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Launched in Nigeria and Afghanistan, Chekkit raises $500k to authenticate and track products globally

Launched in Nigeria and Afghanistan, Chekkit raises $500k to authenticate and track products globally
August 12, 2021 ObadeYemi

Unsuitable remedy are a global threat that abolish over a million of us yearly. The World Health Organization reported in 2017 that 10% of all medicines in low-to-middle income countries are execrable or false and Africa accounts for 42% of all reported instances.

This train is rife in Africa and this has ended in the upward thrust of tech startups proffering solutions to clear up the difficulty. Chekkit, one of many startups at the forefront of saving lives by combating this pandemic, is announcing a pre-seed funding spherical of $500,000 to present a boost to its technology.

Founded in 2018 by Dare Odumade, Chekkit is a Nigeria-basically basically based B2B machine company providing product authentication and distribution monitoring solutions to FMCGs and Pharmaceuticals. Their technology helps to close patrons from procuring or using false merchandise. It also offers customer engagement and suppose advertising and marketing and marketing tools for its customers. 

Seeing is believing, a answer constructed out of a shocking expertise.

Earlier than initiating Chekkit, Odumade had witnessed the awe of false remedy and how they’ll painfully close lives. He used to be present when any individual died in his neutral appropriate friend’s pharmacy in Ghana, the patient’s kidney used to be ruptured because taking false antimalarial remedy.

After the sad and shocking match, he gathered a tiny personnel to launch market study in Accra, they learned that patrons are no longer fervent on counterfeits or the danger they pose. Particularly, the effects of falsified remedy can poke undetected for prolonged intervals until it has eaten deep into the user’s machine. 

“We then made up our minds to score an authentication machine powered by decal labels that verify medicines,” Odumade told TechCabal. “The stickers savor encrypted USSD code to dial, QR code to scan, and aggregated and processed surveys which patrons answer at some level of the authentication job to directly receive a reward,”

They created a easy answer to clear up an substantial train. Here’s how it if truth be told works: after procuring a remedy product or meals, customers can dial on the U.S. codes on the stickers or scan the QR code on the pack to score an authentication notification. When they enact this they are also  rewarded with airtime, assume getting rewarded for avoiding a imaginable ruptured kidney. 

Odumade says customers score ₦100 ($0.2) value of airtime after they verify 5 merchandise with Chekkit labels and answer the watch questions.

A avenue remedy market/provide: BBC

Opportunity meets readiness, from Yaba to Kabul.

Over the previous couple of years, Chekkit has helped offer protection to patrons and producers in Nigeria and nowadays in Afghanistan from the hazards of false merchandise by providing the patrons with a trend to title accepted merchandise.

It’s no longer current to hear of Nigerian startups rising to Afghanistan, so why Afghanistan? 

“The chance presented itself via our partnership with the Fantom (blockchain) foundation personnel. The Afghanistan authorities used to be urgently trying to search out how to decrease the unfold of false pharmaceuticals in the country, and Chekkit is the ideal answer to their train,” Tosin Adelowo, Chekkit’s CMO told TechCabal.

Chekkit says that it has now secured over 7 million pharmaceutical merchandise, edifying over 200,000 patrons, and expanded its partnership with the Afghan authorities for the verification and monitoring of over 200 million merchandise in the Center-Eastern country. 

Working with prime global pharmaceutical firms savor Merck, Royal Critical person Pharma, Nabros Pharmaceutical, has contributed very a lot to Chekkit’s verbalize. Chekkit also works with FMCGs savor Indomie, Nivea, Flour Mills of Nigeria Plc, and plenty others., serving to them score nearer to their patrons using its level-of-sale person engagement answer.

The company acknowledged in a statement that it if truth be told works closely with the authorities and NGOs, “we deployed a Covid-19 engagement answer in partnership with the African Union and the AfricaCDC, and we’re continuously working with regulatory and standardization our bodies savor NAFDAC, GS1, and the FCCPC to be sure that that the merchandise we use are edifying and of the greatest requirements for consumption.”

The first institutional funding after riding on grants and bootstraps since launch. 

Inaugurate Africa, Japan Strategic capital, and Blockchain Founders Fund led this $500,000 funding spherical. Two syndicate groups of angel investors also participated and a grant from the Orange Corners program performed the spherical.

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“Investing in Chekkit Technologies used to be a no-brainer, they are tackling the scourge of false remedy in Nigeria and exact via emerging markets globally,” Biola Alabi, co-chief of one of many angel syndicate groups, acknowledged about backing Chekkit. 

In step with the company, they don’t seem like entirely taking Alabi’s cash. She’s going to also be joining the company’s advisory board in articulate that they’ll leverage her years of expertise in media and verbal replace and industry expertise to scale. Alabi at level to sits as a non-executive director at Unilever Nigeria Plc.

The startup will use the funds to present a boost to and expand its technology and hire more innovators to affix their “marvelous quest” so that they’ll carry out their projection of straight away protecting as a lot as 100 million lives exact via the globe.

“We’re mountainous-pumped referring to the future as we score nice looking technology to present protection to the lives of millions and straight away give a boost to the act of doing commercial for a number of brands by studying about patrons in the largely informal African markets,” Odumade acknowledged in a statement.

One train is definite, Chekkit must the touch the total provide chain of their client’s agencies and abet them score even nearer to their customers, this design. It’ll be hard for falsified merchandise to infiltrate.

“We would be launching the valuable person intelligence machine-as-a-carrier for person brands to score close-to-close loyalty campaigns, mixture engagement recordsdata and distribute rewards in-dwelling and with their advertising and marketing and marketing agencies for the valuable time ever, enabling patrons to straight away savor interplay with brands via QR and USSD shortcodes printed straight away on the product equipment,” Odumade added.

In 5-10 years, the company plans to savor impacted spherical one billion lives and be the main tangible product authentication and distribution monitoring technology in the enviornment. Built out of Ghana, launched in Nigeria and now extended to Afghanistan; about 4,104 miles some distance from dwelling. It’s entirely a subject of time sooner than the comfort of the enviornment feels the impact of Chekkit.

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