Pangaea Ventures, Happiness Capital Invest In TruTag's Anti-Counterfeiting Tech Solution

TruTag Technologies, an authentication and technology solution for businesses and governments, announced the closing of a $7-million Series C funding round Thursday that was led by the venture capital firms Pangaea Ventures Ltd. and Happiness Capital Limited.

TruTag is a tracking solution that ensures the safety, security and quality of pharmaceuticals, food, machine parts and other products throughout the supply chain.

“Pangea is excited to partner with TruTag and help the company expand its team and product portfolio,” Matthew Cohen, Pangaea's director of technology, said in a statement.

“We believe TruTag’s edible barcode technology will help increase consumer confidence and ultimately save lives ... by utilizing compelling advanced materials and advanced material process innovations to combat rising problems such as drug counterfeiting."

The funds acquired, on top of an existing $25 million raised in previous rounds, will be used for the commercialization of TruTag’s product identity solution.

The company was named a "Technology Pioneer" by the World Economic Forum.

TruTag, in conjunction with its investors, said it will provide a platform with tools that have a positive impact on the wellness of people around the globe, increasing economic efficiencies in the legitimate commerce, non-counterfeit market.

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