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Relocalize raised $5.8 million in an oversubscribed seed round led by Desjardins Capital to scale up its autonomous microfactory platform.

May 15, 2024over 1 year ago

Amount Raised

$5.8 Million

Round Type

seed

Montreal

Investors

Rgs IceWaterpoint LaneI4 CapitalDesjardins Capital

Description

Relocalize announced the 2nd closing of its $5.8 million seed funding round. The investment will be used to accelerate the development and deployment of Relocalize's technology platform and deploy full-scale microfactories in Canada and the United States.

Company Information

Company

Relocalize

Location

Montreal, Quebec, Canada

About

Relocalize is revolutionizing retail food supply chains with distributed networks of fully autonomous hyperlocal micro-factories. RELO micro-factories produce fresher, greener, and more affordable packaged foods and beverages. They co-locate food production, packaging, and distribution in close proximity to distribution centers to achieve localized fulfillment, eliminating needless "middle mile" transportation, a driver of climate change. Robotics, automation technology, and novel waste-reduction solutions make it possible to efficiently decentralize production while exceeding the highest standards of quality, safety, and sustainability. Currently, the company specializes in producing a revolutionary new standard of cubed ice, but its goal is to expand to every store aisle, thus decarbonizing and strengthening supply chains. At Relocalize, we believe that distributed automated food production will transform access to quality products while significantly reducing both the environmental and economic costs of production and distribution, disrupting the traditional packaged ice market.

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers