KoRo Acquires Seedtrace Software to Bring Blockchain-Verified Supply Chain Tracing Across Its Range

Berlin-based food company KoRo has acquired the intellectual property of supply chain transparency software firm Seedtrace, securing exclusive usage rights to a platform designed for the food and beverage sector. The acquisition covers the IP only, with the Seedtrace team not included in the transaction. KoRo plans to integrate Seedtrace's technology to enhance supply chain transparency, starting with mapping selected supply chains and eventually extending to deeper layers of its sourcing network.

Seedtrace's platform allows producers to manage data, documents, and questionnaires directly within the system, capturing geo-data and primary information at origin. Payments to smallholder farmers are validated and stored on a blockchain, providing end consumers with transparent supply chain information. KoRo's CEO, Florian Schwenkert, sees the technology as a strategic building block to elevate transparency in the food industry and potentially develop the platform as an open, community-supported model in the future. Both companies aim to create transparency beyond industry standards and emphasize the importance of transparency in business practices.