With participation from other investors, Endiya Partners led a $2.25 million seed round of funding for the manufacturing supply chain visibility software AltiusHub.
According to a press release from AltiusHub, the new funding will be used to expand the engineering team and hire senior talent with industry experience.
Supply chain visibility software AltiusHub, co-founded in 2023 by Siddharth Reddy and Abiram Vijaykumar, assists manufacturing entities in securing their supply chains. Initially targeting the pharmaceutical sector, the product aids in keeping fake medications out of the system.
The SaaS platform of the company enables pharmaceutical companies to monitor and trace products from manufacturing to the point of sale, all the while complying with international regulatory standards that ensure product integrity, including the US DSCSA, EU FMD, UAE Tatmeen, and India’s iVeda.
The Hyderabad-based business claims that anomalies and patterns found by its sophisticated tracking point to fraudulent activity. The software enables prompt intervention by instantly notifying users of any anomalies or deviations in the supply chain, giving them real-time visibility.
The global track and trace market is expected to grow to $7.3 billion by 2026, based on market research.
