TruTrace Technologies Inc. has announced that it has forged a strategic partnership with Australian technology company Laava to collaboratively drive product provenance and traceability.
“Upon our introduction to TruTrace we could clearly see that we shared the belief that producers and brand owners deserve to protect the quality of their products, and that consumers should always get what they pay for,” Gavin Ger, who is the joint-CEO and commercial director of Laava, said in a statement.
“We believe that together we will find ways to improve the traceability and authenticity within the product supply chain in order to help meet these goals.”
In collaboration with Australia’s scientific research institution CSIRO, Laava has developed the patented Laava Smart Fingerprint. Since 2019, it has deployed more than five million of these Smart Fingerprints around the world on products ranging from cherries to wine, documents, and non-fungible token (NFTs). Since its inception, Laava has launched projects on imports into China and Southeast Asia which incorporated anti-counterfeiting and authentication. Laava is also working on projects across the European Union, the US, Hong Kong, New Zealand, Scandinavia and Israel.
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Toronto-based TruTrace develops fully integrated software, secured on a blockchain infrastructure, giving clients the ability to store, manage, share and immediately access quality assurance and testing details, certificates of analysis, as well as motion and movement intelligence on inventory.
“The agreement provides that both parties will pursue opportunities to promote the individual products, services and offerings of the other to appropriate customers, partners and other commercial contacts,” said TruTrace. The firms are also committed to working together to ensure the success of all technologies deployed in the partnership, while marketing the combined services to clients around the world.
“Over the past several months we have seen significant stress within the global supply chain and with these significant delays and challenges it has become imperative more now than ever to ensure that products are safe and consistent,” said TruTrace CEO Robert Galarza.
“Our strategic partnership helps fill many of the gaps by combining the best features of our software platform with patented, next generation, optical Fingerprint technology which serves as ‘on package’ authentication to provide a unique customer experience driven by blockchain, traceability and testing.”
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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