Recently, the venture arms of corporate giants Volvo and Total invested in blockchain traceability startup Circulor that helps reduce child labor in Africa and aspires to work with Tesla (NASDAQ:TSLA), GM and Ford.
Prior to an investment by its venture arm, Volvo was testing Circulor’s platform for over a year. The startup was helping the carmaker to verify the origins of cobalt used in its batteries. Cobalt, as is with many other raw materials, is not always ethically sourced. Circulor is also tracking the origins of another important raw material for car manufacturing, mica, which is used for insulation.
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