SafeTraces Closes $6.5 Million

Food technology startup SafeTraces announced it has raised $6.5 million in Series A financing led by Omidyar Network and UL Ventures, with participation from S2G Ventures, Maumee Ventures, City Light Capital, and Tuscan Management.

SafeTraces provides on-food traceability solutions that trace the product, not the package. FDA-approved barcodes that are edible, invisible, odorless, and tasteless are applied to fresh or processed foods, pharmaceuticals, and many other commodities. These barcodes carry complete information across supply chains, and also have wide applicability in environmental monitoring, healthcare, and other industries.

This round brings SafeTraces’ total investment since launching to $8.5 million. According to the company, it will use the funds to expand its sales efforts aggressively and accelerate its product development.