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Nigerian anti-counterfeiting startup Chekkit has secured additional funding to help it scale its blockchain-powered drug safety and tracking solution. Adaverse, a Cardano ecosystem accelerator led the round with participation from RTA, HoaQ, Launch Africa Ventures, and Blockchain Founders Fund. The funds will help Chekkit onboard more manufacturers across Nigeria and other regions in Africa, while also expanding to new markets in India, UK and the Middle East.
Chekkit has built a platform that tracks product movement and the parties involved in the transfer of products from warehouse to distributor, and on to the final consumer. It produces tamper-proof unique ID labels, either as QR codes or numeric codes, which can be placed on premium packaged food and beverage products for supply chain and consumer feedback tracking.