Software company Milk Moovement has secured $20 million in a Series A funding round, as it looks to accelerate adoption of its technology among dairy businesses in North America.
The round was led by venture capital firm VMG Catalyst and seed investor and agriculture industry expert, Richard Cargill.
Milk Moovement’s technology platform creates full supply chain visibility for dairy farmers and distribution partners to track and route shipments in real-time, optimise delivery schedules and in turn significantly decrease food waste and profit loss.
The company has a network of 2,500 dairy farms and over 5,000 users, including dairy businesses United Dairymen of Arizona and California Dairies Inc.
Robert Forsythe, CEO and co-founder of Milk Moovement, said: “We constantly seek out the best and brightest talent to join us as we build market-leading products and partner with dairy industry leaders. This latest round of funding is a major win for our employees and investors, but most importantly it allows us to support our incredible partners in getting the right milk to the right place at the right time.”
Milk Moovement currently employs 50 people across Canada and the US.
This latest investment round follows the company’s closure of a $3.2 million funding round last year.
© FoodBev Media Ltd 2022
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