US-based food safety and supply chain monitoring company FoodLogiq has raised $19.5m in funding from investors including quality management systems manufacturer Testo and food producer Tyson Foods’ investment unit Tyson Ventures.
Pontifax AgTech, Nicola Wealth Management and Greenhouse Capital also participated in the round, which was closed following an initial tranche of undisclosed size provided by lead investor Renewal Funds in September 2017.
FoodLogiq operates a data-driven software-as-a-service platform that offers supplier management, safety compliance, quality incident management, recall management and supply chain traceability in the food industry.
The cash will allow FoodLogiq to accelerate product development, drive R&D efforts and expand sales, marketing and customer support activities.
FoodLogiq previously obtained an undisclosed amount of funding from consultancy Clarkston-Potomac.
Justin Whitmore, executive vice-president of corporate strategy and chief sustainability officer of Tyson Foods, said: “Tyson Ventures invests in companies that are developing breakthrough solutions for the food supply chain, and we see FoodLogiq as a leader in technology-enabled traceability.
“We are excited to collaborate with such an innovative organisation that, like Tyson Foods, wants to make a lasting, positive impact on the food industry.”