TruTag Technologies, a leading security and technology solution provider, today announced a strategic partnership with Sumitomo Corporation of Americas, and an investment in TruTag by Sumitomo’s corporate venture capital fund, Presidio Ventures.
Sumitomo Corporation of Americas is the largest subsidiary of Sumitomo Corporation, one of the world’s leading integrated trading companies engaged in diverse businesses with an annual gross profit of over $7 billion and presence in 66 countries.
TruTag and Sumitomo will collaborate to bring TruTag’s technology platform to diverse markets and industries where Sumitomo has deep business experience and relationships across the world. The partnership will adapt TruTag’s technology platform for product identity, traceability and supply chain management of various Sumitomo divisions worldwide. TruTag is a world leader for precision fabrication of nano-porous silica, advanced mobile hyperspectral imaging and data management to provide a complete product identity and supply chain security solution to improve the safety, traceability and authenticity of branded products across broad industries. Applications include edible on-product identity solutions for food and medicine, as well as secure labels and documents for businesses and governments. In addition, TruTag’s advanced spectral and spatial imaging products are expanding into agricultural management, smart farming, machine vision, biomedical imaging and point-of-care diagnostics.
As part of the broader global Sumitomo Corporation family of companies with leadership in diverse industries, Sumitomo Corporation of Americas is well-positioned to successfully drive significant opportunities for TruTag’s technology platform to impact wide-ranging markets and industries, improving efficiency of supply chain management, brand protection and consumer safety.
“We are looking forward to collaborating with Sumitomo Corporation of Americas to build a globally focused and comprehensive product identity partnership that will have a tremendous impact on Sumitomo’s existing markets as well as drive successful expansion of TruTag’s technology platform into exciting new industries,” says TruTag CEO Michael Bartholomeusz. “We are excited to work with a company of Sumitomo’s caliber and to mutually provide an industry-leading product identity platform across diverse markets with significant real-world impact to brand protection, product traceability and consumer safety.”
“Sumitomo Corporation of Americas is excited to partner with TruTag and their impressive technology platform,” says Tom Wada, general manager of Sumitomo Corporation of Americas’ Silicon Valley office. “We are confident that our deep-rooted relationships and existing partnerships across numerous industries will provide TruTag tremendous expansion, while deeply enhancing security and traceability throughout the supply chain of these networks.”