Combating Counterfeit Drugs in India - Ennoventure

Developed Enncrypto as a non-disruptive solution for verifying the authenticity of product packaging

Inception- 2018

Location- Bengaluru & US

Founder- Padmakumar Nair (Chief Executive Officer), Shalini V Nair (Chief Technology Officer)

Total team strength- 40

Total funds raised -Rs 45 crore

Investors- Fenice Investment Group, US

Revenue generated since inception- NA

Key Highlights-

• Developed Enncrypto as a non-disruptive solution for verifying the authenticity of product packaging
• Encryption technology employs AI, cryptography and blockchain to add an invisible cryptographic code to the packaging
• Currently focusing its efforts on companies across diverse industries like FMCG, Pharmaceuticals, Agro-Chemicals, Luxury Goods in India
• Received 2 patents in the US
• Recognised by Microsoft for Startups
• A member of the International and Counterfeiting Coalition (IACC)
• Recognised as one of the innovative businesses among 24 other leading players and further, accepted into Mohammed Bin Rashid Innovation Fund (MBRIF) Accelerator Programme’s Cohort

Founder Speaks-

"We are currently focusing our efforts in pharmaceutical companies in India as it is a key market for the export of generic drugs and further plan to expand to the European and US markets."

-Padmakumar Nair, Co-founder and Chief Executive Officer, Ennoventure, Bengaluru

Published on : 24th May, 2022