Silo’s AI and machine learning technology adapts to existing workflows, seamlessly automating the entire supply chain from harvest management and quality control to forecasting and negotiation through logistics and payment.
Silo, a San Francisco-based technology-driven marketplace that uses artificial intelligence (AI) to streamline supply chains for perishable agribusiness, announced a seed round of $3 million in capital led by Alexis Ohanian and Garry Tan’s venture fund, Initialized Capital, San Francisco. Additional participation in this round was secured from Semil Shah from Haystack Ventures, San Francisco; angel investors Kevin Mahaffey and Matt Brezina and The Penny Newman Grain Co., Fresno, Calif.
Silo is replacing traditional systems with efficient, real-time technology to reduce waste, such as loss of products and product rejections and manual processes around data entry, sales and logistics, resulting in a more sustainable and profitable supply chain. By vetting and supporting both buyers and suppliers, Silo creates data-driven connections across retailers, wholesalers, foodservice companies and processors and helps them efficiently transact.