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Mondra secures £3.6m pre-Series A funding to drive supply chain sustainability
FoodBev Media

FoodBev Media

4 March 2024

Mondra secures £3.6m pre-Series A funding to drive supply chain sustainability

Mondra, an AI-driven SaaS platform focused on food supply chain decarbonisation, has closed a £3.6 million pre-Series A funding round. The investment was led by backers including 7 Generation Ventures, AlbionVC, GC Foodtech Ventures, Foodsparks by Peakbridge, Ponderosa Ventures and Vala Capital. Spearheaded by founder Jason Barrett, Mondra's platform serves as a digital infrastructure aimed at supporting the transition of the UK grocery market towards net zero emissions. With 85% of the UK grocery market already onboard, Mondra is positioned to play a key role in enhancing environmental performance and reducing Scope 3 emissions within the food and beverage industry. The funds will primarily be used to accelerate Mondra's deployment across UK grocers, with plans for expansion beyond the UK market and into other retail and consumer packaged goods segments. Additionally, the investment will enable the development of new tools for retailer insights, agricultural data enhancement and carbon insetting. Mondra's platform helps companies across the supply chain to record, share and monitor environmental data using standardised tools, enabling the measurement and management of Scope 3 emissions. By conducting rapid Lifetime Cycle Assessments on thousands of products, Mondra enables brands and retailers to prioritise sustainability actions and engage suppliers, fostering a commercially viable pathway towards a net-zero food system. Mondra recently established the BRC Mondra Coalition, bringing together stakeholders from industry, government and NGOs to create a unified standard for measuring product-level environmental performance. Participating businesses include retailers such as Tesco, M&S, Co-op, Ocado Retail, ASDA, Lidl and Sainsbury’s, along with other brands and suppliers. Barrett said: “We’ve developed a technology platform to tackle one of the biggest environmental issues in the food supply chain, GHG emissions, of which food is estimated at around 30% globally. If the industry is going to achieve its net zero targets, they need to be able to consistently measure, reduce and report with accuracy their scope three emissions and decarbonise their supply chains.” He continued: “Following three years of R&D, we formally launched the platform in 2023. It's been a great start to our journey but there’s so much to achieve and this investment will supercharge our UK growth and support our entry into Europe.” Investors also expressed confidence in Mondra's ability to drive tangible impact and commercial outcomes. Chloe Payne from Ponderosa commented: “We believe that Mondra's footprinting solution can not only assist companies in meeting their Scope 3 emissions reductions targets but can also support product development teams in improving products to meet the demands of end-consumers. In this way, we expect Mondra to help customers drive both impact and commercial outcomes.”

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