Lumachain, a Denver, CO, and Sydney, Australia-based food supply chain end-to-end solution, announced that it raised $19.5 million in Series A funding.
The round was led by Bessemer Venture Partners, with participation from existing investor Main Sequence.
This investment will allow the company to accelerate the deployment of its world-first computer vision-based artificial intelligence platform at meat and food processing plants in the United States and globally.
Lumachain will also significantly expand its team of computer vision and software engineers, as well as delivery and product experts from the meat industry.
Over the next year, the company expects to expand its U.S. team to around 30 people, as part of a global team of more than 100.
The company has also announced the location of its first US headquarters, which will be in Denver. Lumachain is digitizing the US$1.5 trillion global meat industry, to change how the world’s food is produced for good.
Company: Lumachain Operations Pty Ltd.
Raised: $19.5M
Round: Series A
Funding Month: Aug 2022
Lead Investors: Bessemer Venture Partners
Additional Investors: Main Sequence
Company Website: https://lumachain.io/
Software Category: Food Supply Chain End-to-End solution
About the Company: Lumachain was founded in 2018 by Australian national Jamila Gordon and operates from headquarters in Sydney and Denver. Lumachain is a technology platform that disrupts traditional enterprise supply chains using blockchain, IoT, algorithms & AI; to provide transparency, safety & trust throughout the supply chain. The company was recognized as a Rising Star as part of the Forbes 2022 Cloud 100 list. The Lumachain platform offers customers five core modules: safety, yield, quality, efficiency, and traceability. Its team of over 40 software and computer vision engineers, and product and delivery experts spans the U.S., Europe, Asia, and Australia. Lumachain currently has contracts with customers across the U.S., Australia, Europe, and Asia. The company is headquartered in Sydney, NSW, and Denver, Colorado.
Source: https://www.globenewswire.com/news-release/2022/08/25/2504722/0/en/Lumachain-Raises-US-19-5M-in-Series-A-Funding-Led-by-Bessemer-Venture-Partners.html