TruTag Technologies, Emeryville, Calif., announced a strategic partnership with Sumitomo Corporation of Americas, New York, and an investment in TruTag by Sumitomo’s corporate venture capital fund, Presidio Ventures, Santa Clara, Calif.
TruTag Technologies 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 of various Sumitomo divisions worldwide. In addition, TruTag’s advanced spectral and spatial imaging products are expanding into agricultural management, smart farming, machine vision, biomedical imaging and point-of-care diagnostics.
“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. 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,” says Michael Bartholomeusz, chief executive officer of TruTag Technologies.
“Sumitomo Corporation of Americas is excited to partner with TruTag and their impressive technology platform,” adds Tom Wada, general manager of Sumitomo Corporation of Americas’ Silicon Valley, Calif., office. “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.”