TruTag Technologies Inc., a security and technology solution provider, announced Dec. 4 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 Corp., a leading integrated trading company engaged in diverse businesses with a 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 to various Sumitomo divisions worldwide.
TruTag is involved in 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, the announcement explained. Applications include edible on-product identity solutions for food and medicine, as well as secure labels and documents for businesses and governments.
TruTag said its 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 Corp. family of companies, Sumitomo Corporation of Americas is well-positioned to drive significant opportunities for TruTag's technology platform in wide-ranging markets and industries, improving the efficiency of supply chain management, brand protection and consumer safety, according to the announcement.
“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,” TruTag chief executive officer Michael Bartholomeusz said. "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."
Tom Wada, general manager of the Sumitomo Corporation of Americas office in California's Silicon Valley, said, “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.”
TruTag serves businesses and governments around the world with its precision-fabricated, nano-porous silica manufacturing operation for a variety of applications and security solutions, including product identity for food, medicine, secure labels and documents. Its specialized nano-porous silica particles extend to precision drug delivery systems for the biopharmaceutical industry. TruTag's nano-fabrication technology platform is complemented by its advanced hyperspectral imaging solutions, which can be applied to a broad array of market applications from medical diagnostics to machine vision.
With headquarters in New York City, Sumitomo Corporation of Americas has nine offices in major U.S. cities. Its core business units include tubular products; environment and infrastructure; steel and non-ferrous metals; transportation and construction systems; chemicals and electronics; media and IOT applications; real estate; mineral resources and energy, and food.