Supporting the Future of ESG
As well as providing tools to verify the legitimacy and provenance of a product, Oritain partners with companies to comply with ESG criteria, something investors increasingly demand. In addition, countries are creating new transparency and reporting regulations as part of Sustainable Development Goals across the globe encompassing deforestation, forced labor, and product fraud. Companies that can prove the authenticity, quality, and sustainability of their products and the supply chain will gain a competitive advantage by demonstrating to customers and investors that they meet high ethical standards.
BNP Paribas Exane acted as advisers on the transaction.
Grant Cochrane, Global CEO at Oritain, said: “Over the past 15 years, Oritain has pioneered ground-breaking forensic and data science to become the world’s most trusted verification partner to leading global brands and institutions, providing them with the insights they need to make the critical decisions on their supply chains. Our relentless focus on data, science, and process integrity has enabled us to become long-term partners with our clients to ensure the integrity of their supply chains, which is increasingly difficult to achieve in globalized and complex markets. We’re delighted to announce this new funding round, led by Highland Europe, to support our expansion plans as we reach new markets and industries.”
Jacob Bernstein at Highland Europe said: “Oritain’s forensic science can take a commodity sample and tell you precisely where in the world it comes from. Does this cocoa come from a deforested national park? Is this cotton from where my supplier says it is? Is this coffee truly Brazilian, as the label says? This ground-breaking technology is a dream solution for sourcing and sustainability leaders at the world’s largest brands who can finally get to grips with the authenticity of their supply chains. We are immensely proud to partner with the Oritain team to revolutionize origin verification.”
Angad Singh at Long Ridge Equity Partners said: “We are thrilled to deepen our partnership with Oritain and welcome Highland to the company and board. Together, we are excited to take Oritain to new heights and help the world’s most sophisticated brands, retailers, and governments ensure the integrity of their supply chain, protect human rights and comply with a complex web of international regulations for supply chains.”