Mercia led the Series A round to help the company expand its software and research teams.
"We are delighted to have secured this latest funding round, which demonstrates investors’ confidence in the potential of our technology. Authenticate is changing the way the food industry looks at supplier compliance. We live in an ever more transparent world and technology means that so much more information can be monitored in real time – reducing the burden on all parties, and delivering genuine insight into the way our food is grown and processed."
Delin Ventures, firstminute Capital and MMC Ventures backed the round to support engineering expansion and product delivery.
"I’m delighted with the confidence that our investors have placed in us. This investment will enable us to deliver to our customers faster and make possible a paradigm shift in the $2Bn analog IP market."
The investment from the SoftBank Vision Fund will accelerate global growth and technology development.
"We are agents of technological disruption with a mission to make available finance at the lowest possible cost for our clients and their suppliers, whilst opening up a whole new asset class to global investors."
— Lex Greensill, Founder and Chief Executive Officer