OneThird Raises $3 Million to Tackle the $1 Trillion Lost to Food Waste Annually
ENSCHEDE, The Netherlands, March 23, 2023 /PRNewswire-PRWeb/ -- OneThird, an AI-powered food tech company created to address the annual loss of one-third of all food produced due to spoilage, today announced the company has raised $3M (2.75M euros) in a late-seed funding round, increasing the total amount of funding raised to date to $6.1M (5.75M euros). The late seed funding was led by Dutch-based impact investor Pymwymic (an acronym for "Put Your Money Where Your Meaning Is Community"), with participation from prior investors Halma Ventures Limited, SHIFT Invest and Oost NL. OneThird will use the new funding to scale its technology and operations to expand to new markets and support fresh produce supply chains in North America and Europe as the company works to tackle the $1 trillion lost annually to worldwide food waste due to spoilage. View a short video about OneThird here.
- OneThird will use the new funding to scale its technology and operations to expand to new markets and support fresh produce supply chains in North America and Europe as the company works to tackle the $1 trillion lost annually to worldwide food waste due to spoilage.
- Up to one-third of food brought to market annually is wasted at an estimated cost of $1 trillion , and almost half of it – 40% – is fresh produce.
- "Global food waste has an enormous environmental impact; reducing global food waste can help to reduce global greenhouse gas emissions and embolden global food security.
- One-third of global food produced annually is lost or wasted, which is an astronomical volume given the number of people worldwide who go to bed hungry.