CHF 2.3 million for Authena’s fight against counterfeiting

Within just three years, the Swiss start-up Authena has become the spearhead in the international fight against product counterfeiting and product diversion. The team headed by founder and CEO Matteo Panzavolta will now receive a considerable seed investment of more than CHF 2.3 million. The investors include private individuals from Switzerland and the United Kingdom. The rapidly growing US innovation fund Ecliptic Capital is sending a clear signal with its first investment outside the USA in Authena. Ecliptic focuses on pre-seed, seed and Series A investments and backs the development and scaling of emerging technologies. “We are proud of the international trust placed in our team and technology. We are pleased to be able to take the next step in our business development with this investment,” emphasized Matteo Panzavolta, CEO of Authena. 

Blockchain, electronic seals and direct communication

The Swiss start-up with 15 members of staff around the world has developed a blockchain-based technology for tracking supply chains and establishing interactive, end-to-end communication between manufacturers and end users. Authena combats product counterfeiting, parallel imports and the diversion of pharmaceutical products, for example. Using NFC tags that act as electronic seals, manufacturers are able to guarantee the authenticity of their products. At the same time, they can detect unauthorized interactions with their goods in real time. Consumers can determine the authenticity of products with just a tap of their smartphone by downloading the free app or using a direct NFC connection. This is faster and more secure than a solution based on a QR code.

“Our technology is successfully being used by companies such as wine and cosmetic producers, pharmaceuticals manufacturers, and in agriculture. Every single product and every unit can be verified by users with the Authena app at any time. We are therefore making it possible to access detailed information about the product and generate the necessary data to further develop smart supply chains,” commented Matteo Panzavolta.

(Press release / SK)
Picture (L-R): Roman Kocemba, Nicola Fantini, Rossana R. Rodgers, Matteo Panzavolta, Dejan Milenovic