Today Texas-based GrainChain announced a $29 million funding round. This includes $10 million from Overstock, which provided GrainChain’s Series A and B funding through Medici Ventures. The Medici fund is now managed on behalf of Overstock by Pelion Venture Partners, which committed another $10m from its own funds. Brigham Young University’s Cougar Capital was one of the other funding participants.
GrainChain provides a suite of solutions to farmers and buyers, most of which are based on blockchain and smart contracts. That includes tracking data from seed to harvest, inventory management, logistics and transaction management.
“2022 was a breakout year for GrainChain in many ways,” said GrainChain CEO and Co-Founder Luis Macias. “We saw explosive growth as our transaction platform, Trumodity, became fully integrated with banking systems in Latin America and when we launched liquidity programs with coffee producers in Mexico and Central America.”
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