From left: Ubloquity CEO Rob Chester and TETA chair John Buxton at the International Trade Awards in November 2023. Image: Ubloquity
The Technology-Enabled Trading Alliance is going independent to get access to new grants and speed up its growth.
A supply chain consortium that includes Amazon Web Services (AWS) is becoming an independent entity and spinning out from Belfast start-up Ubloquity.
This consortium – the Technology-Enabled Trading Alliance (TETA) – was established by the start-up in 2022 to solve an export issue for the Rhug Estate farm in Wales. Since then it has grown to include eight specialist companies and more than 100 industry experts.
TETA is now spinning out from Ubloquity to pilot multiple projects that aim to optimise supply chains, speed up the import and export of goods and lower operations costs. TETA said it will harness the power of blockchain, science and IoT (internet of things) technology to achieve these goals.
Ubloquity said spinning out the consortium will give it access to government grants and different funding streams to boost its growth. It is also hoped that being an independent entity will help TETA to broaden its impact and reach.
John Buxton, the former commercial director of Ubloquity and a key character in TETA’s formation, will be the chair of the consortium.
“Leading TETA into this new era as an independent entity presents an exciting opportunity to further our vision of transforming global trade through technological innovation,” Buxton said. “We stand at the forefront of creating solutions that not only drive business efficiency but also contribute significantly to the broader goals of sustainable and streamlined global trade.”
Using blockchain tech, Belfast’s Ubloquity provides a way for producers, manufacturers, hauliers, retailers, government agencies and regulators to navigate supply chains. It was one of eight start-ups from across the island of Ireland that was shortlisted for the KPMG Global Tech Innovator Competition last year.
Ubloquity CEO Rob Chester said it’s the “perfect moment for a strategic realignment” as the company is close to finalising a multimillion-pound investment round.
“John Buxton has been exceptional in leading TETA to become an entity that is greater than the sum of its parts,” Chester said. “Under his guidance, I’m certain TETA will continue to thrive, offering integrated solutions to complex trade challenges.
“Ubloquity is excited to support TETA with its future blockchain integration requirements and provide data verification solutions as it scales new heights.”
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