This past year, the world wasted 1.6B tons of food, resulting in a loss of $1.2T. Research by the Boston Consulting Group predicts that the amount of food waste will rise to 2.1B tons (and $1.5T) by 2030.
According to the research, there’s a $700B opportunity in the food supply chain due to 4 main problems: Crappy infrastructure, low efficiency, lack of incentive, and poor collaboration. But in the past month, several startups have raised money to address each of these issues:
Improving infrastructure (by solving the age-old avocado issue):
Increasing efficiency (because day-old pastries are a BARGAIN):
Offering incentives (cuz even ugly cukes deserve love):
Facilitating collaboration (because no juice is worth a $10 squeeze):
So far in 2018, VC firms have invested more than $2B in food tech
If all goes well, these startups could reduce greenhouse gas emissions associated with food waste and help feed the 870m undernourished people across the planet all while making their investors happy.