U.K. Startup Curbing Food Waste Gets $3.3 Million for Expansion
- Winnow's smart scale promises to cut restaurant waste in half
- Venture firms Mustard Seed, D-Ax lead Series A funding round
Would you knowingly throw money in the trash? Of course not. But that’s essentially what most restaurants and caterers do every day, collectively squandering billions of dollars each year by tossing away perfectly good food, said Marc Zornes, the co-founder and chief executive officer of Winnow, a London-based startup whose technology promises to halve food waste in commercial kitchens.
Winnowsaid Wednesday it raised $3.3 million to fund its expansion. Mustard Seed, a U.K. venture fund dedicated to social and environmental impact investing, led the Series A round along with D-Ax, a joint venture between Swedish retail group Axel Johnson and Recapex, a Nordic early stage investor. Both Mustard Seed and D-Ax previously provided seed funding. Jeremy Oppenheim, who leads consultant McKinsey & Co.’s Sustainability and Resource Productivity Practice Group, and Alan Parker, former chief executive of U.K. hospitality group Whitbread Plc, are also Winnow investors.