Full Harvest has closed a $23 million growth financing round to scale its efforts to reduce on-farm food waste by digitising the produce supply chain.
Full Harvest is a business-to-business produce marketplace specialising in surplus and imperfect fruit and vegetables.
According to the California-based company, more than half of global food waste happens at farm level. Full Harvest aims to help solve the ‘farm distribution problem’ by offering an easy, online option for buyers and sellers to quickly close deals on surplus and imperfect produce.
The company’s latest financing round was led by agtech investor Telus Ventures, the strategic investment arm of Telus Corporation.
The Series B round also included participation from Rethink Impact, Citi Impact, Spark Capital, Cultivian Sandbox and Radicle Growth, among others.
Full Harvest says that it will use the funding to expand its online marketplace and improve the user experience. The company also plans to use the investment to advance its data and market insights offerings, and triple its technology and product team next year.
“Dedicated to empowering ‘full harvests’ with zero food waste to support a more sustainable ag ecosystem, we are transforming a fragmented and opaque offline produce supply chain into a flexible, transparent, reliable solution by directly connecting growers with processors and food and beverage brands online,” said Christine Moseley, founder and CEO of Full Harvest.
“With the influx of capital, we plan to build on our incredible customer successes and expand into new markets to make the global produce supply chain more efficient and sustainable.”
Full Harvest also offers a third-party audit and verification process for rescued produce. Following its collaboration with Danone on the Two Good ‘Good Save’ yogurt line, the company plans to use some of the new funds to expand the use of its Verified Rescued Produce.
© FoodBev Media Ltd 2021
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