Castine, Maine, U.S.A.-based BlueTrace, a traceability solution for shellfish harvesters, growers, distributors, and dealers, has netted USD 3.2 million (EUR 2.9 million) in seed funding.
According to the company, that brings its fundraising total to USD 4.1 million (EUR 3.8 million). The latest funding round was led by York IE, Maine Venture Fund, and Coastal Enterprise Ventures, with participation from various angel investors.
BlueTrace initially launched as OysterTracker, a piece of software BlueTrace CEO Chip Terry launched in 2018 and announced significant growth in early February. Now, the company said it has begun to expand its digital platform “to support the broader seafood landscape.”
“Sustainable seafood is great for our communities, our planet, and our health,” Terry said in a release. “Our mission is to keep the seafood supply chain safe, efficient, and compliant by digitizing key transactions to make seamless traceability possible. We have a long list of desired features from our clients – this new funding will help us deliver them.”
York IE Co-Founder and Managing Partner Joe Raczka is also joining BlueTrace’s board of directors, the company announced.
“BlueTrace is bringing a unique digital solution to a traditionally non-digital, tech-laggard industry,” Raczka said. “Chip and the rest of the talented team have proven their product market fit and will continue improving the seafood landscape.”
The company’s cloud-based traceability solutions can be used to log and tag products from a smartphone, BlueTrace said.
“The system empowers frontline employees to easily track and trace shipments,” the company said.
Samuels Seafood Vice President of New Product Development Joe Lasprogata called the software a “game-changer” for the company.
“Our company moves millions of pounds of seafood each year, which obviously means a lot of moving parts,” Lasprogata said. “BlueTrace’s platform helps us organize our shipments and give us confidence that we’re staying compliant.”
Photo courtesy of BlueTrace
