San Francisco — Silo Technologies, the industry-leading provider of modern capital and technology solutions for the food supply chain, is thrilled to announce a new $35 million investment from Koch Disruptive Technologies (KDT). This significant investment comes on the heels of Silo’s Series C round, which raised $32 million and was announced on July 12, 2023.
KDT’s decision to inject an additional $35 million into Silo underscores the company’s proven success and its potential to revolutionize operational efficiencies across supply chains. “Silo’s innovative solutions for the food supply chain are providing real value to customers that require more advanced and efficient supply chain management options,” said Brendon Durkin, managing director of Koch Disruptive Technologies. “As our economy increases in complexity and interconnectedness, Silo’s capability to combine both capital access with tech-driven logistical support can bring major disruptive improvements to not just the food supply chain but to other supply chain and commodity markets as well.”
This endorsement from KDT follows Silo’s remarkable growth trajectory, driven by its cutting-edge fintech platform that enhances business performance for its customers. Silo’s Fintech Platform has experienced an astonishing 650% growth in just nine months, demonstrating its strategic expansion of product offerings and solidifying its prominence beyond the food supply chain sector.
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. Silo’s distinctive financing approach empowers businesses to swiftly access working capital, ensuring their ability to capitalize on market opportunities that drive significant growth. For example, three Miami-based distributors achieved an impressive 350% average increase in revenue within just one year by harnessing a combination of Silo’s capital and technology solutions. Silo customer, Donald Carter, of GreenFruit Avocados, states, “Coming from the banking world, Silo’s approach to underwriting is built for this industry. They helped us secure financing quickly, securely, and we continue to partner with them.”
The company’s dedication to innovation and excellence is prominently showcased through its recent strategic hires. In particular, the addition of Sophie Hartshorn as the General Manager of Silo Logistics, Clint Blaylock as the Head of Payments, and Shannon Colligan as the Head of Partnerships highlights Silo’s dedication to addressing the intricate challenges of the perishable food supply chain. These new team members bring a wealth of diverse perspectives and expertise garnered from adjacent fintech and supply chain domains, reinforcing Silo’s position as a leader in the industry.
In closing, Silo Technologies remains steadfast in its commitment to modernize the food supply chain. With the substantial backing from Koch Disruptive Technologies and its other investors, the company is poised to forge ahead on its journey of innovation and success. Ashton Braun, CEO and co-founder of Silo, encapsulates the company’s enthusiasm, stating, “We’re thrilled to have Koch Disruptive Technologies recognize our success and potential with this additional investment. It validates our mission and vision to transform supply chains and redefine what a capital and technology partnership looks like. The partnership with KDT, along with the continued support from our existing investors, positions Silo for continued growth and innovation in 2023 and beyond.”
Silo Technologies invites you to stay tuned as it continues to shape the future of the food supply chain, setting new standards for excellence and innovation in the industry.
About Silo Technologies:
Silo Technologies is the leading provider of technology and capital solutions for the food supply chain. Founded in 2018 by Ashton Braun and based in San Francisco, Silo has raised $315 million in funding from leading investors and lenders, including KDT, Jefferies Financial Group, SVB, Andreessen Horowitz, Initialized Capital, Haystack Capital, Tribe Capital, Collate Capital, and Moore Capital. In August 2023, Forbes recognized Silo as a ‘Next Billion-Dollar Startup,’ positioning the company as one of the next-generation unicorns shaping the future of logistics and supply chain management. Silo is committed to revolutionizing the food supply chain industry through innovative technology solutions. For more information, visit https://usesilo.com.
About Koch Disruptive Technologies:
Koch Disruptive Technologies (KDT) is a unique investment firm, focused on empowering founders to create a could-be world. KDT provides a flexible, multi-stage investment approach from early venture capital through growth equity, including private and public companies. We work with principled entrepreneurs who are building transformative companies, disrupting the status quo, and creating new platforms. KDT is a subsidiary of Koch Industries, one of the largest privately held companies in the world with annual revenues that exceed $125 billion and operations in about 60 countries. KDT helps its partners unlock their full potential by bringing Koch’s capabilities and network to them, structuring unique capital solutions, and embracing a long-term, mutual benefit mindset. For more information, visit http://www.kochdisrupt.com/
