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Walton Family Invests In Colorado Food Waste Company

January 10, 2018: 12:00 AM EST
A Colorado-based start-up whose mission is to cut food waste by buying at a discount excess or rejected foods from supermarkets and selling it to foodservice companies has caught the eye of an investment arm of the billionaire Walton family. Foodmaven completed an $8.6 million fundraising round, including Walton money, to continue acquiring, for example, still edible frozen pizzas with a mistake on the box, excess chicken from supermarkets, and produce rejected for cosmetic reasons. FoodMaven has 700 customers in Colorado, including restaurants, hospitals, and large institutional cafeterias, and expects $10 million in revenue this year. [ Image credit: © Colorado Restaurant Assoc.  ]
Craig Giammona, "Second-Hand Pizza Seen as Next Big Thing by Richest U.S. Family", Bloomberg Quint, January 10, 2018, © Bloomberg L.P.
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