The funding – led by Bonnier Ventures, with Forward Venture Capital, Spring Capital and existing investor United Angels VC – will be used to drive growth in the UK and US and further improve AI capabilities.
FoodDocs provides an AI-powered food safety system with an integrated hazard analysis and critical control point (HACCP) plan builder. The AI compiles the food safety documents you need to submit to your local authority to build a plan in ‘less than an hour’, without the need for a food safety consultant.
Katrin Liivat, co-founder and chief executive of FoodDocs, 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 and allows food businesses to save 20% of their time on staying compliant.”
The software has been used by more than 15,000 food businesses to develop HACCP plans.
Commenting on the investment, Bonnier Ventures investment director 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 needed to win and become a leader in this important category.”
A number of food and drink firms have managed to secure seven-figure investments since the start of this year.
Last month saw actor Tom Felton of Harry Potter fame lead investment into plant-based food business Jack & Bry. The end of the January also saw drinks firm Dash has complete a £7m funding round as it announced the appointment of current St Pierre Group chief executive David Milner as its new chairman.
Meanwhile, direct-to-consumer infant and toddler nutrition firm Mamamade has secured £1.5m of investment through crowdfunding platform Seedrs, more than 300% of its initial investment target.