P&P Optica has completed its Series B funding round, which will be used to accelerate the implementation of hyperspectral imaging technology in food processing plants across the U.S. and Canada.
“We are thrilled to have completed this new round of funding,” said Olga Pawluczyk, PPO’s founder and CEO.
“Processors are the vital link between producers and consumers. PPO is laser focused on providing tools and solutions that increase automation, optimize production and modernize this crucial industry. The pace of innovation in food processing is accelerating and we are passionate about transforming the industry with data and analytics.”
Hyperspectral imaging could provide processors with information about the chemical composition of poultry products, making it easier to identify foreign material contamination or meat quality defects, like woody breast. Artificial intelligence (AI) and machine vision is used to analyze the images – which look like squiggles to the naked eye – and display the precise information about the chemical composition of the poultry or meat product.
The technology is currently in use on chicken parts but could one day be used to analyze the whole bird.
The funding round was led by Ag Capital Canada, alongside Synovus Family Office, Fulcrum Global Capital, Export Development Canada and others.
“We have been impressed by the quality of insights that PPO’s technology provides today and we are even more excited about what this could mean for the future of food production and processing,” said John Lansink, General Partner Principal at Ag Capital Canada. “This unique application of AI means we can start to analyze correlations between food quality and multiple variables going back to how crops and animals are raised and processed.”
“As one of the initial investors in PPO, we have seen how the fast evolution of its data and analytics has increased the intelligence available to food processors,” said Kevin Lockett, Partner, Fulcrum Global Capital. “Advances in imaging, computer processing and AI mean we can now gather vast amounts of data on food chemistry. This has enormous potential. By looking at trends in food composition, we can identify ways to optimize production across the entire food system.”
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