FoodDocs, a Tallinn, Estonia-based food safety compliance software developer, secured $2.4 million to solve food safety compliance issues with the help of Artificial Intelligence.
The round was led by Bonnier Ventures, with Forward Venture Capital, Spring Capital, and existing investors United Angel VC.
FoodDocs will use the investment to continue the strategic growth journey, drive further expansion in the US and the UK to reach more clients and partners, and further improve AI capabilities.
Funding Month: February 2022
Lead Investors: Bonnier Ventures
Additional Investors: Forward Venture Capital, Spring Capital, and United Angel VC
Company Website: https://www.fooddocs.com/
Software Category: AI-powered Food Safety System
About the Company: Established by two female HACCP consultants in 2017, with more than 30 years of shared experience in the food industry, the two women were well aware of one of the biggest problems in the food industry: managing food safety management systems, including creating a HACCP plan. FoodDocs provides an AI-powered food safety system with an integrated hazard analysis and critical control point plan builder. The AI compiles the food safety documents you need to submit to your local authority to build a plan in ‘less than an hour, without the need for a food safety consultant. FoodDocs helps to create and maintain food safety management systems more easily, the solution saves 120 working hours on getting compliant and one working day each week on staying compliant.
Source: https://www.foodmanufacture.co.uk/Article/2022/02/11/AI-food-safety-system-secures-1.8m-investment https://www.globallegalchronicle.com/fooddocs-2-4-million-financing-round/