ProducePay, which has a mission to eliminate economic and food waste, announced that it has received an investment of 38 million dollars. The series D investment round was led by Syngenta Group Ventures, the venture capital arm of Syngenta Group.
ProducePay Raises $38 Million in Series D Financing
Our growth and global scalability has attracted a best-in-class group of investors who valued the company at a significant increase over our last financing. At the same time, we are reducing the huge amount of economic and food waste that affects every touchpoint around the world.Patrick McCullough, CEO of ProducePay
ProducePay, an agricultural technology company known for its transformational work to strengthen the fresh produce supply chain, has received $38 million in investment. The Series D investment round was led by Syngenta Group Ventures, the venture capital arm of Syngenta Group. Syngenta Group is recognised as one of the world’s largest agricultural technology companies, delivering science-based innovations to help farmers around the world achieve food security and combat climate change. Other participants in the round included G2 Venture Partners, Anterra Capital, Astanor Ventures, Endeavour8, Avenue Venture Opportunities, Avenue Sustainable Solutions and Red Bear Angels. In addition to existing investors, this year CF Private Equity took its place as a new investor of the round. ProducePay and its investors aim to extend this success to more partners, more product categories and more regions around the world. The financing will be used to accelerate business growth and expand its sustainability impact worldwide by reducing food waste and supply-demand mismatch.
ProducePay connects growers from around the world with quality retailers and buyers. It provides farmers with greater financial security and makes it possible to reduce food and economic waste. We are excited about the opportunity to work closely for a stronger future in agriculture.David Pierson, Managing Director of Syngenta Group Ventures