Danone Manifesto Ventures has led an investment round in food waste management start-up Phenix, which received further investment from ETF partners, BPI, Sofiouest and INCO.
France-headquartered Phenix has pioneered a platform which allows consumers to reduce food waste by buying unsold products from retailers, food producers and local stores at a discounted price, aided by a mobile application.
The company’s waste management platform also ensures that food donations are made to NGOs and food banks, and that leftover food can be donated to farmers for animal feed.
According to a statement from Phenix, this funding will allow the start-up to expand its consumer-facing mobile app and its B2B #TechForGood solution for companies in the food and beverage industry.
In France, approximately 10 million tonnes of food are wasted annually, while eight million people are exposed to food insecurity.
Jean Moreau, co-founder and president of Phenix, said: “Our ambition is that in a few years, wasting food and products will not be acceptable and waste reduction practices will become the simple and effective norm.
“With Danone Manifesto Ventures’ support, we can invent tomorrow’s food system in an environmentally respectful and socially just manner.
“Beyond their financial investment, we are bringing on board a renowned company with iconic brands, and together we will lead a movement aimed at changing consumer habits and reducing food waste all along the value chain, from producers to consumers.
“Danone Manifesto Ventures will be a critical strategic partner to promote new waste practices globally.”
Laurent Marcel, CEO of Danone Manifesto Ventures, added: “Food waste reduction is one of the major challenges that companies, NGOs, governments and consumers need to address collectively to promote a more sustainable and ethical food system.
“Danone has made this challenge a priority for many years through local and global initiatives. We are happy to partner with the talented Phenix team, which keeps inventing innovative solutions to solve this important issue.”
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