Targeting Accelerated IoT Solutions Growth
Smartrac Technology Group announced today that Alibaba Group will invest in the company, reinforcing both parties’ commitment to strengthen brand protection strategies.
Michael Evans, President of Alibaba Group, will join Smartrac’s Supervisory Board.
Alibaba Group invests in Smartrac, aiming to support the vendor of RFID products and IoT solutions and together provide brands with innovative product authentication and consumer engagement solutions at scale.
Smartrac has developed a comprehensive suite of RFID-based solutions that utilize the company’s Internet of Things platform, Smart Cosmos. Smartrac’s IoT solutions enable brand product manufacturers to securely create and embed a unique digital identity into each individual product at the point of manufacture, at scale.
This product identity can only be issued by the brand and can’t be faked, copied, stolen or lost. Thus, it provides full control and visibility of each genuine product throughout its product lifetime. In addition, brand owners can deliver exclusive and dynamic content to their consumers to increase customer engagement, loyalty and satisfaction, at the simple tap of a phone.
“At Alibaba, we are continuously innovating and partnering to provide market-leading solutions and highest levels of brand protection for our clients,” said Michael Evans, President of Alibaba Group. “We are thrilled to support Smartrac and together provide brands with innovative product authentication solutions at scale.”
“Smartrac provides premium product manufacturers and their customers with ultimate yet scalable solutions to protect and enhance brands”, said Christian Uhl, CEO and Chairman of the Management Board, Smartrac Technology Group. “We feel honored by Alibaba’s confidence that our technological expertise will provide brands and consumers with best-in-class product authentication and customer experience solutions”.