• Sydney-based AI supply chain platform Lumachain has secured a minority investment from Chipotle Mexican Grill’s US$100m Cultivate Next venture fund
  • The investment will allow Lumachain to set out on its next phase of growth
  • Lumachain already counts among its clients the world’s largest meat processor JBS

 

Special Report: Sydney-based AI startup Lumachain has staked its position as a global leader in food-supply-chain tech with a minority investment from US fast food giant Chipotle Mexican Grill.

The strategic partnership, secured via Chipotle’s US$100 million Cultivate Next venture fund, will accelerate Lumachain’s goal to revolutionise transparency, safety and sustainability in the food industry.

With clients including the world’s largest meat processor JBS, Lumachain was founded by Jamila Gordon, a former Qantas Chief Information Officer who has also held executive roles at IBM and CIMIC.

Catering to growing concerns about supply chains and sustainability worldwide, Lumachain uses cutting-edge computer vision artificial intelligence to trace the location and condition of individual items, from farm to fork, in real time.

It also gives the food industry information it needs to meet the demands of consumers wanting to know more about what they eat and where it comes from.

 

Dinner to diners

Lumachain started on the back of a dinner conversation about the meat industry’s challenge of tracing produce back to its farm of origin.

With the smarts, hard work and determination that’s taken Gordon from a small village in Somalia to C suites of major corporations, she set out to solve the problem.

After Gordon bootstrapped Lumachain for 15 months, the company received funding from the CSIRO’s venture capital fund, Main Sequence, which targets tech companies with potential for global significance.

In 2022 Lumachain completed its US$19.5m Series A funding round, led by California-based Bessemer Venture Partners, with further participation from Main Sequence.

This enabled Lumachain to accelerate the roll-out of its world-first computer vision-based AI platform at meat and food processing plants globally, including across the US.

This latest major investment will allow Lumachain to set out on its next phase of growth.

“We are thrilled to partner with Chipotle, a company known globally for its commitment to high-quality, ethical and sustainable food production,” Gordon said.

“This investment will enable us to expand the reach of our platform, helping more producers and suppliers deliver safer, higher-quality products with complete transparency, benefitting both businesses and consumers.”

Chipotle’s Chief Customer and Technology Officer, Curt Garner, highlighted the value of Lumachain’s platform:

“The visibility in real-time and quality data analytics that Lumachain’s software provides could optimise the management and quality of perishable goods for the food service industry.”

 

Beef giant early adopter

JBS was an early adopter of Lumachain’s technology, using it to enhance its Farm Assurance Great Southern Beef program. The AI platform allows JBS to provide new levels of supply-chain transparency, allowing customers to trace the premium beef right back to its farm of origin.

JBS Southern’s Rob Ryan said: “Lumachain has provided a platform for JBS to add a new level of traceability with integrity to our Great Southern Beef program.

“We can now provide our customers with complete transparency across the supply chain, and customers have been quick to realise the value of this innovation.

“Additionally, Lumachain’s platform has enabled live inventory management and product condition tracking on a global scale, delivering benefits far beyond traceability alone.”

Sean Starling, Head of Innovation and Industrial Engineering at JBS Southern, added that through its collaborative relationship with Lumachain, JBS had streamlined its approach to leveraging AI and data analysis, resulting in benefits for customers along the entire supply chain.

“I look forward to the outcome of the 10 or more other joint initiatives we have underway with Lumachain,” Starling said.

 

This article was developed in collaboration with Lumachain, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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