California-based SafeTraces makes edible, spray-on tags to track individual food products across the supply chain to let buyers know where food is sourced, processed and sold.
The DNA-based tags were developed at the Lawrence Livermore National Laboratory. SafeTraces sells them for $2 a ton — 50 times cheaper than its closest competitor, AgFunderNews reports.
The Series A round, led by Omidyar Network, was also backed by S2G Ventures, Maumee Ventures, UL Ventures, City Light Capital, and Tuscan Management.
Omidyar has invested in other food tech startups including Propel, Twiga Foods, and Harvesting Inc.