Speedy compliance: FoodDocs receives £1.8m funding for AI development
FoodDocs, a food safety compliance software, has received £1.8m to develop its artificial intelligence systems. FoodDocs compiles documents for food safety to send to local authorities using AI and an integrated hazard analysis and critical control point (HACCP) technology. In an age of increasing regulations and compliance requirements for food and beverage manufacturers and retailers, FoodDocs provides a solution that saves time and money.
The funding comes from Bonnier Ventures, with Forward Venture Capital, Spring Capital and United Angels VC also being used for the company’s US and UK growth and AI development.
Co-founder and chief executive of FoodDocs, Katrin Liivat, said: “The food industry is hungry for change because of the pandemic. Compliance processes need to become more efficient and company-friendly - that’s where we change the game. Leveraging AI, FoodDocs makes getting compliant 500x faster than the traditional method allows food businesses to save 20% of their time on staying compliant.”
So far, 15,000 firm companies have benefitted from FoodDocs’ software. With the development of its AI, and confident investors, the technology is expected to reach many more in the coming years.
Investment director at Bonnier Ventures, Victor Bodin, said: “We have been impressed by Katrin and Karin’s deep understanding of the large and complex food safety market. The positive impact that FoodDocs delivers for food safety and food businesses, by empowering them to operate more efficiently, is remarkable. We think FoodDocs have all the pieces to win and become a leader in this important category.”