Ripe Technology (ripe.io), a San Francisco, CA-based provider of enterprise blockchain technology for the food and agriculture industry, completed a $2.4m seed financing.
The round was led by Maersk Growth, the venture capital arm of Maersk, the global leader in container logistics, and Relish Works.
The company will use the funds to continue to expand operations and its development efforts.
Founded in 2017 by Raja Ramachandran, CEO, ripe.io is a food supply chain digitization platform which works to improve transparency for food origin, quality, traceability, flavor, sustainability and safety through a technology solution allowing all actors participating in the food value chain, from growers, to labs, to distributors, to retailers, to contribute data and map the journey of food.
At the core of their products and services there is the “Blockchain of Food”, a food quality network enabled by “Food Bundles” that capture and share the full lifecycle of a product from the seed to a consumer.