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Sumitomo Corporation Group Announces Partnership with TruTag Technologies; Plans Security and Tech Enhancements across Global Supply ChainsNEW YORK, Dec. 4, 2017 /PRNewswire/ -- Sumitomo Corporation of Americas ("SCOA") and Sumitomo Corporation (together "Sumitomo Corporation Group"), an integrated global trading and investment enterprise, is pleased to announce its investment in TruTag Technologies ("TruTag") through the Presidio Ventures SCOA Fund, LLC, Sumitomo's platform for investing in startups. TruTag is the first investment made through the Presidio Ventures SCOA Fund. TruTag is the world leader for precision fabrication of nano-porous silica, advanced mobile hyperspectral imaging, and data management to provide a complete product identity and supply chain security solution to improve the safety, traceability, and authenticity of branded products across broad industries. Applications include edible on-product identity solutions for food and medicine; and secure labels and documents for businesses and governments. In addition, TruTag's advanced spectral and spatial imaging products are expanding into agricultural management, smart farming, machine vision, biomedical imaging and point-of-care diagnostics. "Sumitomo Corporation of Americas is excited to partner with TruTag and their impressive technology platform," said Tom Wada, General Manager of Sumitomo Corporation of Americas' Silicon Valley office. "We are confident that our deep-rooted relationships and existing partnerships across numerous industries will provide TruTag tremendous expansion, while deeply enhancing security and traceability throughout the supply chain of these networks." TruTag Technologies and Sumitomo will collaborate to bring TruTag's technology platform to diverse markets and industries where Sumitomo has deep business experience and relationships across the world. The partnership will adapt TruTag's technology platform for product identity, traceability, and supply chain management of various Sumitomo divisions worldwide. "We are looking forward to collaborating with Sumitomo Corporation of Americas to build a globally-focused and comprehensive product identity partnership that will have a tremendous impct on Sumitomo's existing markets as well as drive successful expansion of TruTag's technology platform into exciting new industries. We are excited to work with a company of Sumitomo's caliber and to mutually provide an industry-leading product identity platform across diverse markets with significant real-world impact to brand protection, product traceability, and consumer safety," said Michael Bartholomeusz, Chief Executive Officer of TruTag Technologies. About Sumitomo Corporation of Americas About the Presidio Ventures SCOA Fund, LLC About TruTag Technologies TruTag Technologies has been recognized by the SPIE Prism Awards, Frost & Sullivan, the Edison Awards, Fast Company, and R&D 100, and was selected a Technology Pioneer by the World Economic Forum as one of the most influential technology companies in the world. Learn more at www.TruTags.com. View original content:http://www.prnewswire.com/news-releases/sumitomo-corporation-group-announces-partnership-with-trutag-technologies-plans-security-and-tech-enhancements-across-global-supply-chains-300565426.html SOURCE Sumitomo Corporation of Americas |