regulatory landscape tightens, Bendi is well-positioned to lead the market. The company’s innovative solutions are not just about compliance; they are about fostering a culture of responsibility and sustainability. This shift is essential for businesses looking to thrive in the modern economy.
In conclusion, Bendi is more than a tech startup; it’s a catalyst for change. By harnessing the power of AI and data intelligence, Bendi is transforming supply chain risk management. The journey ahead is fraught with challenges, but with its cutting-edge platform, Bendi is ready to guide businesses through the complexities of global supply chains. As they say, in the world of supply chains, knowledge is power. And Bendi is here to light the way.
Founded in 2020, Bendi is not just another tech company. It’s a beacon for businesses grappling with the complexities of modern supply chains. The global supply chain management market, valued at nearly $30 billion in 2022, is projected to skyrocket to $85 billion by 2033. This surge is fueled by growing complexities, evolving sustainability standards, and increased regulatory pressures. Companies are scrambling to keep up, often stumbling in the dark.
Bendi’s flagship product, Prism, is designed to tackle these challenges head-on. It automates supply chain mapping and ESG risk assessments, providing real-time insights into over 100 risk indicators. These include human rights violations, environmental hazards, and governance concerns. The platform operates in more than 35 languages, making it a versatile tool for global businesses.
Historically, supply chain risk management has been a cumbersome process. Companies relied on supplier questionnaires, indexes, and on-site audits. These methods are slow and often depend on the cooperation of suppliers, especially in the deeper tiers of the supply chain. Without visibility, businesses struggle to gather the necessary data, leading to gaps in risk assessment. This can result in catastrophic consequences, from chemical contamination in India to union busting in Peru.
Bendi’s technology emerges at a crucial juncture. Recent legislation, such as the EU’s Corporate Sustainability Due Diligence Directive (CSDDD) and the US Uyghur Forced Labor Prevention Act (UFLPA), imposes stringent demands on companies. They must now provide detailed evidence of their supply chain’s sustainable practices. The stakes are high: non-compliance can lead to hefty penalties and severe reputational damage.
The founders of Bendi bring a wealth of experience to the table. CEO Mandeep Soor, a former strategist for the Boston Consulting Group, has a personal connection to the issue. Her childhood experience watching her mother work as an informal seamstress has fueled her passion for improving labor conditions. Chief Research Officer Benjamin Norsworthy has over 15 years of sustainability experience, while CTO Olivier Bacs has led software development for notable companies. Together, they form a formidable team, poised to make a significant impact.
Bendi’s mission is clear: to empower companies to take responsible actions and strengthen their supply chains. As global supply chains become more complex, the tools for ensuring transparency and sustainability are no longer optional; they are essential. Bendi aims to provide businesses with the insights they need to navigate this landscape effectively.
The recent funding round was led by Birmingham-based VC Midven, part of the global Future Planet Capital fund. Other participants included Heartfelt Capital in Berlin, Chasing Rainbows in San Francisco, and various angel investors. This financial backing will enable Bendi to enhance its platform, expand its team, and extend its capabilities across more industries and markets.
The importance of Bendi’s approach cannot be overstated. In a world where supply chains are increasingly scrutinized, the need for transparency is paramount. Companies that fail to adapt risk falling behind. Bendi’s technology offers a lifeline, allowing businesses to surface risks that may otherwise remain hidden.
As the regulatory landscape tightens, Bendi is well-positioned to lead the market. The company’s innovative solutions are not just about compliance; they are about fostering a culture of responsibility and sustainability. This shift is essential for businesses looking to thrive in the modern economy.
In conclusion, Bendi is more than a tech startup; it’s a catalyst for change. By harnessing the power of AI and data intelligence, Bendi is transforming supply chain risk management. The journey ahead is fraught with challenges, but with its cutting-edge platform, Bendi is ready to guide businesses through the complexities of global supply chains. As they say, in the world of supply chains, knowledge is power. And Bendi is here to light the way.