New Zealand-based Oritain, a firm that provides businesses with a forensic traceability solution, announced on Wednesday, that it has secured $57M (approximately €51.72M) in a Series C round of funding.
The investment was led by London-based Highland Europe, with Jacob Bernstein from Highland joining the board. The round also saw participation from an existing investor, New York’s Long Ridge.
Jacob Bernstein says, “Oritain’s forensic science can take a commodity sample and tell you precisely where in the world it comes from. Does this cocoa come from a deforested national park? Is this cotton from where my supplier says it is? Is this coffee truly Brazilian, as the label says?”
“This groundbreaking technology is a dream solution for sourcing and sustainability leaders at the world’s largest brands who can finally get to grips with the authenticity of their supply chains. We are immensely proud to partner with the Oritain team to revolutionise origin verification,” adds Bernstein.