Denver and Sydney, an Australia-based provider of an end-to-end solution for food supply chains, Lumachain, raised USD 19.5 million. The Series A round took place on August 25, 2022. Bessemer Venture Partners led the financing for the firm. Meanwhile, existing investor Main Sequence joined in the funding.
In addition, the company announced its first U.S headquarters in Denver.
Purpose of funding by Lumachain
With the latest investment, the company intends to accelerate the rollout of its world-first computer vision-based artificial intelligence platform at meat and food processing plants across the U.S. and globally.
In addition, Lumachain seeks to significantly scale up its team of computer vision and software engineers. Moreover, it plans to ramp up hiring across the delivery and product experts from the meat industry.
Over the next 12 months, the company expects to increase its U.S. team to approximately 30 personnel as a part of its global team of more than 100. Australian
CEO and Founder Jamila Gordon will be based in Denver. The purpose is to scale up its U.S. team as it continues to roll out the platform to customers.
What the Lumachain official has to say
CEO and Founder Jamila Gordon said, “Lumachain’s mission is to transform the global meat industry for the good of our customers, employees, and the planet. Today’s investment accelerates our ability to achieve this mission. Our computer vision artificial intelligence platform represents a huge step forward for the industry. Built-in close partnership with the world’s leading meat and food processors, it creates a safer environment for workers, safer and higher quality food, and end-to-end transparency across the protein supply chain, driving improved ESG and environmental outcomes.”
What the investor has to say
Tess Hatch, the partner at Bessemer Venture Partners, said, “We’re excited to partner with Lumachain to support their continued expansion as they transform the global meat industry. Their technology platform and deep customer relationships are impressive achievements already, at a time when innovation and ESG are top of mind in industry and society. We look forward to partnering in Lumachain’s continuing success.”
What the customers have to say
Hans Kabat, president of Cargill’s North American protein business, said, “We’re embracing cutting-edge technology and innovation across our protein supply chain. Lumachain is a key part of our efforts. It helps support some of the biggest challenges at our production facilities by using computer vision and artificial intelligence to drive efficiencies, create a safer work environment, improve the consistency and quality of our products and enable a more sustainable environment. Ultimately, our goal is to make our people safe, our plants more efficient, and our customers more successful.”
“Through Lumachain’s AI technology and solutions, OSI is expanding our innovation to ensure we consistently remain a leader in food safety, quality standards, and operations excellence,” said Mark Richardson, Senior EVP International Division, OSI Group. He added, “We are also proud to use Lumachain’s digitization platform, which allows us to evolve our whole of life traceability to the world’s leading food brands we support.”
Martin Smithson, General Manager of Meat at Coles, said, “Coles is partnering with Lumachain to strengthen the use of data and insights throughout the supply chain, from paddock to plate. Traceability through the end-to-end meat supply chain is important to Coles’ sustainability strategy. We’re excited about the opportunity to leverage Lumachain’s cutting-edge computer-vision technology.”
About the company
Lumachain was founded in 2018 by Australian national Jamila Gordon. It operates from headquarters in Sydney and Denver. The company caters for an end-to-end solution for food supply chains. Lumachain currently has a solid customer base across the U.S., Australia, Europe and Asia.
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