SG-based ID Capital takes part in $4.2m round for Swiss firm ScanTrust

Image from Scan Trust portal

Swiss firm ScanTrust, an IoT platform for supply chain transparency, has raised $4.2 million in a Series A funding round led by Credit Suisse owned SVC-Ltd, with participation from venture capital investors that include Singapore-based ID Capital among others.

In an announcement on Thursday, the anti counterfeit startup ScanTrust said, it will use the new investment to further scale-up support and delivery of its supply chain projects with Global Fortune 1000 companies worldwide, as well as develop new features, expand business intelligence capabilities and fuel expansion into new verticals.

Apart from ID Capital, other institutional investors joining the round include innogy Ventures, the venture arm of Europe utility company innogy SE, MIT alumni venture fund Castor Ventures, VC fund of Privilège Management SA, as well as existing investor SOSV and other strategic investors in the printing and packaging industry. Meanwhile, Zurich-based Helvetica Capital AG acted as the exclusive investment advisor to SVC-Ltd.

ScanTrust provides a cloud-based IoT platform that connects individual products to the internet using its patent-protected technology for secure unique identifiers.

Consumers and inspectors can use their phones to scan secure QR codes on products and receive real-time data about their authenticity and origin. This gives companies visibility into their supply chains so they can monitor the flow of goods, conduct mobile product authentication, and engage consumers.

At the same time, the company has announced the appointment of IT entrepreneur, advisor and investor Jürgen Bauer to the Board of Directors at ScanTrust.

The investment round follows the launch of several large-scale projects by ScanTrust with Global Fortune 1000 food & beverage companies, in addition to global roll-outs of over 7,000 SKUs with industrial goods firm Leybold.

“Consumer trust is fast becoming the primary driver of brand loyalty and companies providing increased transparency are being rewarded by their customers,” said Nathan J. Anderson, CEO and co-founder of ScanTrust.

Cross-border supply chains are increasingly becoming complicated and their is also a rapid growth of counterfeit goods. As a result, new digital tools are required to secure their supply chains and allow greater visibility at each stage, from sourcing to production to consumption.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.