Singapore, 19th April 2024, ZEX PR WIRE, Autify Network, a leading blockchain-powered supply chain management platform is dedicated to transforming the fashion and luxury industry by prioritizing transparency and traceability.
Autify Network is developing a platform that leverages blockchain technology to provide end-to-end visibility, enabling brands and consumers to verify the authenticity and origin of products. Led by CEO Nabarun Chakraborty, Autify Network remains committed to promoting integrity and sustainability at every transaction with a deep understanding of the pressing need for supply chain transparency and the challenges associated with counterfeit products
Having conducted over 50 successful proofs of concept (POCs) and currently onboarding more than 200 brands from the fashion and luxury industries. The company has proven its effectiveness in combating counterfeit products and upholding the integrity of supply chains.
Autify Network raised $1.9 million in venture capital funding and grants from notable investors including Loop Ventures, NEAR Foundation, Stellar Community Fund, Sia Foundation, and Biconomy underscores the confidence in Autify Network’s vision and its potential to transform supply chain management.
Autify Network was born out of a personal problem. We were losing millions of dollars to counterfeits and couldn’t keep track of shipments across borders. We looked for solutions but couldn’t find one. So we set out to create it.
We are a team of entrepreneurs, blockchain engineers, operational and marketing experts . The team has more than 15 years of experience in building and running startups.
Autify Network has also been recognized for its pioneering approach to supply chain management through participation in leading accelerator programs. These include the India Blockchain Accelerator by the Government of Telangana, ZILHive Incubation by Zilliqa, Stellar Community Fund Bootcamp, Celo Camp, and Hatch Web3 Accelerator by Hedera.
Looking beyond, Autify Network plans for major product launches, mainnet preparation, and introducing its utility token $AUTY further solidifying its position as a trailblazer in the blockchain space. Stay tuned for exciting updates as we continue to drive positive change in the fashion and luxury industries.
CEO of Autify Network, Nabarun Chakraborty, expressed enthusiasm about the integration: “Our integration with Sia and the support from the Sia Foundation validate our mission to revolutionize supply chain management through blockchain technology. This is just the beginning of how we are reshaping the future of the industry.”
Blockchain technology offers a transformative solution to the challenges inherent in supply chain management. By providing a secure and transparent ledger of transactions, blockchain ensures that every step of the supply chain is traceable and tamper-proof.
This not only mitigates the risk of counterfeit products but also enhances efficiency by streamlining processes, reducing errors, and improving overall visibility.
The integration of Sia’s decentralized storage into Autify Network’s Supply Chain Management modules introduces a new era in data storage. Sia’s protocol enhances security, eliminates single points of failure, and provides a scalable solution that adapts to the growing demands of the supply chain ecosystem. This collaboration signifies a commitment to innovation that goes beyond traditional storage solutions.
Autify network creates a digital twin of a physical product that is stored and managed on a blockchain. Information is immutable and tamper-proof.
For further information about Autify Network, visit the website at www.autifynetwork.com.
