World Economic Forum Releases Report on Traceability, Cites FoodLogiQ as a Promising Technology Solution
Report explores transformative technologies and how they can increase supply chain visibility
FoodLogiQ, the leading SaaS provider of traceability, food safety and supply chain transparency solutions, was included in a report released this week at the World Economic Forum in Davos, Switzerland that explores transformative technologies - such as internet of things (IOT), distributed ledger technology, food sensing technologies and others - and how they can increase visibility into the production and delivery of the world’s food.
“This report aims to assist in the transition from traceability pilots to successfully scaled initiatives by laying the groundwork necessary for the effective and inclusive scaling of emerging traceability technologies for positive food-system impact,” the authors state. “Traceability requires action from the full supply chain and, as a result, collaboration is at the crux of what will make traceability effective.”
The 2019 report recognizes FoodLogiQ as a traceability technology that is advancing the transparency agenda and acknowledges the $19.5 million in funding received from investors Tyson Foods, Testo, Renewal Funds, Pontifax AgTech, Greenhouse Capital Partners and Nicola Wealth Management.
“Due to the highly complex nature of global supply chains, the call for end-to-end food traceability is one that has been heard around the world,” says Katy Jones, FoodLogiQ Chief Marketing and Strategy Officer. “Lack of traceability has a negative trickle-down effect on the world’s food system, and despite the important role food plays for humanity, too many questions have been left unanswered: where did it come from? Who produced it? How was it made? What were the environmental and social costs of producing it? Our solution - FoodLogiQ Connect - is a food-focused technology that can help provide those answers. We’re very pleased that FoodLogiQ has been recognized by the World Economic Forum for our innovation.”
The fast-growing food technology company is already dominating the foodservice industry, boasting a customer base that includes Buffalo Wild Wings, CAVA, CKE Restaurants, Compass Group USA, Five Guys Burgers and Fries, IPC/SUBWAY, Panda Restaurant Group, Raising Cane’s, Sweetgreen and Tropical Smoothie Cafe. FoodLogiQ’s reach extends across the entire supply chain to include food manufacturers such as Tyson Foods, Hain-Celestial and Smithfield Foods, food retailers including Whole Foods Market, as well as hundreds of growers, co-packers and produce marketers. FoodLogiQ was also recognized the last two years in a row by Forbes Magazine as being one of the top 25 most innovative AgTech startups.