Austrian startup Authentic Vision closes $5M funding round
Anticounterfeiting solution provider Authentic Vision has closed a $5 million Series B funding round. Investors include Austrian private company Custos Privatstiftung, the US VC fund Dolby Family Ventures, the UAE-based Gronova Vision, German company TAKKT AG and business angels.
Authentic Vision provides anticounterfeiting and authentication technologies designed to enable companies to protect their products, brands, reputation, as well as their customers. Its solution is a complete toolset that consists of customizable holographic fingerprint tag that can be integrated into the packaging, free CheckIfReal app, which can verify the authenticity of products by scanning the tag, and a web platform with business insights.
“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,” maintained Thomas Weiss, CEO and founder of Authentic Vision.
Authentic Vision customers already include HDMI and Helen of Troy in the US, Danfoss and Eurostampa in Europe, Japan Bio Products in Asia as well as Elsewedy in Egypt. The company is planning to invest the proceeds into the further acceleration of its international expansion.