Jul 18, 2019 - Economy

Dust Identity raises $10 million in Series A funding

Dust Identity, a Framingham, Mass-based supply chain security and tracking startup that utilizes diamond dust, raised $10 million in Series A funding.

Why it matters: Do you know any other company whose business model is based on diamond dust? Specifically, inexpensive industrial diamond waste that's used to lightly coat an object, thus creating unique tagging properties and an ability to ensure that the object hasn't been messed with.

  • Kleiner Perkins led, and was joined by Airbus, Lockheed Martin, New Science Ventures, Angular Ventures and Castle Island Ventures.

The bottom line: "Dust Identity’s tagging technology could eventually help secure the increasingly long and complex supply chains that global manufacturers rely on. Producers of complex products like airplanes or electronics would be among the biggest potential users of the company's technology, which emerged from research into the quantum properties of diamonds," writes Fortune's David Z. Morris.

Go deeper: The diamond market gets cloudy

Go deeper