Authentic.network
Our patented technology enables organizations to make pharmaceuticals counterfeit-proof and still easy to read with any smartphone camera.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor investor | €0.0 | round |
| N/A | €0.0 | round | |
€2.6m | Seed | ||
| Total Funding | 000k | ||
| EUR | 2019 | 2020 | 2021 | 2023 |
|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 |
| % growth | - | - | 2440 % | - |
| EBITDA | 0000 | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 | 0000 |
| EV | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 |
Source: Dealroom estimates, Company filings or news article
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Authentic.network, a German company based in Chemnitz, provides digital product authentication to combat counterfeiting. The company was founded in 2018 by Torsten Stein, with Frank Theeg serving as CEO. The legal entity, authentic.network GmbH, was registered in the commercial register in early 2016.
The core of Authentic.network's business is a technology that combines crypto-optical features with blockchain to create uncopyable digital seals for physical products. These seals, which can be applied as stickers or through direct printing, function as physically unique identifiers for items such as medicines, documents, and consumer goods. The business model revolves around providing this anti-counterfeiting solution to brands, which in turn protects them and promotes transparency for consumers. Clients can integrate the system via an API without needing special hardware.
The primary service is a product verification system that allows anyone with a smartphone to scan a product's seal and instantly verify its authenticity, even offline. The accompanying application not only confirms if a product is genuine but also offers features like real-time tracking of scan activity, which helps in identifying where counterfeit products are appearing. This enables the localization of criminal networks. For clients, the platform provides a dealer map and a scan dashboard to visualize the product's distribution journey. The company has successfully implemented its solution in various sectors, including healthcare, where it has helped protect 30 million medication units in West Africa by partnering with a regional health authority to secure the pharmaceutical supply chain. Other case studies include securing solar panels and gardening tools.
Keywords: digital product authentication, anti-counterfeiting technology, crypto-optical labels, blockchain verification, supply chain security, brand protection, product verification, counterfeit detection, smartphone authentication, track and trace, real-time monitoring, secure packaging, digital seal, offline authentication, pharmaceutical security, Frank Theeg, Torsten Stein, Chemnitz startup, decentralized finance, asset tokenization