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.
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.
Sebastian Peck, Managing Director of InMotion Ventures
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.
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.
Douglas Johnson-Poensgen, CEO and Founder of Circulor
Circulor provides Traceability-as-a-Service to verify responsible sourcing, underpin effective recycling, and attribute CO2 footprint and other impact metrics to the flow of materials. This directly supports manufacturers in addressing the UN Sustainability Goals by reaching parts of their supply chains that most currently have little real visibility into.
InMotion Ventures is Jaguar Land Rover’s venture capital fund. InMotion invests in early-stage technology companies that “change the face of urban mobility, support an active outdoor lifestyle, and deliver unique travel experiences.” They are based in London and invest globally.
InMotion’s mobility services arm Studio 107 works closely with 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. Studio 107’s goal is to select the ideas that play to their strengths and develop them into winning businesses.
Note: Press release courtesy of Jaguar Land Rover.
