ADM, Cargill & ofi-backed supply chain intelligence platform secures Series A funding

Traceability and sustainability data solutions provider Tract has announced a €18.6 million (US$21.6 million) Series A funding to expand its supply chain intelligence platform for the global agri-food industry, bridging supplier data and procurement processes.

The EU-backed platform helps agri-food businesses build “smarter and more resilient” supply chains, as climate change challenges impact manufacturers’ management of supply chain data and relationships.

Tract helps large CPG and commodity-trading companies map supply chains, monitor sourcing risk, manage sustainability data, and meet regulatory requirements, such as the EU Deforestation Regulation. 

Cocoa, coffee, corn, and cotton manufacturers can use the tool to connect supplier data at the source with the insights needed to manage risk and invest in resilience.

Tract’s founding partners include major agri-food companies such as ADM, Cargill, Louis Dreyfus Company, and Olam Food Ingredients (ofi).

Kai-Uwe Ostheim, VP of Sustainability Portfolio at ADM, tells Food Ingredients First that rather than building separate solutions, the companies saw “real value in coming together to create Tract” as a shared platform built for the industry. 

“Our goal is to take a proactive approach to transparency, making access to ESG metrics and supply chain traceability simpler, more consistent, and more actionable. It helps unlock efficiencies that benefit the entire value chain.”

Advancing climate mitigation action

Tract CEO Allison Kopf describes resilient supply chains as the “foundation of a more equitable and sustainable food system.”

“Sourcing leaders are under pressure to manage more risk, data, and complexity than ever before. This funding accelerates our next phase of growth as we scale the platform and support the companies shaping the future of responsible sourcing.”

EU-backed Tract helps agri-food businesses build smarter, more resilient supply chains amid rising regulatory and climate pressures.Meanwhile, supply chain traceability is essential in preventing deforestation and making emissions “transparent,” says Nityen Lal, founding partner at Icos Capital, which led the funding. 

“Through our Collaborative Venturing Platform with leading agri-food and chemical corporates, we back innovations like Tract that turn complex supply chain data into real climate action.”

Supply chain intelligence for agriculture

Tract says it represents a new category of data infrastructure: supply chain intelligence, purpose-built for agriculture.

“We are excited to see how Tract has been developing and, with the support of our new shareholders, will continue to deliver tangible results toward its enterprise customers for a more sustainable and transparent supply chain,” notes Floris Onvlee, director of Corporate Venturing at Rabo Investments, another investment participant.

An ofi spokesperson highlights the company initiated the process that resulted in the formation of Tract to “unite the food and agriculture industry,” recognizing that tackling complex supply chain challenges demands a collaborative approach.

“We saw the need to drive efficiency in measuring sustainability performance as many companies were setting up their own systems and platforms. This could lead to incompatibility and inefficiency as data is not compatible, comparable, or aggregable,” they tell Food Ingredients First.

“Tract solves this by providing industry-aligned metrics for traceability and transparency and a streamlined reporting process to reduce time and cost inefficiencies.”

Along with its founding partners, ofi realized that this would allow the ingredients firm to direct more resources toward creating large-scale impact for people and the planet. 

“Our vision of Tract becoming a widely supported, co-owned industry initiative has now been delivered with the recent Series A investment,” the spokesperson adds.

While ofi remains a supportive founding shareholder, the spokesperson emphasizes that Tract is an “independent entity” that can set its own growth trajectory when scaling the supply chain intelligence platform.