Gainesville and Boca Raton, FL – January 7, 2015 – The Florida Institute for Commercialization of Public Research (the Institute) has announced that it has finalized a funding agreement with Comm-N-Sense (DBA: Verigo), a company that provides monitoring and tracking solutions to improve operations for businesses that rely on perishable supply chains. The Institute supports new company creation based on publicly-funded research, and bridges early funding gaps for companies spinning out of Florida-based universities and research institutions.
Each year $35 billion of perishables spoil in transit. With technology licensed from the University of Florida, Verigo is providing low-cost supply-chain monitoring solutions that enable tracking of shipped packages down to the case level for businesses that focus on shipping delicate materials and perishable items with a short shelf life such as biologics, pharmaceuticals, and produce. The wireless sensor tags and seamless communication software allow companies to monitor products every mile of the way, synchronizing all information to the “cloud” automatically.
“Users can gain access to all their information via any smartphone or tablet running our free app,” said Founder and President Adam Kinsey. “App users can access data and configure tags easily, and our web interface facilitates decision making for logistics managers.”
“In North America 12% of produce is wasted from supply chain weaknesses, and Verigo is increasing vendor efficiency and accountability, ensuring that every product reaches the customer at its prime,” said Jamie Grooms, Institute Chief Executive Officer. “By providing real time shelf life estimation, Verigo is reducing waste while improving vendor operations and profitability.”
About the Institute
Formed by the Florida Legislature in 2007, the Florida Institute for the Commercialization of Public Research is a non-profit organization that works collaboratively with the technology licensing and commercialization offices of Florida’s state universities and private research institutions to leverage a $2B+ research base and form investable companies that create clean jobs in new industries that are driving the global economy. Over 100 new company projects have been identified across the state, and the Institute deploys company building and funding programs to promising Florida startups. Thirty-five companies have been funded since the program’s inception.
Verigo provides solutions for businesses that rely on a cold chain through affordable, wireless sensor tags and seamless communication software to help managers accurately monitor perishable products every mile of the way. This service makes it easy for businesses to collect real-time metrics, independently validate shipment integrity, and ensure optimal product quality during the distribution process. Verigo’s hardware as a service (HaaS) system is based on intellectual property licensed from the University of Florida.