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OpenSC raises $4M in funding round for blockchain supply chain management

OpenSC, an impact venture developed by the World Wide Fund for Nature Australia and BCG Digital Ventures, has raised $4 million in seed funding. The venture will use these funds to develop its blockchain platform, which helps track food and products and helps companies and individuals avoid unethical, illegal or environmentally unfriendly products, according to a press release.

OpenSC is focusing on using its platform to build transparency into products that violate human rights or cause environmental damage.

The venture recently announced a collaboration with Nestle to trace its milk products from farms in New Zealand to consumers in the Middle East. Nestle later plans to use the platform to track palm oil sourced in the Americas.