Staying ahead of the technology curve means strengthening your competitive advantage. That is why we give you data-driven innovation insights into the FMCG industry. This time, you get to discover 5 hand-picked blockchain startups.
Global Startup Heat Map highlights 5 Top Blockchain Startups out of 121
The insights of this data-driven analysis are derived from the Big Data & Artificial Intelligence-powered StartUs Insights Discovery Platform, covering 1.379.000+ startups & scaleups globally. The platform gives you an exhaustive overview of emerging technologies & relevant startups within a specific field in just a few clicks.
The Global Startup Heat Map below reveals the distribution of the 121 exemplary startups & scaleups we analyzed for this research. Further, it highlights 5 blockchain startups that we hand-picked based on criteria such as founding year, location, funding raised, and more. You get to explore the solutions of these 5 startups & scaleups in this report. For insights on the other 116 blockchain solutions, get in touch.
Authlink creates a Supply Chain Management (SCM) Platform
Digital supply chain management not only transcends the limits of conventional paper-based systems but also brings its merits. Integrating blockchain into FMCG supply chain management platforms allows manufacturers to accommodate zero-trust policies into their supply chain. Startups leverage this situation by developing blockchain-based solutions for the supply chain management. This way, businesses are able to trace products throughout the value chain and ensure their authenticity. As a result, visibility is increased and communication is streamlined while customer experience is improved.
Indian startup Authlink specializes in instilling traceability into supply chains. The startup’s supply chain management platform, Brand Panel, enables brands and manufacturers to create a secure digital identity for their products. These digital identities, Authlink Smart Assets, are cryptographically secured using blockchain technology. They are linked to a physical asset via an industrial tag, such as QR code, near-field communication (NFC) tag, etc., and provide a permanent linkage. Brand Panel thereby offers end-to-end product traceability and detailed business insights, boosting efficiency and brand loyalty. Additionally, Authlink develops Mobile Vault, a blockchain-based smartphone app, for consumers to store all important documents electronically.
authentic.network provides High-Safety Counterfeit Protection
Falsified and substandard drugs may contain toxic ingredients and cause poisoning. Further, using a low concentration of active agents in fake antibiotics does worldwide damage by stimulating drug resistance in bacterias. That is why consumers must ensure the authenticity of over-the-counter drugs available in local stores. Startups aid this by developing off-the-shelf solutions for FMCG pharmaceuticals using blockchain.
German startup authentic.network offers counterfeit protection for medicines, products, and documents using QR-based authentication. The startup uses existing infrastructures, such as printers and smartphones, to print and scan their patented cryptographic code, authentic.code. The code uses blockchain to connect an unassailable physical code to a digital twin of the product, thus, ensuring security. This way, authentic.network provides end-to-end traceability and avoids medicines and products tampering, guaranteeing the consumer’s safety and brand engagement.
Sandblock offers Consumer Reward Solutions using Blockchain
Customer engagement is a critical element in building brand loyalty and customer retention in FMCG. However, conventional reward programs are often ineffective and expensive as they lack direct brand involvement. With direct distribution and blockchain, startups are now elevating customer interaction with loyalty programs and rewards. This way, FMCG brands are able to directly interact with customers and create brand awareness, thus improving high-value customer retention. Further, the customers’ feedback aids in streamlining operations and improving products.
French startup Sandblock develops blockchain-based open-source solutions to reward consumers. The startup’s Sandblock Chain allows FMCG merchants to create blockchain-based digital assets such as loyalty points. The startup also offers a universal reward program for customers with Surprise, available as a browser plugin and smartphone app. Sandblock’s solutions enable FMCG brands to readily integrate customer reward programs and improve engagement, boosting sales and pushing product sales.
Bloomyt develops a Consumer Engagement Platform
With eCommerce penetrating the FMCG market, users have multiple outlets to buy their products. And often, they prefer channels that sell products at a lower price. Customer feedback is crucial to understand the disparities in end-products and services. That is why building an active customer engagement program is very important for brands. Startups develop innovative customer engagement solutions for FMCG brands to improve brand loyalty and generate more revenue.
Swiss startup Bloomyt develops a decentralized digital hub between corporations and users to enhance product engagement for Internet of Things (IoT) products. The startup utilizes blockchain to provide a tamper-proof system and store interaction outcomes securely. It further offers a direct way to turn credits into tangible assets. Bloomyt develops a platform and app for brands and consumers, respectively. The app for users is a command center to control devices, whereas the platform aids companies in decision-making with data-driven insights.
Carry Protocol builds an Offline Purchase Database
Gathering customer’s purchase information is more straightforward with digital platforms. However, when customers make offline purchases, FMCG merchants and manufacturers miss out on a vast part of critical data, valid for product and process improvement. Hence, startups develop novel approaches to monetize offline customer data and deliver it to FMCG brands. Blockchain offers an anonymous and fast way to create effective customer loyalty programs, ensuring customer privacy.
South Korean startup Carry Protocol creates an ecosystem for consumers, stores, and advertisers to share data sustainably. The startup’s purchase data platform uses blockchain to ensure the privacy and security of the user data. It allows customers to share their offline purchase information and receive rewards for it. This way, Carry Protocol retains data control back to the customers while helping merchants and advertisers better understand their consumers.
Discover more FMCG Startups
FMCG startups such as the examples highlighted in this report focus on sustainability, customer experience, direct distribution as well as 3D printing. While all of these technologies play a major role in advancing the FMCG industry, they only represent the tip of the iceberg. To explore more FMCG technologies, simply get in touch to let us look into your areas of interest. For a more general overview, you can download our free Retail Innovation Report to save your time and improve strategic decision-making.