Product counterfeiting is a burgeoning issue, especially for luxury brands, and our solution keeps counterfeits from entering the supply chain. We look forward to working closely with such esteemed brands to continue to combat the counterfeiting issue and spearhead the next generation of innovative.
NEW YORK (PRWEB) September 11, 2019
Product authentication technology Entrupy today announced it has been selected by LVMH Moët Hennessy – Louis Vuitton SE (LVMH) to participate in La Maison des Startups. Now in its third season, the program was created to accelerate collaboration between LVMH and innovative startups on development of forward-thinking solutions and services for the company’s portfolio of 75 brands as well as the luxury market overall.
As a participant in the six-month program, Entrupy will have a dedicated workspace in Paris’ Station F, the world's largest startup facility, from which they can liaise to discover business opportunities with LVMH brands, known as “Maisons.” The program includes facilitation of demo and pitch sessions with the Maisons, as well as networking and expert coaching opportunities in the form of workshops, presentations and informal forums with leading personalities from the Maisons.
Out of over 1,000 applicants, Entrupy is among just 26 companies chosen for this season’s program. It is one of the few who are based outside of France and the only focused on product authentication. The full roster of participating companies represent the diverse array of technologies that intersect with the luxury market, including awareness, omnichannel, logistics, clienteling, in-store experience, data, personalization, among others.
“We are thrilled to be selected for La Maison des Startups and collaborate with other startups who understand the challenges facing the industry,” said Vidyuth Srinivasan, CEO and co-founder of Entrupy. “Product counterfeiting is a burgeoning issue, especially for luxury brands, and our solution keeps counterfeits from entering the supply chain. We look forward to working closely with such esteemed brands to continue to combat the counterfeiting issue and spearhead the next generation of innovative technologies.”
Entrupy’s AI and computer vision-based solutions, which enable high-value products to be verified with over a 99% accuracy rate in seconds, is being adopted across the global physical goods ecosystem. With the goal of protecting all stakeholders from transacting in counterfeit products, Entrupy’s solutions are currently utilized by governments, retailers, online marketplaces and manufacturers, in addition to third-party resellers.
For more information on La Maison des Startups, please visit: https://lamaisondesstartups.lvmh.com/en/
Entrupy is a hardware-enabled SaaS company that uses computer vision algorithms and microscopy to bring trust to transactions of high-value physical goods. Currently in use by hundreds of secondary resellers, retailers and marketplaces worldwide, Entrupy provides the only scalable technology capable of authenticating luxury products and brands such as Louis Vuitton, Chanel and Hermès, among others. The service launched in 2016, following four years of research led by Ashlesh Sharma, Vidyuth Srinivasan and Lakshminarayanan Subramanian, Professor at New York University. Investors include DG Lab Fund, deep learning pioneer and Facebook AI Research (FAIR) director, Yann LeCun, serial entrepreneur and investor Zach Coelius, cloud computing pioneer and Google VP of Infrastructure Eric Brewer, and Japanese venture capital firm, Accord Ventures. The company is privately held and based in New York City. For more information, visit http://www.entrupy.com.