Blockchain startup Authlink closed their first round of seed funding on May 19 2020 successfully. Authlink, founded in December 2019 by Akash Gaurav and Kharthick Palanisamy, is a security company providing brand protection and product ownership management and ensuring a perpetual relationship among brands and its customers. Bharath Corp House, a Chennai, India-based technology fund invested $300,000 into the startup to fuel the technology development and build its partners’ ecosystem.
The startup has designed and developed a fully decentralized and asset-agnostic Authlink Network. It’s a secure blockchain-powered network consisting of brands, owners, independent QAs, and third parties; the ecosystem together creates a chain of trusted information regarding a product and document. The network creates a digital footprint of each step involved in the creation of a product and the issuance of a document. The footprint created on the network ensures the product provenance, proof of authenticity, and proof of ownership.
Authlink further offers an Issuer dashboard for brands and institutes to register their products and create immutable certificates on the network. This is an easy-to-use platform with intuitive UI- and API-based services for institutes to access Authlink services directly through their existing ERPs and CRMs. Further, the company is soon going to launch an owner vault, which is a secure mobile app for product and certificate owners to easily store, manage, share, and transfer their valuables electronically. The Authlink ecosystem enables a wide range of value-added services for vault owners to avail of these services and benefits in a convenient and secure manner.
“Millennials and Generation Z are going purely digital and demanding ways of managing all their valuables and certificates with the same convenience. This new era is all about offering ease, transparency, and security in an all-around aspect. Our ecosystem is enabling this offering while providing brands newer ways of maintaining a perpetual relationship with their customers,” said Akash Gaurav, co-founder, Authlink.
The platform has its proven use cases in several industries and is being launched with a focus on Jewelry & Luxury Goods, Automobiles, Educational & Professional Certificates, and Government Licenses. The company has already built a sophisticated technology to imprint information in the physical world to tie over a blockchain-based asset. The company also utilizes Smart Contracts to keep all platform data trust-free and maintains the highest standard for security and user privacy in the industry. Funds raised in the seed round are enabling the company to build its partners’ ecosystem faster as well as fuel research and new technology development.