Verofax Asia, a subsidiary of Verofax Limited, officially appears on AntChain’s Alliance Partner page as of July 23rd 2020. Privity is a pre-seed investor in Verofax Limited and is delighted to share this wonderful news with everyone. Please click https://lnkd.in/dW-dzTU details on Ant and their partners.
Verofax focuses on traceability as a service(TaaS) and is the first UAE based company backed by Privity since our inception back in 2004.
DUBAI, UAE, July 5, 2020 – (ACN Newswire) – Verofax Limited, a start-up building innovative Traceability services with the application of blockchain, closed its recent pre-seed investment round with participation from Privity FZ LLE, based in the UAE, acquiring an equity stake. Privity is an independent venture-focused advisory firm, founded in Dubai in 2004, that has backed and invested in more than a dozen portfolio companies since its inception. Wassim Merheby, Verofax CEO, commented, “We are truly thrilled to welcome Privity as a shareholder in Verofax. Traceability plays a key role in upgrading brand owners’ business through authenticity validation, advanced product marketing and access to financing and global markets. Traceability is a key enabler of digital transformation to automated and resilient supply chain services. In the markets where Traceability has been deployed such as China, sales increased by over 30% while consumer complaints dropped by 42%. It is just a matter of time for Traceability to become a must for ShopSafe compliance regulations, currently under review in the US.”
Privity LLE is a member of the Global Blockchain Council
Privity FZ LLE Founder Joins Panel: Paklaunch Webinar “The Nigeria~Pakistan Venture Corridor” on 4th December 2022December 5, 2022 - 2:13 pmThe Nigeria <> Pakistan Venture Corridor’.November 3, 2022 - 2:12 pm