Faux tablets are a global risk that waste over one million other folks every year. The World Smartly being Group reported in 2017 that 10% of all medicines in low-to-heart profits international locations are unpleasant or fallacious and Africa accounts for 42% of all reported situations.
This topic is rife in Africa and this has resulted in the rise of tech startups proffering alternatives to treatment the topic. Chekkit, judicious one of the most startups at the forefront of saving lives by combating this pandemic, is asserting a pre-seed funding round of $500,000 to make stronger its skills.
Based in 2018 by Dare Odumade, Chekkit is a Nigeria-primarily primarily based B2B scheme company providing product authentication and distribution tracking alternatives to FMCGs and Pharmaceuticals. Their skills helps to forestall customers from procuring or the expend of counterfeit products. It moreover gives buyer engagement and bid marketing tools for its purchasers.
Seeing is believing, a solution built out of a hideous skills.
Earlier than beginning Chekkit, Odumade had witnessed the horror of counterfeit tablets and the arrangement in which they would possibly be able to painfully quit lives. He used to be display cloak when any individual died in his buddy’s pharmacy in Ghana, the affected person’s kidney used to be ruptured as a results of taking counterfeit antimalarial treatment.
After the sad and hideous occasion, he gathered a shrimp team to start market research in Accra, they chanced on that customers are no longer concerned about counterfeits or the hazard they pose. Particularly, the results of falsified treatment can hasten undetected for prolonged classes till it has eaten deep into the person’s scheme.
“We then determined to map an authentication scheme powered by sticker labels that verify medicines,” Odumade told TechCabal. “The stickers salvage encrypted USSD code to dial, QR code to scan, and aggregated and processed surveys which customers solution at some level of the authentication path of to straight receive a reward,”
They created a straightforward arrangement to treatment a sizable topic. This is the arrangement in which it in fact works: after procuring a treatment product or food, customers can dial on the U.S. codes on the stickers or scan the QR code on the pack to procure an authentication notification. When they quit this moreover they’re rewarded with airtime, judge getting rewarded for fending off a that that you just should per chance well perhaps judge ruptured kidney.
Odumade says customers procure ₦100 ($0.2) price of airtime after they verify 5 products with Chekkit labels and solution the ogle questions.
Opportunity meets readiness, from Yaba to Kabul.
Honest thru the last few years, Chekkit has helped provide protection to customers and producers in Nigeria and no longer too prolonged ago in Afghanistan from the hazards of counterfeit products by providing the customers with a technique to establish common products.
It’s no longer popular to listen to of Nigerian startups expanding to Afghanistan, so why Afghanistan?
“The opportunity offered itself thru our partnership with the Fantom (blockchain) basis team. The Afghanistan executive used to be urgently shopping for a arrangement to diminish the unfold of counterfeit prescribed tablets within the nation, and Chekkit is the fitting arrangement to their topic,” Tosin Adelowo, Chekkit’s CMO told TechCabal.
Chekkit says that it has now secured over 7 million pharmaceutical products, safe over 200,000 customers, and expanded its partnership with the Afghan executive for the verification and tracking of over 200 million products within the Heart-Eastern nation.
Working with prime global pharmaceutical firms care for Merck, Royal Star Pharma, Nabros Pharmaceutical, has contributed critically to Chekkit’s growth. Chekkit moreover works with FMCGs care for Indomie, Nivea, Flour Mills of Nigeria Plc, etc., serving to them procure closer to their customers the expend of its level-of-sale user engagement solution.
The corporate said in a recount that it in fact works closely with the manager and NGOs, “we deployed a Covid-19 engagement solution in partnership with the African Union and the AfricaCDC, and we are continuously working with regulatory and standardization bodies care for NAFDAC, GS1, and the FCCPC to invent sure that the products we expend are precise and of essentially the most productive requirements for consumption.”
The main institutional funding after using on grants and bootstraps since inaugurate.
Open Africa, Japan Strategic capital, and Blockchain Founders Fund led this $500,000 funding round. Two syndicate groups of angel customers moreover participated and a grant from the Orange Corners program completed the round.
“Investing in Chekkit Applied sciences used to be a no brainer, they’re tackling the scourge of fallacious tablets in Nigeria and across emerging markets globally,” Biola Alabi, co-leader of judicious one of the most angel syndicate groups, said about backing Chekkit.
In accordance with the corporate, they’re no longer most productive taking Alabi’s cash. She will be able to moreover be becoming a member of the corporate’s advisory board to permit them to leverage her years of skills in media and dialog and substitute skills to scale. Alabi currently sits as a non-govt director at Unilever Nigeria Plc.
The startup will expend the funds to make stronger and amplify its skills and rent more innovators to be half of their “noble quest” so they would possibly be able to elevate out their projection of straight maintaining to 100 million lives across the globe.
“We’re mountainous-pumped in regards to the prolonged tear as we map irregular skills to provide protection to the lives of millions and straight make stronger the act of doing enterprise for several brands by learning about customers within the largely informal African markets,” Odumade said in a recount.
One ingredient is sure, Chekkit must the touch the total present chain of their client’s businesses and abet them procure even closer to their customers, this arrangement. It’ll be sturdy for falsified products to infiltrate.
“We could per chance well perhaps be launching the first user intelligence scheme-as-a-carrier for user brands to map quit-to-quit loyalty campaigns, mixture engagement info and distribute rewards in-home and with their marketing businesses for the first time ever, enabling customers to straight work alongside with brands thru QR and USSD shortcodes printed straight on the product kit,” Odumade added.
In 5-10 years, the corporate plans to salvage impacted round one billion lives and be the main tangible product authentication and distribution tracking skills within the field. Constructed out of Ghana, launched in Nigeria and now prolonged to Afghanistan; about 4,104 miles some distance from home. It’s most productive a matter of time sooner than the relaxation of the field feels the affect of Chekkit.