Image credit: Studio Romantic via Shutterstock
Hectare, a startup operating in the sustainable food supply-chain space, has raised $20m (£16.5m) in its Series A funding round.
Founded in 2015, Hectare offers a software-as-a-service (SaaS) product that provides insights into inventory, trading, logistics, and the sustainable food market to farming businesses.
“The toughest challenges to solve are often the ones you can’t see, even for those of us who are involved in the movement of crops and livestock day in, day out,” said Hectare CEO Jamie McInnes.
“Our aim is to solve the invisible problems in the food supply chain by creating connected digital solutions that enable everyone to make small, practical changes – from sourcing grain more locally to digitising paper-based processes like invoicing – to help hit big goals.”
Hectare said that more than 130,000 farm businesses use its software solutions, which according to the company reduces carbon footprint, an important goal for those in the livestock trade, a significant contributor to global CO2 emissions.
“Whether the focus is enhanced animal welfare or peace of mind on food sustainability and security, our vision is to create a connected farm-to-factory gate supply chain so crops, livestock and customers are looked after through sustainable agriculture,” added McInnes.
The Series A funds will go towards further development of its software products, as well as expanding into international markets.
The food supply-chain investment comes at a critical moment in the industry for the UK, which continues to experience shortages of products like tomatoes.