The Grainchain team was established by the founders of SiloSys, an IT solution for the agricultural industry. For the last 5 years, we have been automating the system of measuring the commodities coming into silos and storage facilities, providing accurate measurement, tracking, and accountability for soft commodities. IT systems such as SiloSys are increasing in popularity worldwide, because they eliminate the manual processes of weighing and providing documentation for agricultural yield. Automated systems eliminate the potential of cheating with the weights, and a number of other dishonest schemes that were distorting commodities prices in the past. They also provide immediate paperwork that is trackable in the software systems, rather than paper notes.
As we expanded the automation of the network, we recognized that, while we can eliminate cheating on the physical end of the goods through our IT software and sensor hardware, many of the issues faced by the weakest members of the chain are built into the financial systems surrounding the agricultural industry. With the rise of blockchain technology and smartcontracts, we recognized that there is an opportunity to provide a myriad of services that will help the growers, governments, and agents who are often in the most compromised positions vis-à-vis commodities brokers and bank agents.
Location: United States, Pharr
Employees: 51-200
Phone: 956-322-4511
Total raised: $37.2M
Founded date: 2013
Investors 2
Date | Name | Website |
03.11.2023 | Pelion Ven... | pelionvp.c... |
30.07.2021 | SAP.iO Fou... | sap.io |
Funding Rounds 2
Date | Series | Amount | Investors |
21.02.2023 | - | $29M | Pelion Ven... |
09.03.2020 | - | $8.2M | Medici Ven... |
Mentions in press and media 15
Date | Title | Description | Source |
18.02.2023 | GrainChain Raises $29M in Funding | GrainChain, a McAllen, TX-based company blockchain powered agricultural supply chain tracking platfo... | finsmes.co... |
17.02.2023 | GrainChain raises $29M to expand agricultural blockchain Sh... | Texas-based GrainChain, a company building an agricultural blockchain for supply chain tracking, sai... | siliconang... |
16.02.2023 | The Week in AgriFoodTech: GrainChain raises $29m, Brigad bag... | This week, US-based GrainChain announced a $29 million raise for its ag supply chain platform, and h... | agfunderne... |
14.04.2021 | SAP : iO Foundry Paris Accelerates Agribusiness Startups in ... | PARIS - SAP SE (NYSE: SAP) launched an agribusiness-focused virtual startup accelerator program at S... | marketscre... |
12.02.2021 | World Coffee Alliance (WCA) announces confirmed speakers at ... | LONDON, United Kingdom - World Coffee Alliance (WCA), a network alliance of coffee industry professi... | realwire.c... |
27.10.2020 | Kaffe Bueno brews up $1.3m funding to upcycle coffee grounds... | Kaffe Bueno, a Danish startup that ‘upcycles’ used coffee grounds, has raised €1.1 million ($1.3 mil... | agfunderne... |
22.10.2020 | Grain monitoring startup TeleSense closes $10.2m Series B to... | US grain storage startup TeleSense has closed a $10.2 million Series B round led by existing investo... | agfunderne... |
10.03.2020 | Daily funding roundup - March 10th, 2020 | Sounder raised $1.8M; QRails landed $8M; Recount Media secured $13M; DeepCrawl picks up $19M [Edito... | vator.tv/n... |
09.03.2020 | GrainChain Raises $8.2M in Funding | GrainChain, a Texas-based provider of an agricultural blockchain platform, raised $8.2m in funding. ... | finsmes.co... |
06.03.2020 | Overstock's VC Wing Leads $8.2M Funding Round in GrainChain | GrainChain, a commodities tracing platform that uses smart contracts to open up liquidity for low-in... | coindesk.c... |
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