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Veratrak aims to digitise the pharmaceutical supply chain

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by Startacus Admin

London-based SaaS startup Veratrak is aiming to transform how pharmaceutical supply chain companies work together.

veratrak logoLondon-based SaaS startup Veratrak is digitising the pharmaceutical supply chain with its document collaboration and workflow management platform.

Veratrak’s platform means that pharmaceutical companies can securely onboard internal and external users to review, authenticate, verify, and sign off on critical documentation for any stage of the supply chain. Veratrak says that it can save weeks with its document processes and approval workflows, which in turn saves money and increases efficiency.

Their powerful encryption for file upload and storage ensures that documents are protected even when working with third parties. Like just about everything these days that wants to be safe, secure, and untrickable with a solid paper-trail, Veratrak uses blockchain, making it the first pharmaceutical industry approved ‘document-sharing and workflow management solution’ to do so. This makes its auditability and data integrity rock solid.

veratrak imageThe dashboard looks clear, intuitive, and easy to use, and provides insights into performance of suppliers, customers, and employees alike. The platform was designed with input from pharmaceutical and life sciences companies to ensure that it is what it needs to be and to maximise usability.

Just a month or so ago, Veratrak raised a handy £1m in seed funding from a handful of investors including Force Over Mass, Seedcamp, and Blockchain Valley Ventures, adding to the support and backing it has received from individual investors.

blockchainOutside of this, Veratrak has been busy, co-founding the first European Blockchain Working Group for the Pharmaceutical Industry, EPOCH; presenting at the Oxford Saïd Entrepreneurship Forum; participating in a Healthcare Innovation Day at Silicon Valley; and winning the Innovation of the Year award from Oxford University.

These are all clear indications that plenty of people see the value in the Veratrak platform, and for a platform that ultimately results in more efficient patient care, we expect to see more awards in the near future.

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Published on: 19th May 2019

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