Verses Technologies (VERS.NEO), a next-generation AI firm providing foundational technology for the contextual computing era, announced today that its wholly owned subsidiary, Verses Logistics, entered into an operating partnership with Tompkins Ventures, a leading supply chain matchmaking firm.
The partnership gives Tompkins the right to introduce Verses’ and its technologies to companies within the supply chain industry to help accelerate the adoption of Verses’ technology portfolio.
As a result of the agreement, Tompkins will receive a percentage-based commission on each successful business arrangement between Verses and a company introduced by Tompkins Ventures.
The founder of Tompkins Ventures, Dr. Jim Tompkins, is an internationally recognized expert on designing and implementing end-to-end supply chains. After 40 years as chairman and founder of Tompkins International, a global supply chain consultancy firm helping other companies achieve profitable growth, Dr. Tompkins launched Tompkins Ventures in 2020.
Tompkins Ventures is focused on helping executive teams address five big problems: entrepreneurial growth, development prosperity, logistics partnerships, technology, and leadership. Since its founding, the company has grown to operate on all continents except Antarctica.
Dr. Tompkins has spent the last several years focused on digital commerce, unichannel and supply chain reinvention. He has also written or contributed to more than 30 books and over 1,000 articles and has been quoted in hundreds of business and industry publications, relating to supply chain excellence.
Gabriel Rene, Verses founder and CEO, commented on the transformative arrangement with Tompkins, “In the last half century, the supply chain has reinvented itself repeatedly to give us the modern supply chain we have today. During that time Jim Tompkins has invented, led, or played a part in a number of key innovations, technology shifts and major trends across the supply chain. We are incredibly proud to have Jim’s experience, vision, and wisdom through this partnership with Tompkins Ventures.”
Dr. Tompkins added, “As is well reported throughout the media, there are two challenges facing the supply chain today – labor and inflation. To address these issues, companies must be smarter in managing the end-to-end supply chain, and I believe VERSES is approaching these challenges in an unprecedented but sorely needed new way.”
Verses’ product portfolio currently includes the company’s ground-breaking COSM™ AI OS platform which allows programmers to build intelligent apps for anything, and its leading Wayfinder AI driven spatially aware warehouse picking optimization software.
Wayfinder trials have improved warehouse pickers productivity by more than 30% by guiding them through their picking activities in real-time, optimizing their routes while avoiding congestion with other pickers and automated picking devices.
Dr. Tompkins summed up the partnership deal with Verses, “As I’ve gotten to know the team and the technology, I’ve been impressed by its potential to optimize labor in warehouses, define spatial capacity and apply AI in new ways to drive supply chain resilience. Tompkins Ventures is excited to bring VERSES to our global network and drive the adoption of their next-gen technologies.”
Verses’ Gabriel Rene was recently interviewed by Equity Guru’s own Jody Vance to explain the company’s value proposition, it’s importance to today’s supply chains and it’s potential for both customers and investors.
In other news, Verses recently announced it had expanded deployment of its smart logistics solution across NRI Distribution’s global operations.
The global supply chain management market was valued at $10.1 billion USD in 2020 and is expected to grow to $19.3 billion by 2028 at a CAGR of 9.02%.
Verses currently trades at $0.98 CAD per share for a market cap of $51.35 million.
–Gaalen Engen