February 27, 2018

FoodLogiQ, whose technology enables supplier management, food safety compliance, quality incident management, recall management and whole chain traceability – all on a single platform, has raised an $8 million third round of funding from German measuring technology firm Testo.

FoodLogiQ provides end-to-end traceability for food companies, using a Software-as-a-Service (SaaS) model that allows companies to track ingredients and fresh food from grower to distribution center to retail or the plate. Its customers include well-known brands such as Five Guys Burgers and Fries, Buffalo Wild Wings, Bareburger, CAVA, Chipotle Mexican Grill, IPC/SUBWAY, Tropical Smoothie Cafe, and Whole Foods Market.

In referring to the food retail and restaurant chains who are the company’s target customer, CEO Dan Wiltse told Food Logistics online “The brands want to make sure their consumers get the information they need, as well as make their supply chain as safe as possible. We want to take advantage of that and grow faster.”

In a press release FoodLogiQ CEO Dean Wiltse touted the benefits of transparency in the food chain. “Imagine a day when you could be notified electronically when a food product goes out of temperature range anywhere in your supply chain or connect bluetooth data loggers directly into a traceability platform. That day is today, we are thrilled to be partnering with Testo, a global giant in automated quality management, and look forward to enabling our customers to take full advantage of this partnership.”

Bill Pezza, President of Testo North America added “It is a truly remarkable time to be at the cross-section of food safety and technology, Testo, together with FoodLogiQ, is innovating the food industry and working to create a safer, more efficient food supply chain around the world. This joint partnership will completely change the way food companies manage their quality and food safety programs.”

Follow-up to Series B Funding from 2017

The company raised a $4.25 million second round in September 2017. That round was led by Renewal Funds, a “mission” venture capital firm that invests in early growth stage companies in Canada and the United States that promote positive social and environmental change. The firm’s portfolio includes startups in sustainable foods, organics, and conservation and environmental technology.

This latest round’s investor, Testo, designs, develops, and manufactures portable test and measurement instrumentation for the chemical, food service and production, and pharmaceutical and biotechnology markets. Privately owned, Testo has 33 subsidiaries.

By Dave Nitchman, GAI Media