Today, the Oxford Seed Fund announced the first of two annual investments with a £25,000 investment in Veratrak, a blockchain-based software solution for the pharmaceutical supply chain.
Veratrak’s founding team is made up of Matthew Wilson, an Oxford Physics alumnus, and Jason Lacombe, a current DPhil in Population Health at the University of Oxford. Prior to cofounding Veratrak, Wilson worked in product management and technology at a digital consultancy, where he was working to build one of the first blockchain-based medical record systems. Lacombe previously worked as a health economist examining the cost and distribution of pharmaceutical products. Both met while studying at the University of Oxford and co-founded the company just over one year ago.
'Efficient pharmaceutical supply chains are essential for delivering high quality, cost effective and increasingly personalised medicines,' said Wilson. 'Our cutting-edge solution gives supply chain companies a new way to work together with their customers, suppliers and partners to deliver medicine to patients in a safe, efficient and secure manner. The majority of the team are proud Oxford alumni and as such we’re delighted to be backed by the Oxford Seed Fund.'
'This year, the Oxford Seed Fund received an outstanding number of over 100 funding applications,' said Seed Fund Managing Director Max Langer. 'Having worked with Veratrak over several months, we were impressed with their technical and commercial team, their vision and their track record of executing against their growth strategy. We are thrilled to invest alongside Tom Wilson of Seedcamp, who has been a long-time supporter and advisory board member to our team. We are delighted to welcome Veratrak to the Oxford Seed Fund family and can’t wait to follow and support their progress in coming years.'
Follow Veratrak here:
About the Oxford Seed Fund
Founded and run by the Entrepreneurship Centre at the University of Oxford’s Saïd Business School, the Oxford Seed Fund is a student-led team of entrepreneurs, investors and industry specialists. The fund invests up to £50,000 in early-stage ventures founded by Oxford students, alumni, and faculty and provides them with the network and support they need to scale.