Provenance, a U.K.-based startup, uses blockchain software to combat “food fraud” and track food supply chains.
Products logged on Provenance’s platform are tracked from source to retail outlet with secure “digital passports” that provide information about the people, places, and materials behind that product.
The company is tracking tuna supply chains in Asia and produce supply chains with U.K. supermarket Co-Operative Group and has 200 brands signed onto its platform. It is hoping to enroll 1,000 food and beverage business by 2025. Provenance raised $800,000, led by Humanity United, which is backed by Pam and Pierre Omidyar.
Blockchain investor Digital Currency Group and several angel investors also invested.
Around the world, nearly $500 million worldwide is being invested in blockchain solutions to track everything from development aid to election validation.
