The seed funding will propel its expansion in Asia, launch a marketing campaign, among other new forms of expansion.
Automation and traceability platform, Verofax, has announced a raise of $1.2 million in seed funding in a round led by Trove Capital UK, and joined by MFD Holding, Kepler Fund Managers, and Casablanca Holding.
Launched in 2018 by Jamil Zablah and Wassim Merheby, the company offers an automation and traceability service that helps businesses avoid counterfeit, link manufacturers with customers, and gather data insights. Along its list of achievements, the startup has also been approved as a co-sell partner by Microsoft, Oracle, and AntGroup.
With the new funding, the UAE-based startup will launch a marketing campaign in F&B, healthcare, and apparel. It will be able to port its platform onto Microsoft Cloud, hire new employees, and support its recent expansion into Asia and Africa in late 2020. With its new office in Kuala Lumpur, Verofax has partnered itself with retailers in Asia as well as set up JVs in Asia, Africa, and the Gulf.
Learn more about Verofax here.
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