No more worries about counterfeiting!

What is the startup about?

George Eastman’s Kodak Co. cameras which were built in 1888 are long gone but the company is planning to mark its colophon on all the products starting from cigarettes to shoes. Kodak has always been keen in providing more than hundreds of researches, patents. It is now helping Miami-based startup, eAperion- a company that will fight against fake products, with a technology that would place invisible digital traceable marker on products to certify they are authentic.

Reason behind eAperion

eAperion was launched last month. According to the Organization for Economic Cooperation and Development, in 2013, all the fake goods globally accounted to half a trillion. Their report also states that out of all this, 84 percent of detained goods originate in China and Honk Kong. This results in brand erosion as well as loss for the company. The government also loses lot of tax revenues because of this.

More about eAperion

The Miami-based startup will pinpoint its research, engineering and manufacturing operations in Kodak’s business park in Rochester, New York. More research will be done in the labs of Shanghai and Tel Aviv. China’s largest e-commerce company, Alibaba Group Holding Ltd. will be also investing in the startup. Along with Jeff Clarke, CEO of Eastman Kodak Company; President Michael Evans will be also sit on the board.

Right now the company has less than 50 employees and is planning to expand quickly. Charles Fernandez, CEO, says that he will triple the company revenue in the next two years.

Takeaways:-

• eAperion will provide a technology that would place invisible digital traceable marker on products to certify they are authentic.
• In 2013, all the fake goods globally accounted to half a trillion.
• Alibaba Group Holding Ltd. will be also investing in the startup.

Charles Fernandez, CEO, says that he will triple the company revenue in the next two years.