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        Saveggy, a Swedish startup that develops plant-based coatings, has raised EUR 1.76 million (~USD 1.9 million) in a seed funding round led by Unconventional Ventures, with participation from LRF Ventures, Almi Invest GreenTech, and industry angels.
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      <p>
        The funding will be used to to further develop its plant-based solution to extend the shelf life of fruits and vegetables. The solution has gained EU approval for use on edibles with skin like cucumbers and apples.
      </p>
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      <p>
        Saveggy&rsquo;s coating works by forming a thin, protective coating on produce. Mainly derived from plant sources like canola and oats, the company claims that its coating prevents moisture loss, reduces oxidation speed, and maintains product firmness and appeal, resulting in increased shelf life. The coating can be easily integrated into standard agriculture processes as it is applied simply by dipping or spraying post-harvest.
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  <p>
    <a href="https://vegconomist.com/packaging/saveggy-e1-76m-edible-coating-fruits-veggies-better-plastic-packaging/">
      Vegconomist
    </a>
  </p>
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Food Waste

<div>
 <p>Saveggy, a Swedish startup specialising in developing plant-based coatings, has raised EUR 1.76 million (~USD 1.9 million) in a seed funding round. The round was led by Unconventional Ventures and included participation from LRF Ventures, Almi Invest GreenTech, and several industry angels.</p>
 <p>The funds acquired will be utilised to further develop the startup's plant-based solution aimed at extending the shelf life of various fruits and vegetables. The solution, which has obtained EU approval for use on edible skin-based produce like cucumbers and apples, provides a beneficial solution to food waste.</p>
 <p>The coating developed by Saveggy functions by forming a thin, protective layer on the surface of produce. Derived largely from plant sources, such as canola and oats, the company assures that its coating not only prevents moisture loss but also reduces oxidation speed and maintains the product's firmness and overall appeal, thus prolonging its shelf life. As it is applied by a simple process of dipping or spraying post-harvest, the coating can be seamlessly integrated into standard agriculture processes.</p>
</div>

Saveggy raises EUR 1.76 million in seed funding to develop edible coating for produce

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 <p>Reduced, a Danish startup that creates natural flavor enhancers from upcycled food, has obtained EUR 6 million (~USD 6.5 million) in funding. The lead investors were Novo Holdings and Einar Willumsen, and they were accompanied by existing investors EIFO and Rockstart Agrifood.</p>
 <p>With this funding, the company intends to enhance its technology platform, expand its savory ingredient range, boost production capacity, and improve sales and marketing initiatives.</p>

</div>

Reduced raises EUR 6 million to accelerate operations

PROMINENT_CATEGORY

<div>

 <p>The carbon credit platform, Pachama, based in California, has recently made public its carbon offset purchase agreement with Shopify. This agreement marks a groundbreaking reforestation investment in the Atlantic Forest of Brazil. </p>
 <p>This collaboration entails a payment of USD 3.37 million by Shopify to Pachama via its Sustainability Fund. The aim of this investment is the reforestation of around 200 acres of land. Over the span of the next 17 years, this initiative is projected to remove 45,000 tons of carbon. </p>

</div>

Pachama and Shopify partner to pioneer reforestation in Brazil

ANALYST_QUICK_TAKE

<div>
 
 <p>UK's Clean Food Group has garnered USD 3.1 million from the Clean Growth Fund. The funds will speed up the market release of their sustainable oils and fats technology. The company uses yeast and fermentation to produce oil and fat substitutes from food waste.</p>

</div> <p><b>Analyst QuickTake:<br>
</b> In <a href="https:<br>
//sp-edge.com/updates/24669"> December 2023 </a> , the company secured a ~USD 1.3 million research grant to accelerate its manufacturing capabilities. The recently secured funding will support the company’s aspirations to build a commercial-scale manufacturing facility in 2024.</p>

Clean Food Group raises EUR 2.9 million to accelerate commercialization

<div>
 
 <p>MyGug, a company based in Ireland that offers energy solutions generated from food waste, has recently raised EUR 900,000 (approximately USD 970,700) in a seed funding round. This funding round was led by BVP, with Enterprise Ireland also participating.</p>
 <p>These funds are set to aid MyGug in expanding its operations both within Ireland and to international markets and also to accelerate the innovation of its product offerings.</p>
 <p>The company was initially founded back in 2018, with a focus on developing technology for anaerobic digestion that can turn food waste into energy. MyGug's compact and modular small-scale digesters are designed to be used at commercial premises like food businesses and other commercial establishments, generating renewable energy on-site.</p>
 
</div>

MyGug raises EUR 900,000 in seed funding to support expansion

<div>
 
 <p>Mill Industries, a company based in California, has launched an updated version of its kitchen bin with the aim of converting food waste into chicken feed through a subscription model. Compared to the older model's 10-hour processing time, the new bin can grind food waste into compost similar to coffee grounds in just 2.5 hours as well as manage 40 lbs of waste before it needs to be emptied.</p>
 
 <p>Boasting increased energy efficiency, the first version of this bin was released by Mill Industries in <a href="https://sp-edge.com/updates/16485"> February 2023 </a> at a subscription cost of USD 33 per month. Interested customers can now opt to buy the improved version outright for USD 999 or choose the USD 29 per-month subscription. The company further announced in February 2024 that it has secured a license from the Washington State Department that allows it to process the food waste produced by its bins into chicken feed.</p>
 
</div>

Mill Industries launches new version of kitchen bin

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 <p>An Israeli company, Save Foods, known for manufacturing edible coatings designed to extend the shelf life of fruits and vegetables, has made a decision to change the company's name to "N2OFF Inc." The company believes that the new name better reflects its corporate goals and core values.</p>
 <p>The change also introduces an updated logo, along with a redesigned website. The company has announced a date for the continuation of trading under the new name. Starting March 19, 2024, the company, under the symbol "NITO," will resume its trading activities on the Nasdaq exchange.</p>
 
</div>

Save Foods announces corporate rebranding into N2OFF Inc.

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 <p>An Israeli company called Save Foods, known for manufacturing edible coatings to prolong the shelf life of fruits and vegetables, has been granted permission by the California Department of Pesticide Regulation (CDPR) to utilise its pre-harvest treatment known as FieldProtect.</p>
 <p>The company believes that this authorization will facilitate the acceleration of its plans to expand commercially in California.</p>

</div>

Save Foods receives approval to use FieldProtect in California

<div>
 
 <p>The Washington state legislature has passed House Bill 2301, which will establish new grant programs, and amends labeling requirements and recycling processes for local governments, residents, and businesses.</p>
 <p>HB 2301 instructs the recently formed Ecology Washington Center for Sustainable Food Management to set up a group of experts to examine infrastructure, recovery programs, and food contributions. The bill also mandates the collection of compost from single-family residents.</p>
 <p>The bill's objective is to decrease food waste generation by 50% by 2030 and edible food waste by 50%. HB2301 comes subsequent to House Bill HB1799, which was passed in 2022. That bill pursued directing 75% of organic material to landfills and the recovery of 20% of discarded edible food by 2025 in comparison to 2015.</p>
 
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Washington legislature passes new laws to help food waste reduction

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 <p>Winnow, a UK-based company offering AI solutions to reduce food waste, has secured funding from Singapore-based private equity firm ABC Impact. The investment will enable Winnow to expand its food waste solution in commercial kitchens throughout Asia. Winnow asserts that it can cut food waste by 30% within a month of implementation.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> Winnow is present in over 45 countries worldwide and counts leading food service providers among its users. In June 2023, the company secured <a href="https:<br>
//sp-edge.com/updates/19493"> USD 10 million in a Series C funding round </a> to develop its AI capabilities.</p>

All Updates

Saveggy raises EUR 1.76 million in seed funding to develop edible coating for produce

Reduced raises EUR 6 million to accelerate operations

Pachama and Shopify partner to pioneer reforestation in Brazil

Clean Food Group raises EUR 2.9 million to accelerate commercialization

MyGug raises EUR 900,000 in seed funding to support expansion

Mill Industries launches new version of kitchen bin

Save Foods announces corporate rebranding into N2OFF Inc.

Save Foods receives approval to use FieldProtect in California

Washington legislature passes new laws to help food waste reduction

ABC Impact brings AI-generated food waste solutions to Asia

Food Waste

Saveggy raises EUR 1.76 million in seed funding to develop edible coating for produce

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