Welcome. This has been a long time coming, so let’s get to it. We plan to keep you posted on what we do, how we do it, share product updates, highlight some interesting stories (it always gets interesting around counterfeits) and memes. Ok, no memes.
When we started Entrupy in 2012, we realized that there was/is a deep level of distrust in transactions, both in the physical and digital realms. And with good reason. One of civilization’s oldest problems, counterfeits, has been plaguing modern economies without check. So we built something to tackle counterfeits in a scalable way. A system that uses a microscope and deep learning to analyze the surface data of physical objects and determine their authenticity. The system also includes a massive, proprietary database of tens of millions of images, which we collected from the industry over the past year and a half. This knowledge base helps us understand the minutia and the macro patterns of luxury handbags and what makes them similar or different from the counterfeits.
We think that this might help rebuild trust into transactions of physical goods, especially those that are at high risk of counterfeiting, because we believe that you have the right to check what you’re paying for. We hope to enable that process.
Along Entrupy’s journey, there were tons of roadblocks and challenges – particularly with data and hardware but, with a little bit of hustle and some moxie, we’ve made some solid headway. In the past 3 months alone, we have certified over $3.8M worth of inventory for our customers. This, while supporting only two top brands (Louis Vuitton and Chanel). We have learned so much in these short months about the kind of supply that’s in the market, the quality of inventory, and most essentially – how trust is paramount to every single transaction. The ability to prove to a customer that the expensive thing on which they are spending hundreds/thousands, is indeed what it claims to be. This is subtle, but huge. With additional guarantees that we provide, this completely eliminates any lingering doubts.
We are also very proud and extremely confident in our team and the ability to move fast with product and increase adoption rapidly. Over the past quarter, our adoption has doubled and customers are relying on us to provide go/no-go decisions on $1000+ transactions. This couldn’t be possible without them having confidence in our product and our support team!
I sincerely believe that Entrupy, as a collective and a brand, has a legitimate shot at building something that will impact millions of people and help secure trillions of dollars worth of transactions. Just how commerce should happen. With trust and accountability.
Vidyuth Srinivasan, Co-founder & CEO