#startupoftheday 36- Ennoventure

21 October 2021 | Features

Combating Counterfeit Drugs in India

Inception- 2018

Location- Bengaluru & US

Founder- Padmakumar Nair (Chief Executive Officer), Shalini V Nair (Chief Technology Officer)

Total team strength- 40

Total funds raised -Rs 45 crore

Investors- Fenice Investment Group, US

Revenue generated since inception- NA

 

Key Highlights-

  • Developed Enncrypto as a non-disruptive solution for verifying the authenticity of product packaging
  • Encryption technology employs AI, cryptography and blockchain to add an invisible cryptographic code to the packaging
  • Currently focusing its efforts on companies across diverse industries like FMCG, Pharmaceuticals, Agro-Chemicals, Luxury Goods in India
  • Received 2 patents in the US
  • Recognised by Microsoft for Startups
  • A member of the International and Counterfeiting Coalition (IACC)
  • Recognised as one of the innovative businesses among 24 other leading players and further, accepted into Mohammed Bin Rashid Innovation Fund (MBRIF) Accelerator Programme’s Cohort

 

Founder Speaks-

"We are currently focusing our efforts in pharmaceutical companies in India as it is a key market for the export of generic drugs and further plan to expand to the European and US markets."

-Padmakumar Nair, Co-founder and Chief Executive Officer, Ennoventure, Bengaluru

 

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