Food Safety SaaS Provider Secures $19.5 Million
FoodLogiQ, a leading SaaS provider of traceability, food safety and supply chain transparency solutions, raised $19.5 million in growth financing to accelerate its rapid expansion across the food industry.
The round of financing includes strategic investors Testo, Inc., a global provider of HACCP solutions and IoT technology, and Tyson Ventures, the corporate venture subsidiary of Tyson Foods, along with Pontifax AgTech, a pioneering growth capital investor in food and agriculture technology, Nicola Wealth Management, a Canadian-based asset fund management and private investment counsel firm, and Greenhouse Capital, an investor in emerging businesses that promote health and sustainable living. The round was led by Renewal Funds when the mission-based venture capital firm invested in FoodLogiQ in September 2017.
According to the company, FoodLogiQ offers the most comprehensive, data-driven software solutions that enable supplier management, food safety compliance, quality incident management, recall management and whole chain traceability – all on a single platform built exclusively for the food industry. The funding will be used to accelerate product enhancements, research and development, expanded sales, marketing, and customer success.