FOR IMMEDIATE RELEASE
BlueTrace raises $4 million to modernize the seafood industry
New funding will enable the industry pioneer to modernize seafood operations from tideline to table.
Castine, ME, February 16, 2023 - BlueTrace, the easiest and most powerful traceability solution for seafood harvesters, growers, distributors, processors, and dealers, today announced $3.2 million in Seed funding, bringing the company’s fundraising total to $4.1 million. The round was led by York IE, Maine Venture Fund, and CEI Ventures, with participation from various angel investors, including SeaAhead.
“Sustainable seafood is great for our communities, our planet, and our health,” said Chip Terry, CEO. “Our mission is to keep the seafood supply chain safe, efficient, and compliant by digitizing key transactions to make seamless traceability possible. We have a long list of desired features from our clients — this new funding will help us deliver them.”
Joe Raczka, Co-Founder and Managing Partner at York IE, has joined BlueTrace’s board of directors. Raczka will collaborate with existing board members Abigail Carroll, an oyster farmer turned investor and podcaster, and Dave Ford, a tech entrepreneur and angel investor.
“BlueTrace is bringing a unique digital solution to a traditionally non-digital, tech-laggard industry,” Raczka said. “Chip and the rest of the talented team have proven their product market fit and will continue improving the seafood landscape.”
After identifying a need to manage and track harvests in the shellfish market more effectively, Terry and his partners founded BlueTrace, formerly known as Oyster Tracker, in 2018. After initial traction with shellfish harvesters and distributors, BlueTrace has begun expanding its digital platform to support the broader seafood landscape.
Seafood organizations of any size can use BlueTrace’s cloud-based solutions from their smartphones to create logs (harvest, HACCP, receiving, shipping, cooling, etc.) and tag their products. The system empowers frontline employees to easily track and trace shipments. A regulatory rules engine increases compliance while reducing redundant paperwork.
In November, the FDA announced the final food traceability rules for the Food Safety Modernization Act, which will begin to take effect in 2023. BlueTrace already enables seafood businesses to comply with these increasingly stringent requirements.
“BlueTrace is a game-changer that’s meeting the unique needs of the seafood industry,” said Joe Lasprogata, Vice President, New Product Development at Samuels Seafood. “Our company moves millions of pounds of seafood each year, which obviously means a lot of moving parts. BlueTrace’s platform helps us organize our shipments and give us confidence that we’re staying compliant. ”
BlueTrace announced 121% growth in 2022, expanding its customer base from 150 clients to over 350. With clients in all but two coastal U.S. states and most Canadian provinces, BlueTrace has become the go-to solution for seafood tagging and traceability.
The company has won two Small Business Innovation Research (SBIR) grants from the National Oceanic and Atmospheric Administration (NOAA), which oversees fishery regulations.
Visit blue-trace.com or email email@example.com to learn more and request a quote.
BlueTrace offers the easiest and most powerful traceability platform for seafood growers, wholesalers, distributors, and dealers. Its mobile solutions, designed specifically for the seafood industry, enable users to reduce redundant data entry and errors, streamline operations, and trace their products from tideline to table. Learn more at blue-trace.com.