Alternative meat products are being developed because of the fact that our current food production is not enough to keep up with the growth of the population in the next three decades.
It's rare for a company to tackle the traditional meat industry at a time when some food industry startups are trying to remove animals from the food chain.
Lumachain wants to be the standard for how beef, chicken and pork products are produced.
A founder and CEO of Lumachain. The image is called Lumachain.
The global industry is worth 1.5 trillion dollars a year and helps feed the world. Each plant is a big business. It can have many employees on a shift. We haven't built a computer tech vision and artificial intelligence that will help transform the industry.
Helping the global meat industry innovate and solve some of the key challenges they face, including employee shortages, the impact of inflation and high operational costs, supply chain disruptions and that meat plants are still operating the same way they did 50 years ago is one of Lumchain's goals.
Hundreds of thousands of pounds of meat could be thrown away because of the supply chain disruptions caused by the Pandemic.
Gordon got her first job as a cook in a Japanese restaurant after the chef took her under his wing and taught her how to cook. Even though she had a degree in computer science and later worked at companies like IBM and Qantas Airways, she still had a passion for food.
Gordon says that the innovation he has seen in the food industry is timid. She thinks that artificial intelligence should help employees be the best they can be. She gave a talk about it.
Lumachain uses computer vision-based artificial intelligence to change meat plant operations. There are five products in the category of safety.
The company installs cameras around the plant to identify potential safety risks and training opportunities for plant supervisors who have 50 employees under them. The supervisor will be able to focus on those who need extra help, rather than having to monitor each employee individually.
Customers knew where their containers were at any given time, and if there was a potential for spoilage, they could divert the products to other endpoints so they wouldn't lose money.
Gordon said, "You want your employees to be the best that they can be and offer real-time coaching and training." Traceability helps our customers track the food from farm to fork and know where their product is at all times.
The approach of Lumachain has caught on with meat producers. Gordon said that it is capturing just under 50% of the meat supply in the U.S.
The company, which is based in Australia and now also Denver, announced $19.5 million in Series A funding to continue to accelerate its artificial intelligence platform around the world. The company plans to increase its team to 30 people over the next year. There is a global team.
Main Sequence was involved in the funding along with the other investors. Lumachain received $22 million in total funding after raising a $2.5 million seed round in July.
Gordon said that they weren't going after other new customers, but rather expanding with their existing customers. The next step is to become the global industry standard.
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