Earlier this year, Tegra Corporation invested in Blockchain Productivity (BCP).
This brought the technology company into the broader Tegra portfolio – much of which is located in Sioux City. Tegra Corporation invested approximately $260,000 for an equity stake in the company. The founders retain a majority stake and will receive additional support from in-kind services and guarantees on credit for hardware.
BCP has assembled two primary products. First, the company has created a low-cost supercomputer which is used to provide managed bulk computing services. This allows “massive computing power for processing intensive applications” according to Ilya Tabakh, CEO of BCP. For example, one Major League Baseball team has used BCP to process a model huge sets of data to create an analytics and decision-making engine – allowing the creation of a “Moneyball 2.0” system.
Second, the company has created a decentralized nodal computing system that allows on-site computing power for remote locations in the Midwest. Specifically, with deployments around both Sioux City and Kansas City, BCP has built a tool that allows rural locations that need significant computing power a new tool for on-site computing. This product line is specifically focused at rural manufacturing which need significant computing power where the lag of large public cloud providers impacts speed and efficiency of various key business systems – including the production, itself.
Tegra Corporation is known in Sioux City for its significant production and logistics business– including a rubber and plastics company (Sioux Rubber and Urethane) and two logistics hubs (Big Soo Terminal and Big Soo Warehouse). Early last fall, Doug Palmer, the CEO of Tegra, received the W. Edwards Deming Leadership and Entrepreneurial Excellence Award from the Siouxland Chamber of Commerce.
The company, while not known for investing in early stage technology, is particularly excited about this investment because of its opportunity to both help its own business and provide real opportunities for businesses in the Siouxland region. Moreover, Tegra recognizes the importance of this investment to the nascent Sioux City entrepreneurial ecosystem.
BCP hopes to use the investment to continue to invest in its computing power, servers, and other key infrastructure needs to bolster its network’s compute power and to continue to build decentralized resources for the Silicon Prairie region.
The founder and CEO, Ilya Tabakh, is a multi-time founder who lives in Kansas City and received his PhD in environmental engineering from the University of Kansas. This experience founding companies has helped Tabakh prepare for his journey with BCP and to finding partners in Sioux City.