Bangalore, Karnataka India (PressExposure) June 21, 2011 -- Sproxil Inc., a world-class brand protection company today announced the launch of its operations in India by Chief Executive Officer, Dr. Ashifi Gogo. Sproxil's focus is to check the drug counterfeit market through its brand protection product, Mobile Product Authentication (MPA). It enables consumers to verify the authenticity of a pharmaceutical product by sending the unique code on the drug as a free text message to the manufacturers, in real time.
Sproxil established the first national mobile-based anti-counterfeit service in Africa and has already sold millions of anti-counterfeit labels. They provide services to several leading global pharmaceutical companies. Similarly in India the company plans to support Indian manufactures with their counterfeiting concerns, to help maintain India's global brand image as the manufacturing giant for countries that need affordable medication.
"India has one of the largest pharmaceutical markets in the world but is plagued by counterfeit medicines made elsewhere that tarnish brand India. Our services enable Indian companies to reduce the presence of counterfeit medicines by connecting companies directly to their consumers in a scalable manner, using mobile phones. Our Mobile Product Authentication (MPA) architecture combines secure interlocking technologies and makes counterfeiting unprofitable", said Dr. Ashifi Gogo, Chief Executive Officer, Sproxil Inc. He also added, "India forms an integral part of Sproxil's global strategy, and we are launching in two cities, Bangalore and Mumbai, as more than 80% of the Indian pharmaceutical manufacturers are based in the West and the South of India".
With a mobile subscriber base crossing 812 million in India, and growing exponentially, Sproxil's solution will have a far reaching impact. Sproxil recently received 1.8 million USD from Acumen Fund, a non-profit global venture fund, to expand its business in India and Eastern African countries such as Kenya, Tanzania and Uganda.
India ships drugs to over 150 countries worldwide, and Indian manufacturers are key suppliers of drugs to emerging markets where counterfeiting is often an issue. Brand and product pirates in Indian markets pose a significant risk to legitimate Indian manufacturers, leading to brand degradation, decrease in sales and consumer purchasing apprehension. Through Sproxil's offerings, companies can protect consumers from harmful products, starting with pharmaceuticals but expanding to any high-value item where the consumers don't want to get cheated at purchase.