Genefied, an anti-counterfeiting service provider headquartered in Delhi, was founded in 2018 with the aim to empower complete supply chain control through end-to-end Supply Chain Traceability & Anti-counterfeiting Protection.
Today, we take a look at how Genefied was founded, its short-term/long-term vision, and how this startup is planning to revolutionize the future of supply chain traceability and Anti-counterfeiting networks.
When were you founded & What is the product/service you provide?
Genefied was launched in 2018 to focus on the importance of traceability, digital warranty, and genuineness across the brands, their products, and their supply chains.
Currently, we have six products that provide Traceability, Warranty Management, Loyalty Solutions, and Anti-Counterfeiting.
Our products serve industries and sectors like FMCG, Tyres, Papers, Auto Parts, Oils and Lubricants, Pumps and Machinery, Fertilisers and Chemicals, Helmets and Safety Gears, Proteins and Health Supplements, Electric and Electronic Devices, and Universities and Education Boards.
In addition to automating CXOs’ daily tasks, we help them innovate and scale their businesses using our QR code-based solutions.
What is the company’s long and short-term vision? Where do you see your industry going in the next five years?
Genefied currently focuses on empowering the maximum number of brands with complete supply chain control through end-to-end Supply Chain Traceability and Anti-counterfeiting Protection.
Vision for brand: “100 years a brand”.
Every brand wants to enjoy the fruits of success for a lifetime. When we meet brands, we put this as a forefront strategy to get our foot in the door.
Our approach for sustainable technologies with the right GTM for brand adheres to our vision “100 years a brand” and helps align with the ideology of large brands.
You know, the future is digital. Technology has become the backbone of business upliftment.
In the coming five years, supply chain traceability and Anti-counterfeiting networks shall be the top demand in service.
How did you get inspiration for the Company? How did you go about researching and validating the idea?
While working for my first venture, Web Shuttle, I realised the dire need for paperless warranty, Genuine Products, and Supply Chain Traceability across companies.
This resulted in the birth of Genefied in 2018. Genefied is composed of two words, “Gene – Modified.”
Our tech solutions result from successful modifications to some techniques already prevalent in the market, but we assure you of the success of our secret tech!
We have an experienced team that is continuously involved in R&D.
It is with their efforts that from day one, we have been successfully finding problems of consumer brands and strategically designing solutions as per their needs.
Our parent-child-related / tamper-proof QR codes across products provide end-to-end transparency to the brands.
Is the company funded? If yes, how many rounds & how much funding, If No, then are you open to funding?
Yes, Genefied is funded.
Mentioned below are the raises from different industry veterans 1. Dilip Cherian (Perfect Relations, PR Image Guru) 2. Vivek Bhargava (Ex India CEO Dentsu Aegis Network) 3. Achin Kochar (Director, VI-John Group)
How does the product work & What problems does it solve?
Our products cover Loyalty Management, Digital Warranty, Traceability services, Anti-Counterfeiting. These help brands improve their distorted supply chains.
Genefied Group has spread its wings to provide GenuineMark, SupplyBeam, Rewardify, DWAM, CAP, HybridOcean, RetailIQ, RealIQ, and MallIQ as our flagship products.
1. Supply beam: Plant to Warehouse distribution
2. DWAM: Digital Warranty Management Solution
3. Rewardify: Loyalty for Retailers & Distributors in General Trade
4. GenuineMark: Authenticity Management Solution
5. Retail-IQ: Modern Retail Solution for the elimination of bulky asset-based POS
6. DMS-IQ: Distribution Management tool
What are your USP and innovation? How are you different from others?
At GENEFIED-We Believe in:
G- Growth
E- Excellency
N- Newness
E- Efficiency
F- Flexibility
I- Integrity
E- Empowering
D- Delivery on time
Customer-Centric Innovation: We are customer-focused, carefully understand business needs and listen to client ideas to evolve our tech.
Lean & efficient: We constantly think about what can make us the market leaders from the possible minor efforts and maximum possible gains. We use the OKR approach, “Objectives and Key Results.”
Futuristic Tech built-in today: We have built tools like in-app bulk scanners, which have a speed of scanning 60 to 80 scans/minute from a single window in the smartphone.
Scalable Programs: We use cloud tech scalable architecture to add various data points with the latest tech stack. There is no compromise on quality in either hardware/software scalability & robustness. Ours is a one-stop solution, and we serve every brand as per their unique requirements.
We have built robust traceability cum Loyalty platforms for brands like Bisleri, PASEO, Borosil, Baltra Appliances, Asia Pulps and Paper, Lotus Herbals, KEI Wires, and Cables, Varuna Pumps, etc.
What are some of your competitors & what advantage do you have over them? & Briefly explain your revenue model?
We do have some market competitors like Neurtotags, O4S (Original For Sure), LetsVerify, TrustTags, and Holostik.
We have an advantage as our patented solutions serve multiple services. We help brands as per their needs via our dynamic serviceability.
Our tech solutions are tailor-made and, hereby, are a source of attraction for big brands serving markets.
We believe in optimizing packages and solutions for our client brands and, thus, grow financially.
For instance, for Anti-Counterfeiting, some of our competitors focus mainly on consumers, whereas we have a more company-centric perspective and cater to the entire supply chain from RM to FG to Dispatch to Sales.
With each client we add to our list, the worth of our services increases, and so does our revenue.
What difficulties did you encounter when you started the company & Were you impacted by the Covid outbreak?
Initially, we also faced hard times to make our name in the market. You know how difficult it is for people to trust a start-up.
But, we continued with pilot projects and kept trying various solutions.
Gradually, with our intellectual teams’ hard work, here we are today, serving brands with eight products with good trust.
Just like everyone, Covid-19 did hit us, too, mentally and strategically.
But, we knew this was another test for Genefied. We re-strategized and moulded our approach to suit the economic requirements.
To our surprise, we managed to generate revenues 4-5 times what we had achieved in 2019-2020.
What are your future plans & launches?
We are currently focusing upon Indian brands and helping them with their supply chain issues.
We are planning to take GenuineMark to the global level, as Genefied is already in terms with some brands in Indonesia, the USA, and Egypt.
Current company size, work culture, Hiring Funda.
Genefied currently operates with a team of 35-40 members. We follow a hybrid model. There is work from home as of now, owing to the Covid thing.
But, this has not affected our team’s spirit at all. Our hiring funda is an equalised aspect.
We believe in a mix of young enthusiastic talent who bring fresh ideas along with an experienced crowd.
How did you launch your company when you had just 0 users? Which channels/ tools/strategies worked the most for acquiring the first 100 users?
We launched with just GenuineMark.
Our focus was clear, and we followed direct sales and experimentation.
With continuous research and trial & error, we gradually started achieving success in our tech models.
Today, we have achieved excellence in every solution that we offer.
A piece of advice for the readers
Just to let you guys know about our real work, Genefied has introduced six products, collaborated with 50+ brands and malls, and has grown 10X in 3 years with a rise of 500% in its revenue since it came into action (2018-2021/22).
Our clients have shown revolutionary uptrends in their customer base with increasing their sales revenue.