While other startups rush to reposition themselves as blockchain pure-plays, track-and-trace company ScanTrust is the opposite. For some, blockchain is the heart of a solution. But not for ScanTrust. The startup sees blockchain as augmenting and enhancing traceability, transparency, and trust, but not the core. Currently, blockchain accounts for less than ten percent of their revenues.
The company provides a copy-proof QR code solution which is used for supply chain track and trace and consumer engagement. Having launched in 2014, late last year the startup raised a $4.2 million Series A round led by Credit Suisse and including Innogy Ventures. The Swiss-based startup currently has a team of 35 people in six offices spread around the globe.
Many of its clients are major Western companies – like Unilever, Dow Chemicals, and ABInBev – looking to protect their brands in China. But these big companies don’t want to have different systems around the world, so there’s the potential to leverage the ScanTrust solution globally.
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