Food chain monitoring technology developer TeleSense has secured University of California-backed Congruent Ventures as an investor.
US-based food chain monitoring technology developer TeleSense obtained $6.5m on Tuesday in a series A round featuring Congruent Ventures, a VC fund backed by University of California’s office of the chief investment officer.
Food and agriculture technology-focused VC fund Finistere Ventures led the round, which also featured Maersk Growth, the corporate venturing arm of logistics and shipping container conglomerate AP Moller-Maersk.
Financial services firm Rabobank also took part through its Food & Agri Innovation Fund, as did accelerator fund Radicle Growth, family office Trailhead Capital and Plug and Play Ventures, a subsidiary of entrepreneurship forum Plug and Play Tech Center.
Founded in 2013, TeleSense has developed internet-of-things technology for grain storage called GrainSafe that utilises sensors and artificial intelligence to monitor the grain’s temperature and humidity.
GrainSafe is intended to help grain suppliers track the degradation of stored produce, helping them reduce overheads by improving operational efficiency and the chances…
