LocatorX Raises Cash, Names Former UPS CFO to Board of Directors

In a recent release, LocatorX, a tracking technology provider, announced the close of its most recent round of fundraising in which it raised $6.6M over the past year. The round reportedly was to support continued product development and expansion of operations in both sales and marketing. In other news, the company announced the appointment of former UPS CFO Kurt Kuehn to its board of directors.

LocatorX technology is designed to enable brands and consumers to access an item’s current location and audit trail from its origin, in order to prevent theft, counterfeiting, and product diversion.

“Tracking and anti-counterfeiting technology have never been more important than in our current global environment,” said Scott Fletcher, president and CEO, LocatorX. “The pandemic has created additional demand for location capabilities due to disruptions in the supply chain and a greater need for product authentication and tracking for healthcare equipment. Kurt Kuehn is a phenomenal addition to our board of directors. His unparalleled supply chain expertise and tenure as a leader at UPS will have a huge impact on the work we’re doing at LocatorX.”

Kurt Kuehn most recently served as the Chief Financial Officer at UPS for 8 years, capping a 38-year career at the company.

“LocatorX technology can help provide peace of mind to companies in an uncertain environment,” said Kuehn. “The ability to provide visibility as to a product’s journey through the supply chain—particularly who has touched it and when—will only become more important in the months and years to come.”