New Investment Round Accelerates Authentic Vision’s Global Growth
FOR IMMEDIATE RELEASE
Anticounterfeiting Solution Provider Authentic Vision Closes $5 Million Series B Funding Round And Expands Team In Europe And US
Salzburg, Austria. October 27, 2020 – Authentic Vision, GmbH, an Austrian-based technology startup that provides anticounterfeiting solutions, announced today that it has closed a $5 million Series B funding round with Custos Privatstiftung (Austria), Dolby Family Ventures (USA), Gronova Vision (UAE), TAKKT AG (Germany) and business angels.
Authentic Vision’s anticounterfeiting solution helps companies protect their products, brands, and customers from counterfeiting. The solution which is based on a 100% secure fingerprint and can be verified by every smartphone is used by leading companies to mitigate the financial, legal and reputational risks of counterfeits and protect their distribution channels and customers. Globally, the value of counterfeit goods and products is estimated by the International Chamber of Commerce to exceed US$2.3 trillion by 2022.
Authentic Vision’s solution is a complete toolset that enables companies to protect their product innovation investments and discover previously unobservable counterfeiting using their analytics platform. The free CheckIfReal app, which can verify genuine products in real-time, assures channel partners and consumers they are purchasing genuine products.
“Recent global developments, including the COVID-19 pandemic, have created more opportunities for counterfeiters. We see that companies are increasingly concerned about protecting their products, distribution partners and customers. Our anticounterfeiting solution provides the advanced anticounterfeiting and analytical insights they require. To better support our global customers, we are planning to expand our global team, including five new team members in Salzburg in the area of Customer Success, Development and R&D,” said Thomas Weiss, CEO and Founder, Authentic Vision.
Authentic Vision has built a portfolio of international brands and companies already benefitting from its solution, and plans to accelerate its global expansion with the additional capital from this funding round.
“In the past two years, Authentic Vision has made significant progress with growing international customers, including HDMI and Helen of Troy in the US, Danfoss and Eurostampa in Europe, Japan Bio Products in Asia as well as Elsewedy in Egypt. I am very pleased that we closed this financial round despite these challenging times, and the company can now further accelerate its global expansion” said Andreas Spechtler, Executive Chairman, Authentic Vision.
About Authentic Vision
Authentic Vision provides anticounterfeiting and authentication technologies designed to protect your organization’s investments in product innovation, brand value, and reputation while creating new opportunities to increase trust and engagement with consumers. The company’s unique holographic fingerprint tag, mobile authentication app, and real-time analytics capabilities protect physical assets from counterfeiting and alert brand and product owners to potential fraudulent activity. Their anticounterfeiting and authentication technologies help to minimize lost revenues and mitigate liability due to counterfeits and create new opportunities to engage with consumers through loyalty programs, incentives, and future experiences that bridge the physical and digital. Visit AuthenticVision.com to learn more about their solutions, view case studies, download their consumer app, or read the latest insights on how anticounterfeiting and authentication technologies can help your organization.
Martin Steib, VP of Marketing, Authentic Vision