Food-sharing app OLIO has raised $43 million in a Series B funding round, as more and more people become aware of the food waste crisis and look for ways to reduce their environmental impact.
OLIO is a free app that connects people who have surplus food with their neighbors who can use it. It allows users to share food that would otherwise go to waste, such as excess produce from their gardens or surplus items from their pantries. It also allows businesses, such as supermarkets and restaurants, to share their surplus food with the community.
The app, which was launched in 2015, has so far been downloaded by over 4 million users in over 150 countries. The funding will be used to expand the app’s reach and increase its impact on reducing food waste.
The world is waking up to the fact that food waste is not only a moral and environmental crisis but also a huge economic opportunity,” said OLIO co-founder and CEO Tessa Clarke. “We’re thrilled to have the support of such a strong group of investors as we scale up our efforts to make it easy for everyone to do their bit to reduce food waste and create a more sustainable food system.”
According to the Food and Agriculture Organization of the United Nations, around one-third of all food produced globally is wasted each year. This not only results in a huge waste of resources but also contributes to climate change and food insecurity.
OLIO’s mission is to help reduce this waste by making it easy for people to share their surplus food with others. The app is particularly useful for people who want to reduce their environmental impact, but also for those who want to save money on their grocery bills.
The funding round was led by Impact Ventures UK, with participation from other investors including LocalGlobe, Unilever Ventures, and Sistema. VC.
OLIO is solving a critical global problem, and we are excited to support the team in their mission to reduce food waste and its impact on the planet,” said Impact Ventures UK partner, Simon Crowther.
With this latest round of funding, OLIO is well-positioned to continue its mission to reduce food waste and create a more sustainable food system for all. As the world becomes increasingly aware of the environmental and economic consequences of food waste, apps like OLIO are becoming more important than ever.
Conclusion
In conclusion, food sharing app OLIO has raised $43 million in a Series B funding round, as more and more people become aware of the food waste crisis and look for ways to reduce their environmental impact. The app, which was launched in 2015, has so far been downloaded by over 4 million users in over 150 countries. The funding will be used to expand the app’s reach and increase its impact on reducing food waste. With this latest round of funding, OLIO is well-positioned to continue its mission to reduce food waste and create a more sustainable food system for all. As the world becomes increasingly aware of the environmental and economic consequences of food waste, apps like OLIO are becoming more important than ever.
FAQS
Q: What is OLIO?
A: OLIO is a free app that connects people who have surplus food with their neighbors who can use it. It allows users to share food that would otherwise go to waste, such as excess produce from their gardens or surplus items from their pantries. It also allows businesses, such as supermarkets and restaurants, to share their surplus food with the community.
Q: How does OLIO work?
A: OLIO allows users to post pictures and details of surplus food items they have available, and then nearby neighbors can request items they would like. Once a request is accepted, the two parties can arrange for a convenient time for the food to be collected or delivered.
Q: What is the mission of OLIO?
A: OLIO’s mission is to help reduce food waste by making it easy for people to share their surplus food with others. The app is particularly useful for people who want to reduce their environmental impact, but also for those who want to save money on their grocery bills.
Q: How much funding did OLIO raise in its Series B round?
A: OLIO raised $43 million in its Series B funding round.
Q: Who are some of the investors in OLIO?
A: The funding round was led by Impact Ventures UK, with participation from other investors including LocalGlobe, Unilever Ventures, and Sistema. VC.
