companies

Veratrak

Founded 2018
Employees 15+
Primary contact
Unit 2.05 12-18 Hoxton Street
N1 6NG London
United Kingdom
Links
https://www.veratrak.com/
Technologies
Veratrak has developed a blockchain-based platform called the Hub to improve the world of healthcare by facilitating collaboration across the supply chain. It is meant to help pharma companies break down communication barriers with their outsourced partners, and to help manufacturers coordinate suppliers to deliver critical batches. Veratrak's Hub provides a single and secure path to automatically extract, synthesize and visualize partner performance metrics across the supply chain. The company also offers other solutions, including Document Collaboration and Data Integrity as a Service (DIaaS). Beyond life sciences, Veratrak's customers also include contract manufacturers, distribution providers, government agencies, and academic and public institutions.
Select partners: Skyepharma, Lune, Tjoapack.
Founded 2018
Employees 15+
Primary contact
Unit 2.05 12-18 Hoxton Street
N1 6NG London
United Kingdom
Links
https://www.veratrak.com/
Technologies

Funding 💰

Total £6.5M
Last round 🔗 £5.3M
Seed
January 31, 2023.
Select investors Seedcamp, Oxford Seed Fund, Force Over Mass Capital, Ascension, Crane Venture Partners, Plug and Play, TrueSight Ventures, Blockchain Valley Ventures

Key people 🧑‍🤝‍🧑

Highlights ⭐

  • Solving a problem: Currently, life sciences organisations connect with their warehouse logistics partners through a myriad of peer-to-peer integrations, which costs an average of £500,000 over a six to nine month time period to implement, and specialised, costly expertise to maintain. In contrast, Veratrak's integrated Hub removes the need for peer-to-peer connections between life sciences organisations and their partners by offering a cloud-based, scalable, single source of truth for logistics and warehousing services to unlock cost savings, supply chain flexibility, and unparalleled visibility.
  • World-class data integrity: Because its platform is "anchored on the blockchain," Veratrak provides world-class data integrity through distributed tamper-proof record keeping. It also uses a Virtual Private Cloud (VPC) to minimize internet exposure and provide Multi-Factor Authentication and E-Signatures as standard.
  • Already in use: As of April 2023, over 100 organizations from six continents within the life sciences industry use Veratrak's platform.
  • Compliant & certified: Veratrak's platform fully complies with GAMP 5 Guidelines, EU GMP Annex 11, GxP and FDA 21 CFR Part 11. In addition, since January 2023, the company has achieved a widely recognized ISO/IEC 27001 security standard for the provision of a software platform for improving the efficiency, collaboration and security of the pharmaceutical supply chain globally. 🔗

Awards & Recognitions 🏆

  • 2021 Among the top 5 UK healthcare blockchain providers in the European State of Tech report 🔗
  • 2019 Global Healthcare and Pharmaceutical: Best Pharmaceutical Supply Chain Software
  • 2019 Tech UK Innovation of the year award finalist
  • 2019 EUROPA finalist for the hottest blockchain project 🔗
  • 2019 Medicine Maker Innovation of the Year
  • 2018 Oxford University Innovation of the Year Award 🔗

Quotes 💬

“
We are very proud to lead this £5.3M Seed investment into Veratrak. The therapeutics created by Vertrak's customers touch hundreds of millions of lives every day around the globe. If we can drive both more efficiency and more resilience into how those drugs get made and delivered into everyone's hands, that's a real impact at scale.
— Aneel Lakhani, Investor at Crane Venture Partners 🔗
“
There is a clear need for more innovative solutions to solve numerous inefficiencies across the pharmaceutical supply chain. We firmly believe that Veratrak's platform is ideally positioned to provide users at multiple stakeholders in this massive market the solution they are in need of.
— Tom Wilson, Partner at Seedcamp 🔗
Last update: April 18, 2023