LeadBlock Partners invests in the start-up foodtech Connecting Food

Credit: Connecting Food

The venture capital fund LeadBlock Partners made his first investment in Connecting Food. The start-up FOODTECH restores consumer confidence in the food industry by not only monitoring, but above all digital auditing of products in real time using technology blockchain.

This round table 2.1 million euros comprises LeadBlock Partners and the reinvestment of business angels who accompanied the founders from the creation of Connecting Food. LeadBlock Partners was advised by Gide Loyrette Nouel for this transaction.

This first round of institutional financing marks an important step for the start-up allowing it to accelerate its technological and commercial development and will allow it to assert itself as a leader in the essential market of food transparency.

We are pleased to support Maxine Roper and Stefano Volpi as investors today and partners for years to come. We strongly believe in Connecting Food's mission to build transparency and consumer confidence in the food industry, "said Jean-Marc Puel, Senior Partner at LeadBlock Partners.

Connecting Food is the first investment of the venture capital fund LeadBlock Partners. The fund specializes in the "blockchain business" sector in Europe. It was founded in 2019 by a team of three professionals combining investor experience and sectoral expertise, including two alumni from Goldman Sachs. The objective is to invest in B2B start-ups who use technology blockchain or DLT to solve operational problems and create new markets.

Connecting Food offers a digital platform based on technology blockchain, capable of tracing products batch by batch, as they pass through the production lines, and auditing them in real time. The real revolution is the module "LiveAudit”Which allows the quality of products to be audited digitally in real time for the entire production. It allows producers, brands and large retailers to prove to their customers that each product really respects the commitments, characteristics and practices appearing on the label.

Recently, Connecting Food announced contracts with industry leaders including Mondelēz, Herta (Nestlé) and Axereal. Their customers also include Coop Italia, Ingredia, Delmond foie gras and duck, Terre du Sud, Les Fermes Larrère, Bionade, InVivo… They are exhibitors at the Paris International Agricultural Show, presenting more than 10 customers currently being followed and audited by their blockchain platform.

Credit: Connecting Food

On the world stage, Connecting Food ranked first in the "Food Safety and Traceability" category of Foodtech 500 and was the first blockchain start-up in the general ranking (January 2020).

Connecting Food was created in 2016 by Maxine Roper and Stefano Volpi, after having both spent more than 20 years in the agrifood sector. In their respective roles, they were faced with a number of challenges concerning upstream traceability and quality audit. How can we make sure that the promises on the label are actually kept on a daily basis? They decided to solve this challenge using new technologies, including blockchain.

This article is a press release shared with Cryptonaute and published for informational purposes, it was not written by our team.