Japanese Trader Leads Funding for IBM-Powered Coffee Blockchain
- Itouchu is leading the $9 million series A for Farmer Connect
- Coffee trader Sucafina remains the firm’s main shareholder
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A Japanese trader is betting consumers will continue to demand more information about where their coffee comes from, investing in a bean-tracing blockchain startup powered by International Business Machines Corp.
Itochu Corp. is leading a $9 million series A funding for Farmer Connect, an agri-tech company that helps the coffee industry trace the origin of the beans it buys and sells, according to an emailed statement. Swiss trader Sucafina, the startup’s majority shareholder, also took part in the financing round.