Akerna Corp (NASDAQ:KERN) has announced the acquisition of a majority stake for $18 million in Solo Sciences Inc. The move will help the company to provide genuine goods to the valued customers. It also improves transparency in the cannabis supply chain worldwide.
A leader in anti-counterfeiting technology
Solo is a leader in anti-counterfeiting and customer engagement technologies. The takeover of Solo helps Akerna to develop the best global technology platform and address the supply chain requirements. It also ensures transparency and accountability for the regulatory bodies.
What do you expect from Solo?
The tech platform of Solo ensures consumer safety with the help of alert functionality and anti-counterfeit technology. The manufacturers can embed a *CODE* proprietary graphic of Solo on their product packaging. A phone app of Solo will help the consumers to scan the code and identify if the product is real or fake. They will also get notifications on their phones.
Chief Executive Officer of Akerna, Jessica Billingsley, said its investment in Solo reiterates its commitment to address the supply chain worldwide through developing a global technology platform. It also and provide accountability to the regulatory bodies. Partnering with Solo creates a new standard in the industry and promotes growth for Akerna. He further said the technology platform is vital to ensure transparency and safety for the consumers. The customers will know detailed information about the products they wish to purchase and ensure authenticity with the help of the Solo app and *CODE* on the packet.
Solo *CODE* is unique for each package. The technology of Solo closes the gap between the user and the manufacturer using the cutting edge authentication tools. The Solo app also offers a plethora of benefits, like earning rewards and learning more about the product. CEO and founder of Solo, Ashesh Shah, said it shares the vision with Akerna to safeguard the consumers from counterfeit and dangerous vape cartridges and cannabis products.
Akerna received a contract from the Health and Agriculture Departments in Utah for implementing Leaf Data Systems (seed sale tracking platform) for its medical cannabis program. The economical Solo Tag and Leaf Data Systems allow the national and state governments to track the waste and product in the entire supply chain.
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