Global supply chains have simplified access to a wide range of products but have also presented challenges in verifying origin and composition. New Zealand startup Oritain has raised $57 million to continue developing its forensic traceability business, which uses data and forensic science to determine the true origins of a product. Oritain also maintains a growing fingerprint database to assist in the identification process. Highland Europe is leading the funding round, with previous backer Long Ridge also participating. Oritain currently provides SaaS-based tools for researching the origins of food and textiles for over 100 multinational companies. The company’s unique approach involves analyzing the object itself, leveraging factors such as environmental changes, in order to determine origin. Oritain’s methodology has been successfully used in counterfeit cases, providing solid evidence in court. Jacob Bernstein, a partner at Highland Europe, commends Oritain’s groundbreaking technology for origin verification and its potential to benefit sourcing and sustainability leaders at major brands.
