Agricultural blockchain technology company GrainChain has completed a $29 million financing
ChainCatcher news, according to Ledgerinsights, Texas-based GrainChain has announced a $29 million funding round. This includes $10 million from Overstock, which provided Series A and B funding for GrainChain through Medici Ventures. The Medici fund is now managed by Pelion Venture Partners on behalf of Overstock, which has committed to reinvest an additional $10 million from its own funds. Cougar Capital from Brigham Young University is one of the other funding participants. To date, GrainChain's total funding has approached $40 million.Among the tens of thousands of users of GrainChain, many are small farmers in the U.S. or Latin America. The GrainChain system automatically collects data through the Internet of Things and a mobile application that can work offline. GrainChain provides a suite of solutions for farmers and buyers, most of which are based on blockchain and smart contracts. This includes tracking data from seed to harvest, inventory management, logistics, and transaction management. (Source link)
