Ocode steps up a gear with its blockchain tagging technology

Ocode does not hide its ambitions: to become the leader in the marking and protection of objects, a segment of activity in which the Vendée company has positioned itself since 2016 with proprietary technology. This makes it possible to certify the origin, ownership and traceability of an object or document throughout its life cycle by means of a unique code engraved by laser or affixed via a sticker.

A private blockchain

Ocode’s system is based on a private blockchain. “Because of its decentralization, this system guarantees the reliability and traceability of information. And token-to-token communication allows the different parties to contact each other without transmitting personal details”explains Vincent Roux, one of the four founders and partners of Ocode.

At this stage, the latter mention having invested 4 million euros in R&D to develop their technology, in equity, with bank and Bpifrance financing. Since last spring, the financial support of the Dubreuil group has also been added (5,150 employees, 2.1 billion euros in turnover). The Vendée industrialist, present in multiple sectors, including the automobile, air transport with FrenchBee, agricultural machinery and even construction, entered the capital of Ocode in a minority manner.

The world of cycling

This entry into the capital should allow Ocode to support its commercial acceleration. In 2021, the start-up achieved a turnover of 3.1 million euros, partly linked to a multi-year contract signed with the State which has made the marking of bicycles compulsory since January 1, 2021. 2020, the government had adopted Ocode’s technology as part of the bicycle plan.

“Today, they have mandated us, in partnership with the National Printing Office, to make available for our blockchain to ensure the marking of bicycles.” But other players in the world of cycling, “half”, as Vincent Roux estimates, rely on Ocode’s marking technology such as Decathlon, Arkane or La Manufacture du cycle. “Some, like O2feel, even use our entire system, including the protection and communication system.”

Other market segments

As Vincent Roux mentions, “The world of cycling has been a laboratory for testing different uses such as industrial or post-sales traceability. It has been a stepping stone towards other sectors.” In BtoB, Ocode addresses the market for the fight against counterfeiting or securing second-hand purchases.

“Any branded product becomes unique, and its identity verifiable. We target products such as sneakers, sports or luxury equipment,” explains the leader, mentioning new contracts being finalized. Its technology is thus used by Voltaire design, a manufacturer of high-end riding saddles. In BtoB, its economic model is based on the invoicing of the marking of a product. , the price depending on the value and volume of the object in question.In industry, its marking technology also interfaces with existing traceability systems.

Become a standard

At this stage, Ocode mentions having issued 22 million codes. But the start-up wants to make it an international standard. “The challenge is therefore that the Ocode be known to everyone, and become a reference. To develop our community and its uses, we are going to distribute free codes, which everyone can use as they wish. We are inventing a new form messaging by subject that does not require any identification or transfer of personal information.

Between La Roche-sur-Yon and Nantes, Ocode currently employs 42 people, including around ten people recruited since the beginning of the year. Other hirings are planned for the finalization of the commercial contracts in progress, the managers being part of a logic of controlled growth.

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