Mudcake (formerly Trellis Road) is a Stockholm-based microfund run by ex-founders, investing $200k–$800k in pre-seed and seed rounds globally. The firm backs startups reshaping the food system across areas such as foodtech, agtech, climate tech, biotech, and supply chain software.
50% of their portfolio is in Food & Agriculture. They made 1 investment in the last 12 months. Their most common stage is seed (43% of deals). Average disclosed round size is $10.9M (across 7 rounds with reported amounts).
Portfolio
11
Fund Size
$18M
Top Stage
Seed
Last 12 Mo
1
Team
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
14 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Planet A Foods | Series A | $15.4M | Sep 2026 |
 Messium | Pre-Seed | — | Sep 2025 |
| Messium | Seed | — | Jan 2025 |
 OlsAro | Pre-Seed | — | Apr 2024 |
| Planet A Foods | Series A | $15.4M | Feb 2024 |
| Planet A Foods | Series A | $15.4M | Dec 2023 |
 Snofox | Seed | $4.5M | Aug 2023 |
 InPlanet | Seed | — | Jan 2023 |
 hexafarms | Pre-Seed | — | — |
 Cbamboo | Pre-Seed | — | — |
 Agteria | Seed | — | — |
| SSnoFox Sciences | Seed | $4.5M | — |
 Planet A Foods | Series A | $15.4M | — |
 Amatera | Seed | $6M | — |
Top Co-Investors
World Fund4 shared
Cherry Ventures4 shared
Omnes Capital4 shared
Nucleus Capital4 shared
TriplePoint Capital3 shared
Pale Blue Dot3 shared
Far East Ventures2 shared
Triple Point Ventures2 shared
Voyager Ventures2 shared
Ponderosa Ventures2 shared
Laconia2 shared
SuperSeed Ventures LLP2 shared
Future Planet Capital2 shared
Clear Current Capital2 shared
Hearst Ventures1 shared
Speedinvest1 shared
Techstars1 shared
Future Food Fund1 shared
AgFunder1 shared
Last updated: 7 October 2026