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Big Investors Back Food Waste App Start-Up

August 15, 2018: 12:00 AM EST
Two-year-old Swedish tech start-up Karma has caught the interest of serious investors intrigued by an app that links restaurants and supermarkets with consumers looking for a food bargain. The company just completed a $12 million Series A funding round whose participants include Bessemer Venture Partners of the U.S., Kinnevik, and Electrolux, the global appliance manufacturer. So far Karma has convinced 1,500 food sellers, including hotels, cafes and bakeries, to distribute surplus food to 350,000 Karma users. The win-win proposition gives customers half-price food while providing food sellers income on food that otherwise would end up in the dumpster. [Image Credit: © Karma]
Amelia Heathman, "Expansion of Karma app shows tech industry is taking food waste problem seriously", Evening Standard, August 15, 2018, © Evening Standard Ltd
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