Kezzler secures NOk 57 million from Investinor and DNV Ventures

Kezzler, an Oslo, Norway-based SAAS solutions developer for tracing physical products through supply chains, announced that it raised a NOK 57 million ($6.6M) capital funding round.

The money was raised from investors from Norway, including Investinor (25 million), DNV GL (20 million) and existing shareholders Watrium, Vestland Invest and BillerudKorsnäs Venture (all of them contributing with 12 million).

Kezzler, founded in 2002 by CEO Magnar Løken, developed serialization solutions sold via a SAAS platform designed for industrial scale. Their tool uses an algorithm for a unique encrypted code, which is applied to packaging and can easily be scanned using a smartphone. The technology is secure and cost effective, and the codes are used to assign a unique identity to product items, which enables tracing in the supply chain, interacting with consumers and protecting products and brands against counterfeiting, all in real time.