Sproxil Launches Its Operations In India
Sproxil Inc., a brand protection company recently launched its operations in India. The company also unveiled Mobile Product Authentication (MPA), a product that will help against drug counterfeit. MPA helps the consumers in verifying the authenticity of a pharmaceutical product in real time by sending a unique code on the drug as a free text message to the manufacturers.
Sproxil established the first national mobile-based anti-counterfeit service in Africa and has already sold millions of anti-counterfeit labels. The company provides services to many leading global pharmaceutical companies and offers the world's only patented consumer SMS verification service.
"Our services enable Indian companies to reduce the presence of counterfeit medicines by connecting companies directly to their consumers in a scalable manner, using mobile phones. Our Mobile Product Authentication (MPA) architecture combines secure interlocking technologies and makes counterfeiting unprofitable" said Dr Ashifi Gogo, Chief Executive Officer, Sproxil Inc.
Although India is one of the largest pharmaceutical markets in the world that ships drugs to over 150 countries worldwide, it is affected by counterfeit medicines. Sproxil believes MPA will help against counterfeiting in India since the mobile subscribers in the country are in access of 800million and growing.
Ashifi said "India forms an integral part of Sproxil's global strategy, and we are launching in two cities, Bangalore and Mumbai, as more than 80 per cent of the Indian pharmaceutical manufacturers are based in the west and the south of India".
Sproxil recently received $1.8 million from Acumen Fund, a non-profit global venture fund, to expand its business in India and Eastern African countries such as Kenya, Tanzania and Uganda.