Food sharing app OLIO raises $43M Series B led by VNV Global, as the startup tries to tackle food waste, with Tesco adding 2.7K stores to the service in 2020 (Mike Butcher/TechCrunch)

Mike Butcher / TechCrunch:Food sharing app OLIO raises $43M Series B led by VNV Global, as the startup tries to tackle food waste, with Tesco adding 2.7K stores to the service in 2020It was curious enough that OLIO, a UK startup with an app that lets users post a photo of unwanted food and share it with the local neighborhood.

Food sharing app OLIO raises $43M Series B led by VNV Global

OLIO, a food sharing app based in the UK, has recently raised $43 million in a Series B funding round led by VNV Global. The startup aims to tackle food waste by connecting users with surplus food in their local area, allowing them to share it with others instead of throwing it away.

OLIO’s app enables users to post a photo of their unwanted food and share it with their local community. This encourages people to reduce food waste and helps others who may be in need of food. OLIO’s service is available in several countries, including the UK, the US, and Australia.

In 2020, Tesco, the UK’s largest supermarket chain, added 2.7K stores to OLIO’s service. This partnership allowed Tesco to reduce its food waste and provided OLIO with access to a large network of potential users.

The recent funding round will enable OLIO to expand its operations and develop new features for its app. OLIO plans to use the funds to improve its user experience, increase its marketing efforts, and expand into new markets.

The issue of food waste is a significant problem worldwide. According to the United Nations, one-third of all food produced globally is wasted, amounting to 1.3 billion tonnes of food each year. Food waste contributes to greenhouse gas emissions, deforestation, and other environmental issues.

OLIO’s app is one of several initiatives aimed at reducing food waste. Other organizations, such as Too Good To Go and Karma, offer similar services to OLIO. These companies are part of a growing movement towards reducing food waste and promoting sustainable practices.

In conclusion, OLIO’s recent funding round demonstrates the growing interest in food waste reduction and sustainable practices. The app provides an innovative solution to the issue of food waste, allowing users to share surplus food and reduce their environmental impact. With the support of Tesco and other partners, OLIO is well-positioned to expand its reach and make a significant impact in the fight against food waste.

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