Forensics Company Oritain Receives $57 Million Investment

Global supply chains have shrunk the world, allowing us to have almost anything we want at the touch of a finger. However, when it comes to things like verifying the origin or composition of a physical object, those same fragmented chains and the many steps between a producer and a buyer can be an expensive minefield for the companies that work in them. What do we know about the startup Oritain?

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What is Oritain?

Highland Europe is leading the round, joined by previous backer Long Ridge. Oritain does not disclose its valuation except to confirm that it is higher than its predecessor due to an annual growth rate of over 90 percent and over 100 percent retention of its customers. Oritain currently provides SaaS-based tools for researching the origins of food and textiles. It works with 100 companies. Especially large multinationals like Nescafé, Lacoste, Supima and Primark who use it to make sure they get what they expect.

The company operates on the assumption that an object and its materials essentially tell a story. In an interview, CEO Grant Cochrane said that this story can be uncovered using methods not unlike those used by forensic experts in a crime lab. Cotton grown in one part of the world will look different under a microscope in a lab than cotton grown elsewhere. Factors such as changes in the environment play a more important role in how cotton grows and looks than you might imagine. Events such as earthquakes and fires, as well as normal ground conditions in a particular area, can be monitored by closely examining the material and comparing it with other material and other data.

Measurements are also saved in a database

Oritain takes a wide range of measurements and then compares them with other information it has about a location (the alleged source) to determine whether this material (in this case cotton, but it could be coffee or something else) is actually from the area. The measurements are also recorded in a huge database. This can be used to help identify or verify the true origin of future objects that may have some of the same characteristics. Cochrane said that the science on this is robust enough that experts who have gone to court in mock trials have used Oritain's data as evidence, and this is true.