Strella Biotechnology, Inc., a Seattle, WA-based developer of proprietary produce sensor technology designed to reduce food waste and improve quality, closed a Series A funding round totaling $8m.
The round was led by Millennium New Horizons with participation from Google Ventures and Rich Products Ventures and joined by existing investors Mark Cuban, Yamaha Motor Ventures, Catapult Ventures and Union Labs.
Led by Katherine Sizov, CEO and co-founder, Strella leverages novel IoT biosensors and real-time data streaming to measure the maturity, or ripeness, of each fruit produce. The technology enables freshness to be monitored from harvest to grocery store shelf, helping to reduce food waste and drive produce quality.
With initial adoption in the apple industry, this latest financing will support the company’s expansion in grocery chain rollouts at national scale, and further product development to address additional commodities. Strella is currently working with upstream fruit suppliers and some of the nation’s largest importers and retailers. To date, the company has monitored over 2.1 billion pieces of fruit.
FinSMEs
07/06/2022