Sproxil, a provider of a mobile authentication system for identifying counterfeit medicine in developing countries, has brought in $1.8 million in equity funding from one investor, according to an SEC filing. The firm, which started in Somerville, MA, in 2009, first hit our radar when it won IBM’s SmartCamp competition last summer, and has participated in other business plan competitions like MassChallenge. In January, Sproxil chief financial officer Alden Zecha told me that the startup was adding to the pool of pharmaceutical companies that use its service and was eyeing Series A money to increase its staff. Neither Zecha nor CEO Ashifi Gogo could be reached for comment this morning, but we’ll be sure to update this space if they have anything to say on the newest financing.
Author: Erin Kutz
Erin Kutz has a background in covering business, politics and general news. She holds a bachelor’s degree in journalism from Boston University. Erin previously worked in the Boston bureau of Reuters, where she wrote articles on the investment management and mutual fund industries. While in college, she researched for USA Today reporter Jayne O’Donnell’s book, Gen Buy: How Tweens, Teens and Twenty-Somethings Are Revolutionizing Retail. She also spent a semester in Washington, DC, reporting Capitol Hill stories as a correspondent for two Connecticut newspapers and interning in the Money section of USA Today, where she assisted with coverage on the retail and small business beats. Erin got her first taste of reporting at Boston University’s independent student newspaper, as a city section reporter and fact checker and editor of the paper’s weekly business section.
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