PRESS RELEASE:
Renewal Funds to fuel rapid growth of leading food traceability and transparency tech company
DURHAM, N.C.–(BUSINESS WIRE)–September 20, 2017–
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, NC 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,” said 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,” said Wiltse.
FoodLogiQ’s funding to date has been provided by the Clarkston-Potomac Group. Additional investor inquiries can be made to FoodLogiQ CFO Faith Kosobucki at faith@foodlogiq.com or 919-484-4461.
MEDIA NOTE: Dean Wiltse will present today at the CED Tech Venture Conference 2017 at 11:20am ET on September 20, 2017 in Raleigh, NC at the Raleigh Convention Center and will be available for media interviews. To coordinate, please contact Katy Jones at 919-883-7848.
About FoodLogiQ
FoodLogiQ® LLC is a leading SaaS provider of food safety compliance, traceability, and supply chain transparency solutions. We help restaurant operators, food retailers and other food companies achieve end-to-end traceability while supporting safe and high quality food products across the supply chain. FoodLogiQ Connect is an online supplier community used by food companies to manage quality, safety, audit, regulatory compliance and traceability needs across their supply chains. To meet mounting regulatory requirements and consumer demands for transparency, food companies are leveraging FoodLogiQ Connect to validate supplier compliance with food safety and act with confidence in the event of a food safety or quality issue. To request a demo, please visit http://www.FoodLogiQ.com/demo
About Renewal Funds
Renewal Funds is a mission-based venture capital firm investing in early growth stage companies in Canada and the United States. Founded by Paul Richardson, Joel Solomon and Carol Newell in 2008, and led by Paul Richardson, Renewal Funds is a Certified B Corporation®, dedicated to supporting entrepreneurs through capital, networks and expertise. They have worked with companies such as Seventh Generation, Sweet Earth Foods, Goddess Garden, and Farmhouse Culture delivering above market returns for their partners, while catalyzing positive social and environmental change. For more information, please visit www.renewalfunds.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170920005625/en/
FoodLogiQ
Katy Jones, CMO, 919-883-7848
kjones@foodlogiq.com