Saturday, January 28, 2023

Nigerian Startup Chekkit’s Anti-Counterfeiting Answer solidifies its base

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The common particular person doesn’t test the authenticity of their purchases. In truth, It’s estimated that counterfeit merchandise make up almost 40% of Quick Shifting Client Items and Pharmaceutical merchandise. This leads to losses to the trade of almost $300bn yearly. It is rather regarding that, in line with a WHO report, 100,000 individuals die yearly due to counterfeit antimalarial medicines in West Africa. These horror tales are the explanation serial entrepreneur Dare Odumade based Chekkit Applied sciences in 2018.  When a good friend associated their encounter with counterfeit medication the place a affected person had died after ingesting faux medicine. Dare sought to problem this, change the panorama, influence individuals and remodel the best way individuals traded and associated to merchandise within the course of.

 Chekkit has created a disruptive anti-counterfeiting software program as a service product that additionally serves as a Client Intelligence instrument. The Chekkit dashboard creates distinctive IDs for merchandise. The distinctive IDs are locked in a blockchain community and this then permits shoppers to confirm the authenticity of a product utilizing their cell phones. That is performed by scanning a QR  code or utilizing a USSD brief code over the client’s fundamental characteristic cellphone. Within the technique of authentication, clients may give manufacturers suggestions on merchandise and get rewards for that immediately.

 Whereas the frequent objective for reward applications has been to drive loyalty and long-term relationships with clients, Chekkit is taking it up a notch and utilizing rewards to collect information and extra significant insights into buyer habits. The beginning-up has attracted the eye of main manufacturers like Merck, Unilever, and different FMCG and Pharma corporations in Africa and protects over 10 million merchandise on cabinets right now. Chekkit at the moment affords two main merchandise to their B2B purchasers: A Client Intelligence annual license and machine studying Picture recognition. They’ve served, protected, and engaged over 200,000 shoppers straight and function in Nigeria and Afghanistan.

 Chekkit closed a $500,000 pre-seed funding spherical for its operations earlier this yr and is about to extend its attain throughout the continent. The market alternative is super and with thrilling partnerships with some notable telecommunications corporations within the pipeline, the startup will quickly penetrate international locations like Ghana, Ethiopia and Senegal.





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