Project Verte Is Built on Blockchain
The e-commerce platform operates a 750,000-squarefoot fulfillment space for budding brands.
Project Verte, an e-commerce platform built on blockchain launching this month, wants brands to negate the operational tasks, so they can devote time not to order fulfillment — but to personal fulfillment — that comes alongside business growth and innovation. (Project Verte calls it “satisfillment.”)
More than 55 brands have already signed on in anticipation of the launch, including wellness tech, Foreo; Australianborn clothing brand, Asilio, and others, with the company in communications with 250 additional brands.
Alongside handling operations and logistics, Project Verte integrates finance, marketing and sales channels — or marketplace — activities on its platform, giving emerging to mid- sized brands what founder Julian Kahlon calls a “comprehensive outlook” — an integrated solution, as well as the square footage to scale.
“We think of the warehouse as built for Black Friday, every day,” said Kahlon, on the company’s “two-hour dock to stock” time. Project Verte touts a leadership comprised of Taboola’s former vice president of corporate operations and controls, Lihi Lutan, who is chief operating officer; Manhattan Associate’s former senior director with over 16 years with the company, Padmanabhan Raman, who is chief product officer; and executive vice president of business development, Yifat Baror who hails from Zulily. Last December, Project Verte received a $50 million investment from Jane Gol and
Amir Chaluts of Continental Ventures.
And as discussions resurface on the practical application of blockchain technology with Facebook’s Project Libra announcement just this June, Project
Verte pulls inspiration from not just the cryptocurrency community, but also ridesharing applications. Project Verte counts a tokenized payment system, which is powered by blockchain, for enhanced transparency, as well as an “Uber-like rating system” for brands. On the topic of mitigating risks with serial returners, the system works on a scale of five-star ratings, so only the best customers can see your brand — just like the best riders are paired with the premier drivers. Essentially, brands have the choice to make sure that their page is only visible to customers with ratings that are preferred, signaling a possible backdoor to reducing customer returns.
Innovation doesn’t exist in isolation, Geodis is one partner tapped by Project Verte in its mission to help emerging and mid-sized brands focus on “growth and innovation” without the headache of scaling their operations and logistics, among other facets. Grey Orange, a company specializing in warehouse automation and optimization, is where Project Verte sources its robots and technology for its fulfillment centers.