Sproxil to expand success to new domains
Since our 2010 pilot in Nigeria to protect Diabetes patients from buying fake treatments, we have expanded to five operations across three continents to protects products in over ten industries, including pharmaceuticals, beauty & personal care, and automotive parts. Our award-winning solution, Mobile Product Authentication™ (MPA™), has been recognized globally for protecting a vast array of important and life-saving drugs such as malaria treatments. To date, we have processed the most product verifications for a solution of our kind: we boast over 8.5 million consumer engagements.To further our vision of empowering consumers and improving societal well-being through technological solutions, we are happy to announce our receipt of a Netri Fund Loan.
The Netri Microfinance Fund was created in 2007 by the Netri Foundation to achieve social and financial returns, with capital appreciation supporting the foundation’s grant-driven development projects. The Netri Foundation’s activities are animated by a conviction that absolute poverty in the face of significant inequality is untenable, creating an imperative for those with resources to help.
The Foundation’s mission is to offer help and hope to the most disadvantaged, to the poorest of the poor, so that they can lead the dignified life all human beings deserve. Its mission is pursued by supporting a diverse scope of interventions to address the essential causes of poverty in a holistic manner.
The Netri Foundation supports philanthropic activities around the developing world, with a particular focus in Africa and Latin America.
The loan will be used for technology enhancements and expansion into new markets and the development of existing sales and marketing operations in India, Kenya, and Ghana. The Fund has calculated that the impact attributable directly to its investment is to enable over 400,000 people to verify their products, which extrapolating from the current incidence of issue alerts, could expose at least 13,000 counterfeit products.
For more information on the loan, visit the Netri Fund Loan website.