February 11, 2019 11:45 AM, EST

Tech Startup ePallet Raises $3 Million to Fund 2019 Growth

ePallet Inc., a California-based firm that provides technology to enable food shippers and consumers to buy and sell products in pallet-size quantities direct from manufacturers and food processing firms, has said it has raised $3 million in funding.

CEO James Kwon said the company will use the money to hire more people and to position the company for a larger Series A round of financing in 2019.

“With the $3 million we’ve raised to date,” Kwon said in a Jan. 15 statement, “ePallet is looking forward to increasing its reach in 2019, growing our team and strengthening our mission of fixing the inefficiencies in the food supply chain.”

Although Kwon did not identify the source of funding, ePallet previously disclosed that LA Foods Inc. had made a strategic investment in the company.

Based in Agoura Hills, Calif., LA Foods distributes food and general merchandise to correctional facilities, schools, hospitals and other government institutions, plus thrift stores, food banks, variety stores and small independent retailers. The company operates distribution centers in California, Utah, Texas, Illinois, Iowa, Ohio and Maryland. — Transport Topics