Industry News | September 20, 2017

FoodLogiQ Secures Lead Investor for Series B Financing

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FoodLogiQ, the leading SaaS provider of traceability, food safety, and supply chain transparency solutions, has secured a lead investor to help fuel its rapid growth to dominate the food technology space. The latest round is being led by Renewal Funds for an undisclosed amount.

Renewal Funds, a mission-based venture capital firm based in Vancouver, B.C., invests in food and technology companies that have strong values and exceptional ideas. The partnership between FoodLogiQ and Renewal Funds will accelerate FoodLogiQ’s mission to map the world’s food chain, make it as safe as possible and empower people  to make informed decisions about the food they eat.

FoodLogiQ CEO Dean Wiltse will also announce the investment today at the CED Tech Venture Conference in Raleigh, North Carolina, where he will take the main stage to present live to over 800 attendees including entrepreneurs, investors, corporate leaders, and industry visionaries from across the nation.

This latest announcement is just another step in a long string of accelerated growth moves for the fast-growing food technology company. In the last six months alone, FoodLogiQ has expanded its customer base to include CKE Restaurants, Five Guys Burgers and Fries, the Hain Celestial Group, Panda Restaurant Group among others. This impressive new customer list is bolstered by established customer relationships with Buffalo Wild Wings, Bareburger, CAVA, Chipotle Mexican Grill, IPC/SUBWAY, Tropical Smoothie Cafe, Whole Foods Market, and many more. FoodLogiQ was also recently recognized by Forbes Magazine as being one of the top 25 most innovative AgTech startups.

“We could not be more pleased to help accelerate the growth of the industry leader in food supply chain traceability, visibility and transparency,” says Renewal Funds CEO, Paul Richardson. “The platform that FoodLogiQ has built is completely changing the food industry, and Renewal Funds is thrilled to help fuel that change.”

“Renewal's focus on food and tech companies at the forefront of social and environmental change aligns perfectly with FoodLogiQ's mission,” says Wiltse.

FoodLogiQ’s funding to date has been provided by the Clarkston-Potomac Group.

News and information presented in this release has not been corroborated by QSR, Food News Media, or Journalistic, Inc.