Business

A Brazil-based startup that fights food waste, Food to Save raises BRL 1.3 million in less than 24 hours

The funds were raised through the equity crowdfunding platform CapTable and attracted 211 investors. The founders will invest the new resources in technology, marketing, and sales.

Murilo Ambrogi, Lucas Infante and Fernando Henrique dos Reis, founding partners of Food To Save. Photo: Jefferson de Souza/ Courtesy

LABS

26.May.2022 19:57 BRT

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Food to Save, a Brazilian startup that fights food waste and has already avoided the disposal of more than 150 tons since the beginning of its operations a year ago, raised BRL 1.3 million via the crowdfunding platform CapTable. In less than 24 hours, 211 investors got hooked by the startup‘s B2B2C business and social impact proposal.

Using technology and a relatively recent habit — buying through apps — Food to Save offers consumers the surplus from restaurants, bakeries, and grocery stores, products that are still fit for human consumption but that would be otherwise discarded for various reasons. This sale takes place through “surprise bags” and products with prices up to 70% lower than usual.

In addition to facilitating the logistics of partner businesses, the surprise factor unfolds into awareness and attraction: “I want to draw everyone’s attention to the issue of food waste,” explained the CEO and co-founder, Lucas Infante, in an interview with LABS in February.

At Food to Save, consumers can choose only the type of food they want to receive (salted, sweet, or mixed) and between the three bag sizes/prices (BRL 10.99, BRL 15.99, or BRL 20.99).

Food to Save’s MVP was launched in 2020, with investments coming from the partners (bootstrapping): in addition to Lucas, Murilo Ambrogi (CMO), Fernando Henrique dos Reis (COO), and Guido Bruzadin (CTO) make up the corporate structure.

A year later, with angel investment, operations began. Before the fundraising was announced this Thursday (26), the startup had raised BRL 800,000.

Food to Save is available in Sao Paulo capital and Campinas, in Sao Paulo State, and has just arrived in Rio de Janeiro. Among the more than 500 businesses that use the startup‘s services are brands such as Rei do Mate, Dengo Chocolates, Pizza Hut, Duckbill, and the traditional bakery called Bella Paulista.

In this one year of operation, the startup claims to have transacted more than BRL 1.8 million in groceries and generated more than BRL 1 million in incremental revenue for partner businesses.

The startup wants to accelerate its marketing, commercial, and technological roadmaps with the new resources. “In technological improvement, for example, we will be able to develop new engagement features for people, gamifying the use of the platform,” said Reis in a press release.