Relocalize, a Quebec-based cleantech startup, announced the closing of its $5.8-million seed funding round to scale up its autonomous microfactory platform, raising $1 million more capital than originally anticipated.
Relocalize cuts greenhouse gas emissions and costs by deploying microfactories at grocery distribution centers to produce food and beverages hyper-locally. By decentralizing production, Relocalize is able to eliminate 100% of middle-mile transportation and de-risk supply chains.
This seed extension was spearheaded by Desjardins Capital with ongoing support from initial seed investors, including i4 Capital, Waterpoint Lane, and RGS Ice. 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. The company plans to double its engineering team in the coming months to meet strong demand from retailers in the packaged ice market segment.
"Bringing on a capital partner like Desjardins Capital at the seed stage gives our vision for a truck-free future for manufactured foods a huge boost. We’ll be moving quickly to scale up deployments of our first-to-world micro-factories with grocery retailers,” said D. Wayne McIntyre, CEO of Relocalize.
The company plans to double its engineering team in the coming months to meet strong demand from retailers in the packaged ice market segment.
This seed round extension follows the first seed round closing of $3.5M in September, led by i4 Capital, a Quebec-based deeptech fund, Waterpoint Lane, a Toronto-based impact fund and RGS Ice based in California.
About Relocalize
Relocalize is pioneering the transformation of the food system sustainability through decentralized production. Their autonomous production platforms, strategically positioned in retailer distribution centers, aim to disrupt traditional food and beverage industries by eliminating unnecessary transportation and associated emissions. For more information, visit https://www.relocalize.com/.
