iTraceiT

What iTraceiT does

iTraceiT is a Belgian software company that operates a cloud-based, blockchain-powered traceability platform for regulated, high-value, and globally distributed supply chains. The platform is built on a fully stateless, service-oriented architecture with client-owned encrypted databases (non-open-source DBMS, AES encryption, zero local data storage) and is delivered as modular SaaS through three integrated modules: a Workflow module for tracking movements, ownership, batch splitting/merging and compliance documents; an immutable Ledger module that records every action on a blockchain layer; and a Mobile App that adds field-level QR scanning, geolocation, image capture and document verification. The technical stack includes dynamic QR codes, role-based access control with two-factor authentication, IP whitelisting, and an open API integrating with SAP, Salesforce, LIMS, grading labs, logistics providers, and regulatory databases; optional add-ons include the Enhanced Ledger (legal-grade notarization via the Logion partnership), a 2FA Enterprise Layer, and an AI-driven fraud detection module.

The company commercializes the platform through a subscription model with monthly or annual billing, modular add-ons, and a Stripe-integrated checkout supporting both enterprise field sales and self-serve signup. The leadership team combines deep technical expertise (CTO Guy De Smet, with 20+ years of IT experience and prior work at the European Commission) with sector credibility (CEO Frederik Degryse, with 11+ years in the diamond industry at AWDC, Dominion Diamond and UNI). Its primary customer segments are the diamond, jewelry and precious-materials industries (mine-to-retail chain of custody, RJC and G7 compliance, blockchain documentation), with secondary expansion into luxury, fashion and sustainable agriculture/food. iTraceiT reports 100+ member companies, $500M+ in tracked product value, six-country operations, 3x ARR growth in 2024 and 0% churn, and is actively positioning for the EU Digital Product Passport rollout and 2026 EU diamond traceability mandates.

Name

iTraceiT

Legal name

iTraceiT BV/SRL

Website

https://itraceit.io

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

iTraceiT is a Belgian SaaS company that provides a cloud-based, blockchain-powered traceability platform enabling diamond, jewelry, luxury, precious-materials and agri-food companies to verify product origin, meet regulatory compliance and deliver immutable chain-of-custody records.

Ownership category

akta.pro rank

Product category

Supply Chain Traceability Software

akta.pro primary industry

Diamond & Gemstone B2B Exchanges/Marketplaces (CRAKAJAJ)

akta.pro secondary industries

Serialization, Lot/Batch & Label Traceability Verification (AFALAGAG), Blockchain/Digital Traceability Validation & Data Integrity Audits (AFALAGAF)

Keywords

• Supply chain traceability
• Blockchain compliance platform
• Digital product passport
• Provenance verification software
• ESG reporting tools

Headquarters

HQ city

Hennuyères

HQ country

Belgium

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations

Revenue model

1. SaaS Platform Subscription: Core revenue from cloud-based blockchain traceability platform subscription. Offers monthly or annual billing plans with customizable add-ons such as Enhanced Ledger (for legal notarization), 2FA Enterprise Layer, and AI-driven fraud detection. Stripe-integrated checkout for seamless onboarding.
2. Premium Add-ons & Modules: Additional revenue from add-on modules including Enhanced Ledger for legal notarization, 2FA Enterprise Layer, and AI-driven fraud detection capabilities. Modular approach allows customers to customize their platform based on compliance and security needs.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

iTraceiT provides a cloud-based, blockchain-powered traceability platform that captures product origin, records every transfer and transformation on an immutable ledger, and exposes chain-of-custody data through dynamic QR codes and an open API. It is sold primarily as a SaaS subscription to enterprises in the diamond, jewelry, precious materials, luxury goods, and sustainable agriculture sectors that need to verify provenance, meet EU DPP, G7 sanctions, RJC, OECD, and EUDR obligations, and produce ESG disclosure.

Product overview

iTraceiT is a blockchain-powered traceability platform built as a unified core product with modular architecture. The platform consists of three key integrated modules: the Workflow Module (for tracking movements, ownership, and compliance documents with batch splitting/merging capabilities), the Ledger Module (immutable blockchain layer for tamper-proof records), and the Mobile App (for field operations with QR scanning and document verification). Add-on modules include Enhanced Ledger (legal notarization via Logion partnership), 2FA Enterprise Layer, and AI-Driven Fraud Detection. Additional features include QR Code Tracking and Digital Product Passport (EU DPP) support. The platform connects ERP systems, LIMS, grading labs, logistics providers, and regulatory databases via an open API architecture, with Stripe payment integration for seamless onboarding.

Differentiator

Problem solved

Functional benefit

Products and services

• iTraceiT Platform Cloud-based, blockchain-powered end-to-end traceability platform sold as a SaaS subscription to enterprises in diamond, jewelry, precious materials, luxury goods, and sustainable agriculture supply chains. It captures origin data, records every transfer and transformation on an immutable ledger, exposes chain-of-custody via dynamic QR codes, and integrates with ERP, LIMS, grading labs, logistics, and regulatory databases through an open API.
• Digital Diamond Passport Digital passport product using blockchain and QR codes to record each step of a diamond's journey, providing traceability from mine to jeweller for diamond industry members and their end consumers.

Quantifiable outcome

• 100+ clients onboarded across diamond and jewelry supply chain within 2 years of commercial launch
• +5 more outcomes

Named customers16 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

AI capability3 records

Feature9 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Antwerpsche Diamantkring (Antwerp Diamond Bourse)coreStrategic or Co-development Partner · 28 April 2022Official launch venue for iTraceiT's blockchain traceability application at Antwerp's rough diamond trading venue, establishing credibility in diamond industry heartland.
• SCS Global ServicescoreTechnology or IntegrationSCS Global Services is a leading certification body for environmental and sustainability claims. Partnership enables integration of quality certificates and validation of origin for products tracked on iTraceiT platform. Featured prominently in partner logos section.
• Aura Blockchain ConsortiumcoreStrategic or Co-development PartnerConsortium founded by luxury brands LVMH, Prada, and Cartier for blockchain-based luxury product traceability. Strategic partnership positions iTraceiT within broader luxury industry blockchain ecosystem.
• LogioncoreTechnology or IntegrationLegal-grade blockchain validation partner. Logion provides optional digital notarization of documents, making traceability records court-admissible and legally valid for audits and legal proceedings. Critical differentiator for compliance-focused customers.
• Hari Krishna ExportminorStrategic or Co-development PartnerIndian diamond manufacturer collaborating with iTraceiT to implement end-to-end traceability from source to consumer. Company uses blockchain and QR-code solution to track diamond journey throughout supply chain.
• IT PlaceminorOthersParent company or related entity. Guy De Smet serves as Managing Director of IT Place.com, which appears to be the parent/affiliated company. Shared address and management team.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Tracr: De Beers Group-backed blockchain platform that tracks diamonds from mine to retail using digital IDs. Direct competitor to iTraceiT in the same diamond-traceability niche with similar immutability and chain-of-custody value proposition.
• Everledger: Blockchain provenance platform originally built for diamonds and now extended to luxury, apparel, wine, and minerals. Competes head-on with iTraceiT on immutable asset traceability and ESG/sourcing compliance.
• Circulor: Enterprise supply chain traceability platform using blockchain and AI to track raw materials (cobalt, lithium, rubber) and luxury goods. Direct peer to iTraceiT in cross-industry provenance and ESG reporting.
• Provenance: Blockchain-based supply chain transparency platform focused on product stories, certifications, and sustainability claims across food, fashion, and home goods. Comparable SaaS positioning and buyer persona to iTraceiT.
• Minespider: Blockchain platform for responsible mineral and battery supply chain traceability, including cobalt, lithium, and conflict minerals. Overlaps directly with iTraceiT's Precious Materials & Critical Minerals segment.
• OriginTrail: Decentralized knowledge graph that provides supply chain traceability and AI-ready data sharing for food, fashion, and industrial supply chains. Comparable tech stack (blockchain + interoperability) and regulatory focus to iTraceiT.

Emerging players

• TraceX Technologies: Blockchain-based traceability platform focused on food and agriculture supply chains, including farm-to-fork visibility. Direct overlap with iTraceiT's Sustainable Agriculture & Food vertical and EUDR-aligned buyer use cases.

Others

• Aura Blockchain Consortium: Luxury-industry consortium (LVMH, Prada, Cartier, OTB, Richemont) that runs a shared blockchain for product traceability. Functions as a partner/ecosystem layer that competes with iTraceiT in luxury traceability rather than a direct rival product.

Broad incumbents

• IBM Food Trust: Enterprise blockchain network for food supply chain traceability operated by IBM. Broad incumbent competing for large-scale traceability RFPs that iTraceiT also targets in food/agriculture.
• VeChain: Public enterprise blockchain platform used across luxury, food, and industrial supply chains for traceability and authentication. Broad-incumbent competitor offering similar immutable-ledger capabilities to iTraceiT.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/itraceit-solutions

Compliance12 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about iTraceiT