Research says that counterfeit medication is the cause of 1 million deaths per year. One-tenth of this number comes from Africa. Counterfeiting is hard to detect, investigate, quantify or stop. It is a global problem, with annual earnings from substandard drugs standing at over $100 billion.
Some technologies have helped deal with this menace; for instance, radio frequency identification, which works by assigning serial numbers to containers of each product. More modern approaches are being adopted these days, which is the case of RxAll, a startup using deep technology to provide quality medication to patients. Today, the U.S. and Nigerian-based company is announcing a financing round of $3.15 million to scale across existing markets and improve its technology.