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Industries
Food & Agriculture
Enterprise Software
Fintech
Company Size
51-200
Company Stage
Late Stage VC
Total Funding
$304M
Headquarters
San Francisco, California
Founded
2018
Silo provides software and financing solutions for businesses in the food supply chain, particularly those managing perishable goods. Their software tools help clients with inventory management, order processing, payment handling, and logistics coordination. Silo also offers financial services like Instant Pay and Cash Advance to enhance cash flow and support business growth. Unlike many competitors, Silo combines both software as a service (SaaS) and financial services, allowing them to generate revenue through subscription fees and service charges. The company's goal is to streamline operations for their clients, helping them remain competitive in a challenging market.
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Total Funding
$304M
Above
Industry Average
Funded Over
6 Rounds
Silo, a Bay Area food supply chain startup, has hit a rough patch. TechCrunch has learned that the company on Tuesday laid off roughly 30% of its staff, or north of two dozen employees. Silo has confirmed the headcount reductions, clarifying the cuts were across the board and not focused on individual departments.Silo shared the following statement with TechCrunch regarding the layoff:. “We recently made the difficult decision to reduce our headcount by almost 30%. We are committed to supporting those team members impacted and have provided severance packages and recruiting support. At the same time, Silo remains dedicated to serving our customers and the perishables industry at large, and will continue to focus more nimbly on building next-generation supply chain management software solutions.”
Disclosure: AgFunderNews’ parent company is AgFunder. Agtech deals of 2023 followed much the same trajectory as other tech sectors, with lower valuations and far fewer mega-rounds than seen in the VC heyday of 2021 and early 2022. This year also saw a shift towards more investment in climate-focused solutions, hence the multiple waste-to-energy startups and carbon-related companies on the list below. Ag biotechnology, which includes the biologicals sector, was another strong category this year
The additional funding will advance Silo's capacity to develop modular solutions that encompass inventory management, freight logistics, enhanced order management, modern payment options, and innovative capital solutions.
LogiNext has launched a payment module that helps enterprises select carriers and manage payments. The new module facilitates better decisions in choosing carrier partners by comparing the charges of different carriers and drivers via rate charts that are enabled by artificial intelligence (AI) and automation, the logistics automation firm said in a Thursday (Aug. 3) press release. The module considers product specification, delivery distance, discounts and other factors essential to selecting a carrier, according to the release
Food supply chain company Silo Technologies has raised a $32 million Series C led by Koch Disruptive Technologies.
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Industries
Food & Agriculture
Enterprise Software
Fintech
Company Size
51-200
Company Stage
Late Stage VC
Total Funding
$304M
Headquarters
San Francisco, California
Founded
2018
Find jobs on Simplify and start your career today