TraceX Technologies, a blockchain-powered traceability platform that enhances food and supply chain transparency, has partnered with Liechtenstein-based CannSol, a nutraceuticals company that offers a range of high-quality nutritional supplements
Through this partnership, TraceX and CannSol will offer traceability of each ingredient at every stage of production of the product.
CannSol Science AG is a subsidiary of CannSol Holding AG, that works with high-quality nutritional supplements. Their production chain comprises three companies, each of which is in charge of a different stage of the manufacturing process. Raw materials such as turmeric and ashwagandha extract are sourced from India, which are then stored at their warehouse in Liechtenstein.
The next few processes such as encapsulation, solubilisation, and packaging are carried out at different locations by different participants in the supply chain. Considering the number of stakeholders involved in the supply chain, traceability is crucial to ensure visibility and transparency to build a credible product.
TraceX’s blockchain-powered traceability solution will enable CannSol to have all the stakeholders on a common platform, thereby, providing trust and transparency to all.
Angelo Pidroni, CEO, CannSol, said the partnership with TraceX further strengthens their commitment to creating traceable and trustworthy products. “With TraceX, each raw material and each final product is labelled with a QR code from the system. In this way, we can provide all the necessary data at any time. When the end-customer scans this code, he sees a customised interface, where he or she can trace the most important information about the product and its ingredients.”
Anil Nadig, Co-Founder, TraceX Technologies, said, “We are happy to partner with a brand that is so focused on sustainability, purity and naturalness of products. By offering traceability for their products, CannSol is redefining the farm-to-bottle story of raw material extracts from Indian soil to the European market shelves. A connected supply chain with transparency across multi-stakeholders is the need of the hour and that is being realised with TraceX’s blockchain traceability platform.”
TraceX works with companies across livestock, poultry, seafood, and agri supply chains. It has raised pre-series A funding from Nabventures Fund,and currently works with over 30 food companies.