The company's FeaturePrint technology is designed to transform how objects, components, and finished products are authenticated, tracked, and traced across supply chains and distribution systems. Any individual item, once registered by the company's optical artificial intelligence system, can be subsequently identified wherever it exists to verify authenticity, determine place and time of origin, detect signs of tampering, measure wear and identify grey market and counterfeit products including unauthorized "over runs" and previously rejected products.
"A FeaturePrint registration or authentication can be performed in milliseconds at industrial production speeds without human involvement using off-the-shelf hardware integrated at any step throughout manufacturing and distribution," says Scot E. Land, Alitheon's CEO and Co-Founder. "Our mission is straightforward: to create enduring trust among manufacturers, suppliers, distributors, and customers."
The company says it has 34 issued patents with many more pending, and its founders have three decades of experience developing expert and AI systems for identifying product tampering, counterfeiting, and security threats. The company's founders helped create the first machine vision-based explosives detection systems and have also developed fraud detection systems, satellite image analysis software, and other mission-critical automated systems for governments, corporations and non-profits worldwide.
Marcus Behrendt, Partner, BMW i Ventures, one of the participants in the financing says, "Alitheon's ability to identify an item using only the object itself — independent of markings, tags, or other modifications — is groundbreaking. FeaturePrint technology has the potential to bring a new level of trust to supply chains that does not currently exist."
Other participants in the round include IPD Capital and Shasta Ventures alongside current and former senior management from Accenture, Boeing, and Fidelity.