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St.Gallen startup closes seed round

IT startup collectID has successfully concluded a seed round. The raised funds will be used by the company to further develop its product authentication platform.

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Investors in collectID’s recently concluded seed round included Business Angels and the Startfeld Association, as was reported in an article on startupticker.ch. With this new funding, the company from the St.GallenBodenseeArea plans to expand.

Startup collectID has developed a platform that verifies the authenticity of all kinds of different products. The collectID platform can further be used trade these products. One tap with a smartphone is all it takes for authentication, with the information first verified and then safely stored on the blockchain. In addition to blockchain technology, the startup also applies near field communication hardware. The article explains that collectID is thus cultivating “a digital database and a secure resale market for all sorts of collectibles”.

The startup has earmarked the new funds from the seed round for generating further growth. Its plan is to invest in expanding the team and product development, company founder and CEO David Geisser reportedly told startupticker.ch. 

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