Chekkit, a Nigerian startup, has raised extra funds to help scale its blockchain-powered medicine safety and tracking service.
Chekkit, a platform that tracks product movement and the parties engaged in transporting products from the warehouse to the distributor and then to the final consumer, was founded in 2018.
The platform makes unique ID labels that can’t be changed, such as QR codes or numeric codes that can be put on expensive packaged food and drinks to track the supply chain and get customer feedback.
Chekkit has helped secure more than 50 million pharmaceutical and consumer goods products. It is expected to grow even more now that Nigeria’s National Agency for Food and Drug Administration and Control (NAFDAC) has ordered that pharmaceutical products implement end-to-end serialization and traceability by the end of 2024.
Chekkit has acquired an undisclosed amount of funding from Adaverse, a Cardano ecosystem accelerator, with involvement from current investors, to assist in capitalizing on this potential.
The Chief Executive officer of Chekkit Dare Odumade said that the company has partnered with SAP and combined its pharmaceutical traceability and consumer intelligence solution. This will allow pharmaceutical brands using SAP’s Advanced Track and Trace Platform to collect and analyze last-mile patient data.
The company has also added the GS1 global standards system, which makes its software for serialization legal in more than 100 countries worldwide.
Chekkit will be able to add more makers in Nigeria and other parts of Africa with the new money. It will also be able to grow into new markets in India, the UK, and the Middle East.