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Vinturas secures €2 MLN. European subsidy

By 2 July 2020January 25th, 2023No Comments

Faster rollout of existing automotive blockchain platform

July 2, 2020 – Vinturas, European forerunner in the standardization of digital processes in the automotive industry, has received a European subsidy of €2 million for its innovative use of blockchain technology. Vinturas was awarded the subsidy because of its vital contribution to European sustainability and digitization targets. The subsidy will allow Vinturas to accelerate its objective of achieving full transparency in the automotive supply chain of new and used vehicles.

The company will use the €2 million subsidy from the European Regional Development Fund (ERDF), which is issued through the North Netherlands Cooperation Association (SNN), to further accelerate the digital management of millions of vehicle movements in Europe based on its blockchain technology.

Innovation and sustainability
“This subsidy underlines the importance of the Vinturas platform to transparency in the supply chain from factory to dealer, including all transport movements of used vehicles within Europe,” says Jon Kuiper, the company’s CEO. “As such, we are contributing to the European agenda in relation to innovation, digitization and sustainability. In addition to acknowledging our contribution, this subsidy will allow us to accelerate the development of new digital applications in order to create added value for our customers. Supplying an electronic consignment note (e-CMR), for instance, will eliminate millions of paper documents.”

Vinturas delivers supply chain visibility for the automotive industry
Vinturas was established in 2019 as a consortium of leading European logistics service providers and is a leading player in the standardization of digital processes in the automotive finished vehicle industry, a sector that has seen little digitization and still largely works with paper documents. The Vinturas platform realizes an end-to-end track & trace functionality for vehicles in the logistics chain, enabling dealers to better inform their customers about delivery times and delivering real-time visibility of the end-to-end supply chain for OEMs and fleet owners.