Swarm Engineering announced today it has closed funding for a $2.7 million seed round.
Swarm Engineering is a Software-as-a-Service (SaaS) platform specifically for the food supply chain. Swarm is a 'no-code' solution, so end users do not need data science expertise, knowledge of machine learning, or a degree in math to use the software. Business users simply define their problem, and Swarm matches their definition with a curated library of algorithms (which can be added to by customers or 3rd parties) to rapidly deliver a solution via the cloud.
S2G Ventures, a Chicago-based investment firm focused on food and agriculture, led the seed round, which included participation from Serra Ventures via their new AgTech fund, Harvard Business School Alumni, Wells Street Capital, VTC Seed Fund, and Rinvest. Angel investor and former CEO of Bunge, Soren Schroder, also participated in the round. The capital will support continued technological innovation and team growth, to support an expanding list of customers, ranging from growers through to dedicated logistics firms.
SWARM are anticipating continued growth in ag-data, combined with an ongoing scarcity of data scientists, especially those with agricultural expertise. They aim to simplify the use of AI and advanced Machine Learning in the food supply chain, so that organizations can reap the rewards of the huge advances being made, at affordable price points, using existing team members' skills and knowledge.
Anthony Howcroft, CEO and founder of Swarm Engineering said, "I'm excited to have the capital to continue Swarm's exciting journey in solving real-world problems for food supply chain organizations, but I'm even more thrilled to be partnering with investors who are so knowledgeable and committed to this space."
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