BlueTrace, a Castine, ME-based provider of a traceability solution for seafood harvesters, growers, distributors, processors, and dealers, raised $3.2M in Seed funding.
The round, which brought the fundraising total to $4.1M, was led by York IE, Maine Venture Fund, and Coastal Enterprise Ventures, with participation from various angel investors, including SeaAhead. Joe Raczka, Co-Founder and Managing Partner at York IE, has joined BlueTrace’s board of directors. Raczka will collaborate with existing board members Abigail Carroll, an oyster farmer turned investor and podcaster, and Dave Ford, a tech entrepreneur and angel investor.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO Chip Terry, BlueTrace offers a traceability platform for seafood growers, wholesalers, distributors, and dealers. Seafood organizations of any size can use the company’s cloud-based solutions from their smartphones to create logs (harvest, HACCP, receiving, shipping, cooling, etc.) and tag their products. The system empowers frontline employees to easily track and trace shipments. A regulatory rules engine increases compliance while reducing redundant paperwork. The mobile solutions enable users to reduce redundant data entry and errors, streamline operations, and trace their products from tideline to table.
BlueTrace announced 121% growth in 2022, expanding its customer base from 150 clients to over 350.
FinSMEs
16/02/2023