Cypheme Secures €1.4 Million Funding from the European Commission to Fight Coronavirus

cypheme secures €1.4 million funding from the european commission

In March last year (2020), as the coronavirus pandemic started to take its toll on various aspects of daily social and economic life, there appeared to be a lot of gloom.

In the bid to help nip the pandemic in the bud and contribute to getting things up and running once again, the European Commission through its European Innovation Council (EIC) Accelerator Pilot programmelaunched a call for ideas to tackle the viral epidemic.

On the opening of application for the EIC Accelerator Pilot programme, about 1,400 startups and small and medium-sized enterprises responded (including Cypheme) with innovative solutions aimed at helping to stop the spread of the coronavirus.

In the end, 36 of the 1,400 companies were selected as beneficiaries of the funding to help with the fight against COVID-19, and Cypheme was proudly one of the chosen few. This is by virtue of the outstanding anti-counterfeit solutions we provide which the EIC believes is important in helping to weed out counterfeit equipment and medication as the world seeks to combat the coronavirus disease.

Cypheme has therefore received more than €1,400,000 in blended finance from the EIC to enable us continue our fight against the plague of counterfeiting as needed in unprecedented times such as this. The incident of the coronavirus pandemic has seen an upsurge in fake treatments and faulty face masks, which gravely endangers the health of users across the globe.

The artificial intelligence backed anti-counterfeit solutions we at Cypheme offer would come in handy in helping to fight such fake products that puts the lives of millions at risk.

The technology we have developed allows for the detection of counterfeit products or documents using a simple smartphone camera. Through this funding, the European Commission shows that it trusts and supports our game-changing technology and is willing to see us advance in helping to save lives and also reduce revenue losses incurred by companies due to imitations of their products.

We are very much excited to offer our solutions and also work with industry people, companies, entities, institutions and parastatals who might be interested in our technology. Kindly fill out our form by clicking here, and we will be in touch as soon as practicable.

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