Data Gumbo provides a private, permissioned smart contract platform, GumboNet™, that utilizes real-time IoT sensor data and API integrations to automate invoicing and payment processes in the energy, mining, and construction industries. This technology reduces payment cycles from 72 days to 2 days and minimizes manual reconciliation, resulting in cost savings of 2-10%.
Funding
$4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Industrial enterprises often face challenges with inefficient and opaque transaction processes, leading to delayed payments, manual reconciliation, and increased operational costs. Traditional invoicing and payment systems lack real-time visibility and automation, hindering efficient collaboration between companies and their business networks.
Solution
Data Gumbo provides GumboNet, a private, permissioned smart contract platform that leverages real-time IoT sensor data and API integrations to automate invoicing and payment processes for industrial enterprises. By utilizing data from connected devices and systems, GumboNet ensures invoice accuracy and eliminates the need for manual reconciliation. The platform reduces payment cycles from an average of 72 days to as little as 2 days, resulting in significant cost savings and improved cash flow for businesses and their partners. GumboNet facilitates efficient and transparent transactions within global business networks, fostering trust and collaboration.
Target Audience
The primary target audience includes global industrial enterprises in sectors such as energy, mining, construction, manufacturing, and supply chain & logistics, as well as their suppliers and partners.
Features
- Private, permissioned smart contract platform for industrial enterprises
- Real-time IoT sensor data and API integrations for automated invoicing
- GumboStore for deploying pre-built smart contract templates without coding
- Automated invoice reconciliation based on actual delivery data
- Customizable dashboards for monitoring contract performance and transaction status
- Secure and transparent transaction processing within a trusted network
- ESG reporting capabilities for tracking safety, emissions, and resource usage