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Combating Counterfeit Drugs in India - Ennoventure
Developed Enncrypto as a non-disruptive solution for verifying the authenticity of product packaging
Inception- 2018
Location- Bengaluru & US
Founder- Padmakumar Nair (Chief Executive Officer), Shalini V Nair (Chief Technology Officer)
Total team strength- 40
Total funds raised -Rs 45 crore
Investors- Fenice Investment Group, US
Revenue generated since inception- NA
Key Highlights-
- Developed Enncrypto as a non-disruptive solution for verifying the authenticity of product packaging
- Encryption technology employs AI, cryptography and blockchain to add an invisible cryptographic code to the packaging
- Currently focusing its efforts on companies across diverse industries like FMCG, Pharmaceuticals, Agro-Chemicals, Luxury Goods in India
- Received 2 patents in the US
- Recognised by Microsoft for Startups
- A member of the International and Counterfeiting Coalition (IACC)
- Recognised as one of the innovative businesses among 24 other leading players and further, accepted into Mohammed Bin Rashid Innovation Fund (MBRIF) Accelerator Programme’s Cohort
Founder Speaks-
"We are currently focusing our efforts in pharmaceutical companies in India as it is a key market for the export of generic drugs and further plan to expand to the European and US markets."
-Padmakumar Nair, Co-founder and Chief Executive Officer, Ennoventure, Bengaluru
Published on: 24th May, 2022
