Dairy supply chain software provider, Milk Moovement, has closed a $3.2 million funding round.
Headquartered in Halifax, Canada, Milk Moovement has developed cloud-based software that tracks milk shipments from producers to processing plants and delivers real-time quality and quantity information to stakeholders across the supply chain.
Using its software, dairy cooperatives and processors can reduce administrative time by up to 85%, according to Milk Moovement.
The round was led by Dynamo Ventures, with participation from Matchstick Ventures, Bread & Butter Ventures and Better Food Ventures, as well as follow-on investments from SOSV and Techstars.
The company has also received investment from Richard Cargill, a member of Cargill’s board of directors.
Milk Moovement will invest the new capital in product development, software enhancements and its international expansion efforts.
The company has announced that it will be opening a new office in Minneapolis, Minnesota, to further grow its US presence.
“We’re excited to bring our solution to even more members of the global dairy industry,” said Milk Moovement CEO and co-founder, Robert Forsythe.
He continued: “We have experienced tremendous momentum in our core software offering as clients see the benefits of digitising and optimising their dairy supply chains. At Milk Moovement, we are committed to helping the industry thrive by modernising the antiquated dairy supply chain to make it more efficient, sustainable and profitable for everyone.”
Richard Cargill added: “The delivery of high-quality, more nutritious and even more efficient products is imperative for success in 21st century agriculture.
“Milk Moovement is the dairy supply chain tool that will be at the forefront of the industry’s success. What separates this team from competitors is their empathy for the challenges faced by the industry and their relentless drive to create value for customers. It has been a privilege to mentor this team and I look forward to supporting them as they grow.”
© FoodBev Media Ltd 2020
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