NEW YORK (PRWEB) August 20, 2019
Product authentication technology Entrupy today announced a new partnership with PawnGuru, a startup focused on digitizing the pawn shop experience. Pawn shops utilizing PawnGuru’s Pro feature now have access to Entrupy’s AI solution, which authenticates handbags from the top luxury brands with over a 99% accuracy rate.
Through the deal, pawn shops in PawnGuru’s Pro network can now use Entrupy’s authentication technology on a special “pay-per-authentication” basis. Luxury handbags and accessories that may have been previously turned away due to lack of authentication can now be verified within these stores at a discounted price point.
“We are excited to partner with Entrupy to provide pawn shops in our network with state of the art technology that eliminates the purchase of counterfeit items and maximizes return on sales,” said Jonathan Polter, Co-Founder and CEO of PawnGuru. “This partnership means that regardless of the volume of handbags received, every pawn shop now has a trusted resource to help them make smarter buying decisions.”
Developed by a team of technologists and mathematicians, Entrupy’s solution uses machine learning algorithms and computer-vision technology to verify items. Each verified item receives an Entrupy Certificate of Authenticity and financial guarantee, enabling shoppers to trust their transactions and pawn shops to drive greater returns from purchases.
“With the Entrupy Certificate of Authenticity, pawn shops now have peace of mind regarding their transactions and employees feel confident that they are accepting authentic luxury items,” added Deanna Thompson, Director of Business Development at Entrupy.
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 and marketplaces worldwide, Entrupy provides the only scalable technology capable of authenticating luxury products from 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.
Founded in late 2014, PawnGuru is the only online marketplace connecting 30 Million American consumers with thousands of shops across the country. By creating a harmonious marketplace for consumers and local shops to connect quickly and safely, PawnGuru aims to bring the 10+ billion dollar pawn shop industry online.
Learn more about PawnGuru at https://www.pawnguru.com/