Lumachain, a Denver, CO and Sydney, Australia-based provider of an end-to-end solution for food supply chains, raised US$19.5M in Series A funding.
The round was led by Bessemer Venture Partners with participation from existing investor Main Sequence.
The company intends to use the funds to accelerate the roll out of its computer vision-based artificial intelligence platform at meat and food processing plants across the U.S. and globally, scale up its team of computer vision and software engineers, and delivery and product experts from the meat industry.
Led by CEO Jamila Gordon, Lumachain provides a platform that offers customers five core modules: safety, yield, quality, efficiency, and traceability. The solution also drives improved Environmental, Social and Governance (ESG) outcomes, including improved animal wellbeing and end-to-end traceability data to enable positive change throughout the meat supply chain. Lumachain also enables ranchers and other producers to be rewarded for producing high quality meat and embracing sustainable practices.
The company currently has contracts with customers across the U.S., Australia, Europe and Asia. Foundation customers include Cargill, Coles, OSI and others. Its team of over 40 software and computer vision engineers, product and delivery experts spans the U.S., Europe, Asia and Australia.
Over the next 12 months, Lumachain expects to increase its U.S. team to approximately 30 personnel, as part of a global team of more than 100.
FinSMEs
26/08/2022