The startup keeping a close eye on the luxury industry – Venturelab
A jury of experts and investors reviewed 90 applications and selected Adresta to participate in the Venture Leaders Mobile 2022 roadshow. At the end of February, the Zurich startup and members of the Swiss National Startup Team will participate in the Mobile World Congress 2022 in Barcelona. Before the 10 entrepreneurs meet with top investors and industry leaders to strengthen their business network and advance their globalization, we want to introduce you to Adresta Co-Founder and CEO, Mathew Jobin Chittazhathu.
Adresta combines new technologies and blockchain to redefine your physical product experience. Starting with watches, Adresta’s SaaS offers innovative solutions and enables brands to know their end consumer throughout the product life cycle. The Zurich-based startup creates digital twins for luxury goods, connects them to the rightful owner and makes them accessible through its web and mobile apps as well as the story of a watch – from its maker to maintenance and repair at used sales. Adresta increases transparency and security and opens up a trusted digital ecosystem with integrated services, such as insurance.
Name: Mathew Jobin Chittazhathu
Graduated with: MSc. business administration, innovation management
Job title: Co-founder and CEO of Adresta
Number of employees: 9
The money raised: CHF 1 million
First point of contact with Venturelab: In 2020, we participated in the Innosuisse Start-up Training Business Creation ICT
Mathew, can you summarize what Adresta does?
Adresta provides a SaaS for luxury brands to redefine the ownership experience by creating digital twins (NFTs) for their end-consumer owned physical products. NFTs connect brand, owner and third parties to a mobile-centric digital ecosystem with facilitated after-sales processes and value-added services, such as insurance.
How and where did you get the idea for your startup?
Adresta was incubated within the Helvetia insurance group, where I worked as a senior manager for the business development unit. It all started with a small project focused on the second-hand market for high-end watches, where a huge dilemma of trust exists – you never know if a watch is genuine or not. We also spoke to watch manufacturers and realized they struggled to know their customers and engage with them. That’s when we came up with the idea of creating software that would allow brands to create a blockchain-based digital twin for every product sold. Owners claim it on their Adresta account and prove authenticity, ownership and access to a whole new world of experiences.
What are your expectations from the Venture Leaders Mobile roadshow and how will it help you realize your vision?
We look forward to meeting potential investors and collaboration partners and sharing our vision of impacting customer experience in the luxury industry. Additionally, we are also looking forward to meeting potential partners to add to our digital ecosystem for the luxury industry.
What was your dream job when you were a kid?
As a child, we visited India twice a year. During these visits, I was shocked to see the poverty and wanted to change something. So I wanted to become the Indian president to help these people.
What’s always in your fridge?
Naturally, with my roots, I like spicy foods. I use spices for literally everything – in my pasta, my sandwich, etc. Therefore, I always have something spicy in my fridge.
What advice would you give to your teenager?
There’s a lot of advice I would give to my teens. But the most important advice I would give is simple and straightforward: buy Bitcoins as soon as possible.
What’s your favorite productivity hack?
Sometimes I prefer to call people instead of sending e-mails. It saves time and usually you get more information from a phone call than an email conversation.
Where and when are you most productive?
I like being in the office early in the morning and getting things done.
How and where to clear your mind?
Spending time with my family and friends helps clear my mind. I also like to follow the games of my favorite basketball team, the Los Angeles Lakers.
Who inspires you?
My parents’ work ethic and focus are very remarkable. They sacrificed a lot coming to a country whose language they barely knew and had to integrate into a different culture – without them I wouldn’t be giving this interview.
What is the most important lesson you learned as a founder?
Surround yourself with great co-founders. The starter course is a marathon. You don’t want to be alone on this journey. I had the chance to meet my co-founders, Leonie Flückiger and Nicolas Borgeaud, and I’m grateful to build my startup with them.
What’s the best advice you’ve ever received?
One of my mentors gave me the following advice: When the going gets tough, the easiest thing to do is run away. But you can’t always run when life gets tough – you’ll end up running all your life. You have to learn to absorb it and feel comfortable stepping out of your comfort zone.
For more information and updates on Adresta and the Venture Leaders Mobile, follow the Venture Leaders Mobile 2022 team with #VleadersMobile on social networks or subscribe to our newsletter.
This year’s Venture Leaders Mobile program is supported by Huawei, Swisscom and VISCHER.
Adresta is a Swiss-based technology company that provides SaaS to luxury brands to redefine the ownership experience by creating NFTs for their physical products purchased and owned by the end consumer. The… Read more