Tanglin Venture Partners, a Singapore-based venture capital firm, has led a Series A fundraising round for Ennoventure, a supplier of AI-driven brand protection and authentication solutions, raising USD 8.9 million. Existing investors, such as Fenice Investment Group and SAFE, also participated in the round. Ennoventure will use the funds to grow its global reach in the United States, the United Arab Emirates, India, and other regions, according to a statement.
"This investment will enhance our product offerings and drive our mission to provide unparalleled brand protection globally," stated Ahmad Chatila, Chairman of Ennoventure.
Ennoventure, founded in 2018 by Padmakumar Nair and Shalini Nair, uses AI and encryption to assist businesses safeguard their brands using their unique invisible signature technology. The invisible signature technology is used in industries such as FMCG, automotive, and industrial spare parts, providing organizations with real-time product identification and security against counterfeiting.
The Massachusetts-based company also offers invisible digital packaging solutions to authenticate billions of products globally. Its platform seamlessly interacts with existing packaging procedures, providing secure protection for businesses confronting the growing issue of counterfeit goods.
"Ennoventure's unique, process-agnostic brand protection technology meets a vital market requirement. We are proud to collaborate with Ennoventure as they continue to disrupt the market and provide brands with the tools they need to combat counterfeiting and protect consumer trust," said Sankalp Gupta, Tanglin Partner.
"Securing this investment is a significant milestone in our journey to become the go-to partner for brands looking to protect their products and reputations," stated Padmakumar Nair, CEO & Founder at Ennoventure.
"With the support of our investors, we are well-positioned to lead the charge in delivering innovative, AI-powered solutions that empower brands to stay ahead of the curve in a fast-evolving market," according to him.
