Mondra secures £3.6m in a seed funding round
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Mondra, the AI-driven environmental insights platform, has raised £3.6m in a seed funding round with 7 Generation Ventures, GC Foodtech Ventures, Foodsparks by Peakbridge, Ponderosa Ventures, and Vala Capital and us at AlbionVC.
The platform aids organizations in the food supply chain to track, share, and manage environmental data, enabling measurement and management of Scope 3 emissions. The investment will accelerate its expansion beyond the UK, enhance retailer insight tools, and establish industry standards through the BRC Mondra Coalition, with participating businesses including retailers Tesco, M&S, Co-op, Ocado Retail, ASDA, Lidl and Sainsbury’s, major brands including Starbucks and Nando’s and suppliers Avara, Samworth Brothers, Greencore, Pilgrims UK, Dunbia, Cranswick and Bakkavor.
Jason Barrett, founder, Mondra comments: “We’ve developed a technology platform to tackle one of the biggest environmental issues in the food supply chain, GHG emissions, of which food is estimated at around 30% globally. If the industry is going to achieve its net zero targets, they need to be able to consistently measure, reduce and report with accuracy their scope three emissions and decarbonise their supply chains. Following three years of R&D, we formally launched the platform in 2023. It’s been a great start to our journey but there’s so much to achieve and this investment will super charge our UK growth and support our entry into Europe.”
“Mondra is building the market standard in scope 3 emissions and Lifetime Cycle Assessment for the food supply chain. Their digital hyper-modelling approach allows companies to accurately understand their supply chain impacts instead of relying on high level assumptions, enabling actionable insights to drive real change both environmentally and to the bottom line. Led by an experienced team and with the majority of leaging UK grocery retailers already signed up, the opportunity to expand both horizontally and geographically and to build a generational company that supports transition to a more sustainable economy is extremely exciting.”
Adam Chirkowski, Investment Director AlbionVC
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