Oritain, the global leader in forensic traceability, has raised $57 million in a Series C funding round led by Highland Europe and supported by Series B lead investor New York’s Long Ridge.
WHO: New Zealand start-up Oritain is the leading forensic traceability company, combining forensic and data science to provide data-driven insights on the true origin of goods and commodities. Over 100 global customers rely on Oritain’s technology to verify their supply chain and protect their products in international markets. Using technology developed at the University of Otago, Dunedin, the company can create a unique fingerprint from products worldwide and prove their provenance. As well as providing tools to verify the legitimacy and provenance of a product, Oritain partners with companies to comply with ESG criteria, something investors increasingly demand.
WHY: Oritain provides data-driven insights to help producers and manufacturers to monitor and adapt their supply chain to safeguard and improve transparency. New funding led by Highland Europe will enable the company to accelerate its go-to-market plans for current and new products.
IN THEIR OWN WORDS: Grant Cochrane, Global CEO at Oritain, said, “Over the past 15 years, Oritain has pioneered groundbreaking forensic and data science to become the world’s most trusted verification partner to leading global brands and institutions, providing them with the insights they need to make the critical decisions on their supply chains. Our relentless focus on data, science, and process integrity has enabled us to become long-term partners with our clients to ensure the integrity of their supply chains, which is increasingly difficult to achieve in globalized and complex markets. We’re delighted to announce this new funding round, led by Highland Europe, to support our expansion plans as we reach new markets and industries.”
Jacob Bernstein at Highland Europe said, “Oritain’s forensic science can take a commodity sample and tell you precisely where in the world it comes from. Does this cocoa come from a deforested national park? Is this cotton from where my supplier says it is? Is this coffee truly Brazilian, as the label says? This groundbreaking technology is a dream solution for sourcing and sustainability leaders at the world’s largest brands who can finally get to grips with the authenticity of their supply chains. We are immensely proud to partner with the Oritain team to revolutionize origin verification.”
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