London-based AI-powered climate tech company BX Technologies aims to decarbonize the food and drink supply chain.
Using BX's technology, retailers and brands can meet their carbon targets for 2030, 2035, and 2040. Through the use of primary farm data and intuitive AI, farmers can gain crop and field-specific decarbonizing insights. To achieve their goals, retailers can build a planet-friendly supply chain.
In a recent announcement, CEO Ben Bardsley announced the closing of a late seed round. A combination of follow-on investments from existing investors, including Counteract and two US investors, led to a total raise of over $1,9 million.
Bardsley states; "I am delighted to announce the success of this key milestone. The strength of our proposition and our position in the climate tech industry has unlocked this capital raise in a very difficult investment market. Our momentum is steadily building with early adopters across the globe recognising their crucial position within this sector."
Matt Isaacs, managing partner of Counteract adds; "The food and agriculture sector has a critical role to play in addressing climate change, however they require technology to enable their transition to climate friendly practices facilitating information about the impact of their actions. We have been impressed with the development of BX, Ben and his team in addressing this problem. There is no doubt that BX has the opportunity to be one of the big actors in this very nascent market"
With 37% of global CO2 emissions coming from food production, BX is revolutionizing this industry. Historically, there has been an emphasis on where food comes from, but now with BX's technology and insights, retailers and consumers can know how food is grown and how it impacts the environment.
Consumers are provided with pertinent information to make conscious decisions when purchasing with end-to-end environmental credentials of the supply chain.
BX is rapidly becoming the 'Experian of Farming' with its 'BX Score'; a single metric to measure the environmental impact that is widely adopted throughout the global supply chain.