BrandWatch Technologies, a Portland, Oregon-based provider of brand security and product authentication solutions, has raised $3.3m in funding.
Backers include both new and existing investors, who remained undisclosed.
The company intends to use the funds to expand sales into new markets and support new product development.
Established in 2001, and led by CEO Phil Huff, BrandWatch Technologies develops taggants (microscopic particles) with DNA markers that businesses and governments use to track products and high-security documents. They can be used in inks, plastics, textiles and other materials and can be manufactured to identify specific companies, products, or even lots in a supply chain.
The company also makes proprietary detection devices to “read” these taggants (which are invisible to the naked eye) so counterfeits in packaging or products in categories as diverse as pharmaceuticals, agriculture, electronics, aircraft and automobile parts, wine and spirits, gaming, and fashion, can be identified.
FinSMEs
30/10/2011