Amsterdam-based agtech startup Meridia has raised €5.2 million in Series A funding from Intercontinental Exchange (ICE), Regeneration.VC, Edaphon, Cerigo Investments, Cerulean Ventures, and Sabi Fund.
- Launched in 2015 by Simon Ulvund and Thomas Vaassen, Meridia is an agtech startup that focuses on managing field data in extensive supply networks for agricultural commodities, which mainly rely on smallholder farmers.
- The startup develops a SaaS portal and API called Meridia Verify that provides real-time verification of supply chain field data in accordance with country of production laws and industry standards. This solution is available in 35 countries, assisting businesses in industries like cocoa, coffee, palm oil, rubber, and soy to maintain transparency and meet regulatory requirements efficiently.
- As of now, Meridia is used by leading corporations including Hershey, Cargill, Ecom, LDC, and Mondelez International.
Details of the deal
The round was backed by various venture capital firms, including:
- Atlanta-based Intercontinental Exchange, a company that operates financial exchanges and clearing houses.
- Regeneration.VC is a Los-Angeles venture capital firm that invests in climatetech startups focusing on three innovation themes, including design, use, and reuse.
- Brussels-based Edaphon, a venture capital firm with a mission to fund startups focused on projects addressing global warming and nature-related challenges.
- Cerulean Ventures, a pre-seed and seed-stage VC backing software and asset-light startups that assist in lowering carbon emissions, particularly in the energy and nature markets. Sabi Fund and venture capital firm Cerigo Investments also participated in the investment.
“Cerulean Ventures is thrilled to partner with the team at Meridia to achieve the next phase of growth for the business and its real-time agri-commodity data verification solution. Having executed dozens of investments in nature tech companies for many years, we've seen an accelerating trend towards sustainable supply chains that align production and consumption with measures to protect biodiversity and halt deforestation,” Managing General Partner of Cerulean Ventures, Matthew Stotts, commented.
The fresh investment will allow Meridia to further develop Verify, support the expansion of its technology infrastructure, enhance data analytics capabilities, and broaden the startup market reach.
