Authena raises EUR 2.1 million in seed funding

The firm also received funding from US innovation fund Ecliptic Capital which focuses on pre-seed, seed and Series A investments. Authena plans to use this new funding to ensure continued growth and the development of new prototypes for major customers.

The company has developed a blockchain-based solution for tracking supply chains and establishing interactive, end-to-end communication between manufacturers and end users. According to an Authena representative, every single product and every unit can be verified by users with the Authena app at any time, meaning the company enables access to information about the product and generation of data to further develop smart supply chains.