Chekkit Announces Completion of Financing Round for Blockchain Anti-Counterfeiting Solutions

04/19/2023 09:21 • Digital Disruptors • 67 views

On April 19th, Chekkit, a blockchain anti-counterfeiting solution provider, announced the completion of a new round of financing, led by Adaverse, a Cardano ecological accelerator, and participated by RTA, HoaQ, Launch Africa, and Blockchain Founders Fund. The company did not disclose the specific financing amount, but reportedly reached several million dollars. Chekkit mainly provides DAG blockchain anti-counterfeiting solutions for food and drug supply chain tracking, providing manufacturers with product serialization and traceability services that meet global standards.

Blockchain anti-counterfeiting solution provider Chekkit completes a new round of financing

Chekkit, a blockchain anti-counterfeiting solution provider, announced on April 19th the successful completion of a new round of financing. The financing round was led by Adaverse, a Cardano ecological accelerator, and included participation from RTA, HoaQ, Launch Africa, and Blockchain Founders Fund. Although the specific amount of financing was not disclosed, reports suggest it was in the high millions of dollars.

What is Chekkit?

Chekkit is a blockchain anti-counterfeiting solution provider that mainly provides DAG blockchain anti-counterfeiting solutions for tracking food and drug supply chains. They offer manufacturers product serialization and traceability services that meet global standards.
Chekkit’s solution records a product’s entire lifecycle, from production to sale, on the blockchain. The records cannot be tampered with, providing an immutable source of truth for the product’s authenticity. The solution also allows for easy tracking of products, improving the efficiency of supply chains.

Chekkit’s DAG Blockchain Solution

Chekkit’s DAG blockchain solution is built on top of the Cardano blockchain. DAG, or Directed Acyclic Graph, is a more efficient form of blockchain technology that allows for faster confirmation speeds and lower transaction costs. Chekkit’s solution is ideal for tracking supply chains due to its low cost and high speed.

The Financing Round

Chekkit’s successful financing round is a testament to the growing importance of blockchain technology in the fight against counterfeit goods. The funds raised will be used to develop and expand Chekkit’s anti-counterfeiting solutions, improving their ability to safeguard the supply chain.
Adaverse, the Cardano ecological accelerator that led the round, is a firm that supports projects that are integrating with the Cardano blockchain. By participating in the financing round, Adaverse is signaling its support for Chekkit’s use of the Cardano blockchain in their anti-counterfeiting solutions.

Other Participants

In addition to Adaverse, Chekkit’s financing round included participation from RTA, HoaQ, Launch Africa, and Blockchain Founders Fund. These firms are all invested in the future of blockchain technology, and their investment in Chekkit demonstrates their belief in the potential for blockchain-based solutions to combat counterfeiting.

Conclusion

Chekkit’s successful financing round is a significant milestone for the company and the wider blockchain-based anti-counterfeiting industry. The funds raised will drive further development of their DAG blockchain solutions and help combat the growing threat of counterfeit goods in the global supply chain.

FAQs

1. What is Chekkit’s solution for tracking supply chains?
Chekkit’s solution records a product’s entire lifecycle, from production to sale, on the blockchain, providing an immutable source of truth for the product’s authenticity.
2. What is DAG blockchain technology?
DAG, or Directed Acyclic Graph, is a more efficient form of blockchain technology that allows for faster confirmation speeds and lower transaction costs.
3. Who participated in Chekkit’s financing round?
Chekkit’s financing round included participation from Adaverse, RTA, HoaQ, Launch Africa, and Blockchain Founders Fund.

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