London food waste tech firm Winnow raises $20 million
Winnow, the London food waste tech firm, has completed its Series B round of funding.
Led by Ingka Group and Mustard seed the round raised $12 million, which takes the total to $20 million after the company received an $8 million loan from The European Investment Bank earlier this month.
The series B round included investment from Ingka Group, Mustard Seed, Circularity Capital, D-Ax and The Ingenious Group.
Winnow will use the $20 million to expand within the hospitality industry as they push to take their platform global.
Winnow co-founder and CEO, Marc Zornes, said: “We are very excited about driving the business forward in our global fight against food waste and we are grateful for the continuous support of our investors.
“This year, we launched our ground-breaking AI product Winnow Vision, and chefs using Winnow around the world are saving $33m worth of food from going to waste annually.
“We have set a target to save our customers $1bn of food waste by 2025, and this investment will accelerate our technology development and business development approach to help achieve this ambition.”
Winnow now operates in 40 countries and was launched in 2013.