We’ve all come across that funnily misshapen piece of produce at the grocery store, but it usually ends up in a landfill before hitting the aisle.
Full Harvest, a San Franciso-based B2B platform connecting large farms with food and beverage companies willing to buy this otherwise ‘normal’ produce, has secured a $2 million seed funding round to help change that.
The financing, led by Wireframe Ventures. BBG Ventures, Early Impact Ventures, Impact Engine, Radicle and angel investors including Astia and Joanne Wilson, will be used to substantially grow Fall Harvest’s team and enhance the platform connecting the farmers with prospective buyers, the company said in a statement.
Ultimately, the firm plans to help address the 20 billion pounds of produce that goes to waste each year due to surplus or cosmetic reasons.
“[We are] helping growers recapture the estimated $10 billion market of lost produce sales while lowering costs for food and beverage companies, as well as consumers,” the firm said in the statement.
Full Harvest noted that the Environmental Protection Agency has estimated that more food reaches US landfills and incinerators than any other waste, while 40 percent of all food in the US goes to waste.
“The produce industry is certainly ripe for change,” said Paul Straub, managing partner and co-founder, Wireframe Ventures. “With an exceptional leadership team and a unique platform approach, Full Harvest is creating a lucrative marketplace for sustainable, affordable produce that makes the most of every harvest.”
Jessica Baxter, a purchasing manager with client Juice Served Here, added that the produce her company has purchased thus far “has been absolutely beautiful in appearance and taste.”
“It’s hard to believe this is the product that doesn’t make it to retail shelves and gets thrown out because it doesn’t meet appearance standards,” she said. “I am extremely excited to see the company and its offerings continue to expand so we can do more business together and minimize food waste.”