Verofax partners Twin Science and LikeToBe to Sponsor Antarctic Research on Sustainability

Verofax, a Smart serialization and traceability solution provider, has joined forces with children’s STEM app Twin Science and LikeToBe in sponsoring a scientific expedition to Antarctica to research the effects of microplastics on life, the environment and the melting of ice caps.
Verofax, Twin Science and LikeToBe share the common aim of providing “Tech for humanity”, and partnered in support of the scientific expedition to Antarctica. Polar Explorer Antony Jinman, the twelfth Briton to have skied to the geographic North Pole and skied solo to the geographic South Pole, led the expedition in December 2021, and spent 2 months in Antarctica gathering data on how microplastics are affecting the environment and wildlife.

The aim of this partnership’s collaboration is to inspire young children to act responsibly by re-educating them on responsible consumption in line with UNSDG goal #12, through gamification and turning children into advocates of sustainability for influencing older generations.

Antony documented the expedition and answered children’s questions in a series of interactive videos via the Twin Science app for children aged 7-12, hoping to encourage them to seek answers to questions such as “What are Microplastics, where do they come from and how does it affect life and the environment?”, “What would happen to the Antarctic habitat if all the ice caps melted?” and “What can we all do as responsible individuals?”

“This expedition to Antarctica is really promising and aims to provide insights on microplastics impact on life and the environment,” stated Antony. “We are happy to be partnering with Twin Science and Verofax to engage children on the expedition and the many challenges we faced to collect scientific evidence. Twin Science’ in-app education and Verofax’ sustainable lifestyle tracker are great vehicles to drive awareness on how to act responsibly and opt for greener choices.”

Wassim Merheby, CEO of Verofax, explained, “Our solution enables transparency and auditability on consumer goods’ sustainable credentials. Sustainable brands can now engage with consumers and retailers and upsell their certified “Green” range of products, while retailers and consumers are empowered to check and validate product lifecycle assessment before purchasing, interact with the product and advocate sustainable brands among peers. We believe this process begins naturally with sustainable education for youth, and as gamification which is a very powerful medium.”

Asude Altintas, CEO and co-founder of Twin Science, says “This is a new approach to education. First, it excites us immensely to bring young ‘Twinners’ through our Twin Science app, along for this incredible journey to Antarctica and have them overcome challenges with Antony in real-time. Secondly, with Verofax, we want to not just tell, but show children how real climate change is, and that they themselves can take action to combat this.

“In the Twin app, all our content aims to show children how to use STEM for good, and we believe this is a great opportunity to do so. To date, we have had over 500,000 children use our STEM kits and STEM apps or attend our STEM workshops, and we have seen them use their know-how to invent earthquake detectors, reforestation robots, or ocean cleaning ships. We hope that what they experience on this journey will inspire them to revert the effects of climate change one day.”

Prof Dr Ger Graus OBE, the Project and Education Advisor to this partnership, explained, “As someone who is a firm believer in introducing children to the wonderful role models who provide inspiration and aspiration, I am confident in this partnership’s ability to have true social, environmental, and sustainable impact.”

Expedition to Antarctica at https://twitter.com/twin_science/status/1475195508738170884.

About Verofax

Founded in 2018, Verofax blockchain-powered ‘Traceability as a Service’ solution enables brands to validate their sustainability claims with a repository of credentials, while bringing their products to life with unique digital IDs offering immersive customer experiences. Verofax helps brands to upsell their sustainable product range based on sustainable rating metrics, which includes 6 data points in line with UNSDG Goal No.12.

Verofax Limited has received investment from global investors such as Benson Oak Ventures, Wami Capital and 500 Startups, totalling $3.0M. Verofax is a Microsoft Gold partner, co-selling on enterprise solution platforms such as Microsoft AppSource, Amazon AWS and Alibaba’s AntChain. For more information, visit https://www.verofax.com/industries/sustainability/ or Email info@verofax.com.

About Twin

Twin Science & Robotics is a new-generation edtech startup that empowers children with 21st century skills and provides STEM education with a humanitarian perspective through its physical and digital products. The company started within the scope of YGA’s World Science Movement, a social responsibility project that organized science workshops throughout Anatolia. Twin was incorporated in October 2017 and has raised $2.5M seed-round to date. Staying loyal to its NGO roots, Twin donates part of its revenue to social responsibility projects. For more information, visit https://www.twinscience.com/en/what-is-climate-change-for-kids/.






Topic: Press release summary

MoU Between Verofax Asia and Distichain to Enable Empowered Digital Global Trade

Under the patronage of YB Tan Sri Datuk Seri Panglima Haji Annuar Bin Musa, Malaysian Minister of Communications and Multimedia, and with the participation of Malaysia Digital Economy Corporation (MDEC), a Memorandum of Understanding (MoU) was signed on January 12th, 2022, between Capt. Koh Chen Tien, Chairman of Verofax Asia, and Mr. Haisam Jamal, CEO of Distichain. The event took place at the Address Dubai Marina, where attendees from around the world were present for the opening of Malaysia Digital Week, taking place at Expo 2020 in Dubai, UAE.
The aim of the MoU is to create the first digital ASEAN B2B cross-border trade platform to facilitate a potential of RM 50 Billion Malaysian trade internationally with seamless digital transactions over the next 5 to 10 years. The collaboration between Distichain and Verofax Asia will offer a platform that delivers Digital B2B marketplaces as a service (MAAS) to enterprises by offering full marketplaces or through API integration.

Using blockchain and AI as core technologies, the platform digitizes global trade with end-to-end transactions through its ecosystem of supply-chain, verification, and trade finance providers. The solution enables suppliers to readily plug their catalogs, update product data, manage routes and orders, verify documentation and access aggregate financing and logistics all in one place. This unique platform that simplifies, secures, and empowers every participant in a trade.

“The signing of this MoU is an important step for Distichain’s ambition to continue the further development and expansion of its solution. We are especially pleased to be taking this step alongside our partner Verofax Asia, and impact the ASEAN trading industry with rapid digital transformation through our one-day marketplace activation approach,” said Mr Haisam Jamal.

Captain Koh added, “This platform will instantly digitalize the entire export and import process in governmental, non-governmental enterprises as well as SMEs. It will generate low-cost opportunity to digitize processes, introduce trade finance and automate supply-chain across all industries, accelerating economic growth in Malaysia and the ASEAN region. Through this partnership agreement signed today, we will further develop our technologies to meet the ongoing digitalization of international trade. Verofax Asia will have a massive impact on the performances of exports and imports with rapid digitalization, all the while building a resilient digital infrastructure and foster innovation for the recently signed Regional Comprehensive Economic Participation (RCEP) Trade Agreement, which came into effect on 1st January 2022.”

About Verofax:
Verofax utilizes patented technology incorporating Blockchain, Augmented Reality and Artificial Intelligence to provide ‘Traceability as a Service’, enabling brands to turn their offline products interactive, and manage their entire supply chain to trace goods, fend off counterfeit activities, and improve manufacturers’ productivity. Brands can extend their reach directly to end-consumers, thereby increasing consumer intimacy with direct engagement, and leveraging the boom in NFTs and metaverse experiences. Visit: www.verofax.com, or Email: info@verofax.com.

About Distichain:
Distichain delivers B2B marketplaces as a service (MAAS) to customers using blockchain and AI, digitizing global trade with end-to-end transactions through its ecosystem of supply-chain, verification, and trade finance providers. SMEs and enterprises alike benefit from automated transactions governed by the system to deliver door-to-door border agnostic trading, with on-platform trade compliance present rules. Using smart contracts, Distichain ensures the highest levels of data privacy, and by connecting to innovative solutions within Fintech and Supply Chain, it facilitates transactions backed by instant trade finance with zero email trading. Distichain’s objectives are to simplify cross-border trading, secure end-to-end transactions, and empower decision-makers with real-time AI analytics. Visit: www.distichain.com, or Email: info@distichain.com.






Topic: Press release summary

Verofax secures $1.5M in pre-Series A to expand its Traceability as a Service Offering

Verofax Limited, an Asset Digitization and Traceability solutions provider, today announced closing a $1.5M pre-Series A round by international investors led by Benson Oak Ventures, with 500 Startups, Wami Capital and Vernalis Capital completing the group.

Verofax utilizes patented technology incorporating Blockchain, Augmented Reality and Artificial Intelligence to provide ‘Traceability as a Service’, enabling brands to turn their offline products interactive, and manage their entire supply chain to trace goods, fend off counterfeit activities, and improve manufacturers’ productivity. Brands can extend their reach directly to end-consumers, thereby increasing consumer intimacy with direct engagement, and leveraging the boom in NFTs and metaverse experiences.

The funds will be used to expand the Company’s sales and marketing activities on a global level, ahead of a planned Series A round later in 2022. Verofax solutions are applicable to a wide range of industries (Retail and CPG) and are already used by leading brands such as Anheuser Busch Inc. Verofax is a Microsoft Gold partner, and has secured a global network of distributors and resellers, and co-selling on enterprise solution platforms including Microsoft Appsource, Amazon AWS and Ant Group Antchain.

Wassim Merheby, CEO of Verofax, said: “Our solution helps brands turn their products into a direct-to-consumer communication channel and deliver amazing experiences to drive growth and boost loyalty while also promoting greener product choices and ESG auditability. Verofax also helps turn give-aways into collectible and tradeable NFTs, interoperable across several metaverse environments. We are thrilled to be joined by investors that will help accelerate our growth trajectory through their collective expertise, network, and leadership.”

Robert Cohen, Managing Director of lead investor Benson Oak Ventures, said: “We have a very specific investment thesis that brands will leverage Web 3 & NFTs to reinvent their engagement & business models with consumers, creating entirely new service categories. Verofax has demonstrated early product market fit, leveraging its proprietary technology to sell its Traceability solution to many different types of brands and help them navigate this new world. We have been incredibly impressed by Wassim and the whole Verofax team, and thrilled to be making this our first investment in the UAE.”

Chetan Mehta, CEO of Wami Capital, said, “Verofax Blockchain-based traceability and validation solution empowers brands in the consumer goods and retail industry to promote sustainable products and allows consumers to choose greener brands and enjoy immersive experiences. Verofax traceability prevents counterfeiting in the supply chain across pharmaceutical, manufacturing, consumer, retail and logistics. We look forward to working with Verofax team to accelerate the adoption of their solution across our ecosystem.”

About Verofax
Verofax is a blockchain-enabled Asset Digitization and Traceability solution provider with a presence across North America, Europe, Asia and MEA regions. Verofax’s solution is available across multiple cloud environments, helping businesses transform its physical products to interactive, and enable meaningful engagements with immersive user interfaces. For technical matters, visit Verofax at https://www.verofax.com or contact info@verofax.com.

About Benson Oak Ventures
Benson Oak, with a new office in Abu Dhabi, is a venture capital firm with 20 years experience in Europe, the US and the Middle East, with an increased focus on Web3 and ‘passionware’ – where everyone is a business. Investments have included Internet security leader AVG, video marketing platform Promo.com, crypto wallet ZenGo and HCM platform Harri. http://bensonoakventures.com.

About Wami Capital
Wami Capital, a single-family fund, focuses on supply chain activities of the Transworld Group. https://wamicapital.com.

About 500 Startup Sanabil MENA Fund
500 Startups (500), one of the most active global early stage venture capital firms, has partnered with Sanabil Investments, a financial investment company focused on global private investments in venture capital, growth and small buyout. This follows the recent announcement of the establishment of 500 Startups’ new MENA regional headquarters in Riyadh. https://ecosystems.500.co/sanabil500accelerator.

About Vernalis Capital
Vernalis Capital is the family-owned investment company of Bala Chandra, founder of Vernalis. Vernalis Capital believes in providing entrepreneurs strategic leverage and seeks to build an ecosystem of synergistic companies which helps entrepreneurs pursue their own vision and goals while being supported wherever required. With a strong global network of partners and alliances, Vernalis Capital opens access to global managerial talent and mutually beneficial networking opportunities. https://www.vernaliscapital.com.






Topic: Loans & Financing

Tracer and Verofax usher Food Traceability and Sustainability to UAE with Blockchain-based Management Platform

Tracer Tech, headquartered in Sharjah Research Technology and Innovation Park (SRTIP), UAE, is set to launch its new food safety and traceability application, powered by leading asset management provider Verofax.
Tracer’s food safety solution enables CPGs (consumer packaged goods) and retailers to engage with consumers directly by making products that are digitally enabled and verifiable. Built on top of Verofax’s blockchain-based traceability platform, the Tracer App empowers consumers to choose food items based on their personal preferences such as freshness, sustainability and ethical sourcing, in a differentiated interface that drives satisfaction and loyalty. 70% of shoppers value traceability according to a recent survey, and are willing to pay a premium for brands that offer such functionality.

Capitalizing on a fast-growing fine food market that’s expected to hit $160+ bn this year, Tracer is also launching its own fine-food marketplace with traceability as a cornerstone of the offering. Traceability offers granular visibility and analytics to allow Tracer marketplace to optimize operations, storage conditions, and logistics to prevent wastage of high-value food items imported from around the world, reducing negative footprint resulting from wasted and expired products throughout the production to consumption cycle. The Tracer marketplace also ensures authentic and certified food items with traceability from source and condition of storage in transit, to be checked on Blockchain records before purchase.

Khalid Roumieh, Co-founder and CEO of Tracer, concurred on the univocal demand for traceability solutions saying “Traceability plays a key role in meeting changing shopper needs, advanced product marketing and access to affluent consumers. However, much of the ecosystem stood fragmented until now, as retailers did not have access to immutable data records on a single repository empowering retail and consumers with access to check before they buy. Traceability is accelerating fast with digital technology providers, CPG brands and retailers teaming together to facilitate omni-channel experiences based on consumer data analytics.”

Tracer had partnered with PLM, a retail specialist in the Middle East, to create a retail studio environment, which is showcasing what the future beholds for the retail industry. Mr. Roumieh further remarked, “Verofax solutions on Blockchain hosted on Azure, SAP and AWS offers our clients complete data security and automation of operations to increase operational efficiency.”

“Verofax is one of the first blockchain-based traceability platforms in the region, helping brands to turn their products digitally-enabled and engage directly with customers to boost loyalty. Validated certificates and product tracing will accelerate brand growth and create opportunities through direct marketing and channel transparency,” said Wassim Merheby, CEO at Verofax.

Verofax is supported by leading technology platforms. In partnership with Verofax, Tracer is helping the industry realize a new vision of a digital and verifiable food marketplace built on Blockchain, empowering customers with validation.

About TRACER
TRACER is a start-up with a mission to provide solutions that improve processes and deliver growth. Beyond food and retail-tech solutions, TRACER provides cold-chain solutions for logistics providers, and offers its own fine food marketplace. Visit www.tech-tracer.com or contact them on sales@tech-tracer.com.

About Verofax
Verofax is a Digital Asset Management solution provider, validated and available across Europe, Asia and the Middle East over multiple cloud environments, helping businesses achieve sustainable supply chains, one-to-one engagement with customers, and complete traceability across operations. Verofax is partnered with Microsoft Azure, AWS and SAP. Visit www.verofax.com or email info@verofax.com.


Topic: Press release summary