In California, TeleSense, an IoT technology innovator providing food safety and grain storage solutions, closed a $6.5 million Series A financing round led by Ag investment pioneer Finistere Ventures.
“Spoilage is an age-old problem plaguing the food and grain industry, and we believe that the time is ripe for the confluence of new technologies to be applied to this problem. TeleSense is the only company we’ve found that has the insight and all the necessary elements to effectively tackle this multi-billion dollar issue,” noted Spencer Maughan, co-founder and partner, Finistere Ventures. “We invest in visionaries helping to create a more sustainable global food supply chain. TeleSense’s data-driven approach will help redefine expectations for how grain is stored, handled and traded in the years to come.”
TeleSense uses innovative portable and fixed wireless sensors to continuously monitoring temperature and humidity, allowing customers to alleviate spoilage, reduce quality degradation and increase profits.