The latest funding infusion, spearheaded by Highland Europe, will enable Oritain to accelerate its go-to-market plans for both existing and new products. This strategic investment will support the company’s expansion into new markets and industries, propelling its forensic origin technology to new heights.
Oritain’s technology utilises state-of-the-art forensic science and data analysis to analyse the intrinsic properties of a product, effectively verifying its origin. By leveraging its capabilities, Oritain can verify the origins of products ranging from cotton and coffee to food and fabric, enabling over 100 global customers, including renowned brands such as Nescafe and Lacoste, to safeguard their supply chains and protect their products in international markets.
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By examining trace elements influenced by environmental factors such as soil composition, climate, altitude, and precipitation, Oritain’s global labs create a unique origin fingerprint for each product. These fingerprints are stored in industry-leading databases, serving as benchmarks to audit products at any point in the supply chain. This comprehensive approach empowers companies to market the authenticity and quality of their products, mitigating risks associated with fraud.
The technology company addresses the challenges of global supply chains by providing producers and manufacturers with data-driven insights to monitor and optimise their supply chains, ensuring transparency and certainty for clients worldwide.
Furthermore, Oritain collaborates with companies to support their adherence to environmental, social, and governance (ESG) criteria, which are increasingly demanded by investors. As countries worldwide implement new transparency and reporting regulations in alignment with Sustainable Development Goals, addressing concerns such as deforestation, forced labour, and product fraud, companies that can demonstrate the authenticity, quality, and sustainability of their products and supply chains gain a competitive advantage by exemplifying high ethical standards.
Grant Cochrane, global CEO at Oritain said: “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 globalised 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.”
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By GlobalDataJacob Bernstein from Highland Europe emphasised the transformative potential of Oritain’s forensic science and added: “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 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 revolutionise origin verification.”
