BMW i Ventures has already invested in the company’s seed round and is co-leading this new round with Imagine Ventures, a Seattle-based venture capital firm.
Counterfeit products are a $2.3 trillion annual problem that continues to grow worldwide. By using outdated solutions, such as stickers, barcodes and QR codes, to identify products, businesses put themselves at greater risk of lost traceability and counterfeiting.
Alitheon’s patented FeaturePrint technology creates objects the way fingerprints are to people – a unique identifier that requires no modification of the object. By capturing an image of an item using a standard camera, FeaturePrint’s optical AI “sees” and provides minute details of the item in its unique profile. This results in better identification of the product among millions of others, which ensures the authenticity and origin of the product.
Earlier this year, Alitheon appointed Roei Ganzarski as its new CEO. He previously served as CEO of magniX and Executive Chairman of Eviation, two innovative companies in the aviation and travel industry.