Foundry is a venture capital firm focused on providing early-stage technology investments. The firm was established in 2007 and is headquartered in Boulder, Colorado, United States.

Foundry Group

Finn Capital Partners is a family fund born out of a third generation family business and a deep-seated family tradition of entrepreneurship. Led by Founder and Managing Partner Patrick Finn.

Finn Capital Partners

Barnana

An alternative to traditional snacks; healthy, organic Barnana, the Super Potassium Snack, is pioneering the use of the banana's naturally occurring nutritional content. Barnana has no additives, no preservatives and is naturally sweet. Barnana's banana snacks are grown in sustainable, organic farms in South America and are an exceptional source of potassium, fiber and have over 20 vitamins and minerals. Original, Chocolate, Coconut, and Peanut Butter Organic Banana Bites can be found at Whole Foods, Safeway, Sprouts, and other finer grocers nationwide.

Barnana is a producer of various banana-based snacks, manufactured using “imperfect bananas” that are rejected for export. These bananas would otherwise go to waste. The products are made in the US from bananas that are sourced from Central and South American planters.

Tech solutions for achieving global anti-wastage targets

Food Waste

Barnana specializes in producing snack foods made from plantains and bananas. The company's product line includes plantain chips, grain-free tostones, and banana bites. These snacks are designed to be salty, crunchy, and sweet, offering a unique flavor profile while using minimal ingredients. Barnana emphasizes the use of organic ingredients in their products, catering to consumers seeking healthier snack options. The company also focuses on sustainability by upcycling ingredients, which addresses food waste concerns. All Barnana products are non-GMO, aligning with consumer preferences for natural food options. The company's approach combines flavor innovation with environmental consciousness, positioning its snacks as both satisfying and ethically produced.

Plantain Chips, Grain Free Tostones, Banana Bites

Convenience Foods

Barnana® Snacks Introduces Organic Plantain Crisps

Barnana is a producer of various banana-based snacks, manufactured using “imperfect bananas” that are rejected for export. These bananas would otherwise go to waste. The products are made in the US from bananas that are sourced from Central and South American planters.As of October 2024, the company had partnered with&nbsp;over 1,500&nbsp;farmers.&nbsp;Barnana was operating across 14,000 distribution points in the US with 16 banana-based products. The company claimed that it buys organic plantains at a 30% premium over market prices, thereby increasing farmers’ monthly income by 4x.The company’s products are distributed via grocery retailers including Whole Foods, Costco, CVS, and Kroger in the US and can also be purchased online via the company’s website.&nbsp;As of October 2024, the company reported that it saved more than 100 million bananas from going to waste.&nbsp;The company reportedly saw strong growth and positive reviews for its snacks. According to the company, Barnana's chewy banana snacks became<a href="http://www.prnewswire.com/news-releases/major-investment-and-impressive-expansion-catapult-barnana-to-1-in-its-category-300392680.html"> the fastest-growing snack in its category</a> in the US, growing at a CAGR of&nbsp;<a href="https://www.forbes.com/sites/meggentaylor/2017/01/17/barnana-how-three-friends-created-a-multi-million-dollar-business-upcycling-bananas/#630b1e8e607b">139%</a> during 2012–2016.&nbsp;In September 2021, the company acquired Agroapoyo, an Ecuador-based producer of snacks made from dehydrated organic produce, for an undisclosed amount. Agroapoyo&nbsp;was Barnana’s supplier for more than eight years. The vertical integration with Agroapoyo was to help Barana create a “farm-to-shelf” company, ensuring a stable supply of organic bananas and plantains as well as expand its network of partnered farmers to over 5,000. The acquisition was also expected to support continuous growth in Barnana’s revenue while providing adequate support to farmers in shifting towards organic regenerative production methods.

Apeel Sciences is a California-based food technology company that produces edible coatings made of plant materials that extend the lifetime of fruits by 2x–3x to prevent food wastage in regions where refrigeration is scarce.&nbsp;The coatings are intended for use on fruits and vegetables, with a primary focus on avocados, apples, mangos, cucumbers, and citrus fruits.&nbsp;According to the company, US retailers that used Apeel experienced a 50% reduction in waste alongside a 5%–10% growth in sales on average. As of&nbsp;April 2024, Apeel Sciences reported to have saved&nbsp;over&nbsp;60 million pieces of produce from going to waste at retail stores by partnering with small family-owned farmers, local organic growers, grocery stores, and large food brands.&nbsp;As of October&nbsp;2024, the company was offering its solution to a network of 30 suppliers and 40 retailers across eight countries, including the US, UK, Spain, Netherlands, and Kenya. The company focuses on expanding its market presence across North America and the EU.In May 2020, Apeel announced plans to expand to Sub-Saharan Africa, Central, and South America—all regions where food wastage was increasing.&nbsp;Following this, Apeel expanded to Sub-Saharan Africa in 2022 and began its expansion to South America in 2024.In May 2021, Apeel Sciences acquired&nbsp;the&nbsp;startup Impact Vision for an undisclosed amount. Impact Vision’s technology allows suppliers to see inside their fresh produce and ultimately reduce post-harvest loss and optimize distribution while continuing to extend shelf life.&nbsp;Key customers and partnerships&nbsp;Apeel has partnered with various distributors for the distribution of its avocados, including The Kroger Company in September 2018 for Cincinnati, Calavo Growers in January 2021, and Nature’s Pride for Europe in March 2021.&nbsp;The company also collaborated with Topline Farms in February 2023 for the development of the Apeel-Protected Mini Cucumber and licensed its coating technology to Limoneira in May 2023 for use on lemons.&nbsp;

Apeel Sciences

Shelf Engine provides demand forecasting tools,&nbsp;which leverage AI and machine learning, for perishable food items to reduce inefficiencies in the ordering system and minimize overall costs. According to Shelf Engine, more than 30% of highly perishable foods in grocery stores such as meat and vegetables expire before the sell-by date. Shelf Engine’s scan-based trade (SBT) technology guarantees sales and pays for any items that remain unsold. Via the SBT, Shelf Engine manages orders, pays vendors, and only charges the retailer for what sells while still paying suppliers for their full order and increasing its accuracy over time. Shelf generates revenue by charging a markup on the product from the vendor to the retailer.As of October 2024, Shelf Engine operated in more than 3,000 grocery stores and claimed to increase profit margins by more than 50% by reducing food waste by as much as 32%.&nbsp;Shelf Engine also reported that it prevented 5.2 million lbs of food wastage, decreased 8,200 tons of CO2, and saved 500 million gallons of water.Key customers and partnershipsIn January 2024, Shelf Engine partnered with Dollar General to implement fully automated AI-powered ordering for produce, aiming to enhance inventory management and reduce food waste across Dollar General's stores. This collaboration would leverage Shelf Engine's technology to optimize ordering processes and improve the freshness of perishable items.Shelf Engine also worked with supermarket and grocery chains Whole Foods, Target, Kroger, Walmart, Ralphs, Harmons, and Bi‑Rite to manage orders and reduce food waste.

Shelf Engine

Afresh began as a research project in 2017 to develop AI-powered software that optimizes the entire food supply chain. Specifically, the company offers an in-store solution for grocery stores that applies artificial intelligence to manage the freshness of food. According to the company, the implementation of its technology has led to a 25%–45% reduction of in-store food waste and increased gross margin of fresh produce sales by 4 percentage points. The company generates revenue under a SaaS model. In&nbsp;<a href="https://sp-edge.com/updates/16835">March 2023,</a> the company expanded into fresh departments, including meat, seafood, deli, and food service.As of&nbsp;October 2024, the company’s technology was deployed across 3,000 stores in 40 states in the US and it reported that it was able to triple its customer base in 2021.&nbsp;Afresh also reported that it prevented 44 million lbs of food wastage as of 2024 while reducing 24 million kg of CO2 emissions and saving 886 million gallons of water.Key customers and partnershipsSome of Afresh's key customers include Fresh Thyme Market, WinCo Foods, and Heinen’s. In 2019, the company also reported that it had established partnerships with three US grocery chains, each with more than 100 stores in operation.&nbsp;&nbsp;The company also collaborated with Bashas’ Supermarkets Inc. (a chain of grocery stores based in North America with over 100 stores) in September 2021 and New Season Market (a chain of 19 privately owned grocery stores) in October 2021 to pilot the “Afresh AI-driven software solution” at selected stores.In December 2022, Afresh partnered with SpartanNash to pilot the AI-powered Afresh platform at 10 of SpartanNash’s Family Fare grocery stores.&nbsp;&nbsp;In&nbsp;<a href="https://sp-edge.com/updates/15786">January 2023</a>, Afresh and Albertsons Companies announced the completion of an enterprise rollout of the Afresh predictive ordering and inventory management platform.&nbsp;Afresh also partnered with Albertsons Companies again in October 2024 for the launch of Afresh DC Forecasts, where Albertsons was its first customer.

AFresh

UK-based Winnow Solutions identifies and measures waste in commercial kitchens. The company records the reason for the waste, calculates the value of the wasted food, and keeps track of this data in the cloud. The company’s self-titled product shares technology with autonomous vehicles, using cameras to record and learn about food being wasted and calculate the financial and environmental cost of this discarded food. Winnow Vision also provides a Waste Monitor solution to help kitchen staff track how and what food is wasted to adjust their spending on food ingredients and eliminate overproduction.As of October 2024, Winnow Solutions reported that it had annually saved over 50 million meals, reduced 87,000 tons of CO2, and saved USD 70 million for customers.Key customers and partnershipsWinnow’s customers include the catering company&nbsp;<a href="https://sp-edge.com/updates/5386">ISS</a> and hotels such as Accor, Fairmont, The Westin, Four Seasons, and Hilton Tokyo Bay.&nbsp;In September 2023, Winnow Solutions partnered with Ne’ma, the UAE’s National Food Loss and Waste Initiative, to support Ne’ma with data, benchmarking, and best practices for the hotels, restaurants, and catering (HoReCa) sector.&nbsp; Following this, Winnow was selected as a preferred food waste management vendor by Dayblink GPO in November 2023.

Winnow Solutions

Hazel Technologies is a United States Department of Agriculture (USDA)-funded technology company that develops packaging that releases vapors that slow the aging process and prevent fungus or decay. Its solution is claimed to double the shelf life of produce. Hazel operates a B2B business that targets large enterprises. The company has reported treating&nbsp;5 billion lbs of produce as of October 2024, saving about 4 billion lbs from going bad. The company has a target to save one billion&nbsp;lbs of produce from going to waste by the end of 2021. Hazel operates in&nbsp;13 countries&nbsp;across the US, South America, and Europe, as of October 2024.&nbsp;Hazel works with around 250 food service and produce companies including the likes of Sysco, Mission Produce, Zespri, Calavo, and Oppy.&nbsp;As of October 2024, the company offers Hazel Endure, its antimicrobial packaging for berries, grapes, and other fruit, which uses an anti-fungal pad to extend the shelf life and quality of fruits and other produce.Key customers and partnershipsHazel Technologies has formed several partnerships to reduce food waste and extend the shelf life of various produce. These included collaborations with Mission Produce for avocados in July 2020, Migiva Group for grape trials in March 2021, Specialty Crop Company for figs and Symms Fruit for apples in May 2021, Oppy and Brar Farms for California-grown table grapes in July 2022, and Kliewer Farms for kiwifruit in November 2022.

Hazel Technologies

Startups that prevent food wastage by prolonging the lifetime of food or better managing food production through the supply chain. Companies that develop products such as sanitizers, containers, and machines that allow food to stay fresh longer are included here. Startups that develop algorithms to determine food preservation strategies are also included.

These startups ensure work to reroute surplus food to different sets of end-users including charity organizations and consumers seeking discounted items. This segment mainly consists of on-demand online platforms that connect producers, retailers, and restaurants with consumers via mobile app.

Startups that recycle food waste for industrial uses such as soil enrichment.

Startups that recycle food waste into edible food and beverages.

Solutions that keep food waste out of landfills

Recycling and upcycling food waste to keep them out of landfills

IoT-enabled waste prevention techniques for purposes such as longer shelf-life and inventory management

Waste prevention analysis platforms use AI/ML

Barnana specializes in producing snack foods made from plantains and bananas. The company's product line includes plantain chips, grain-free tostones, and banana bites. These snacks are designed to be salty, crunchy, and sweet, offering a unique flavor profile while using minimal ingredients. Barnana emphasizes the use of organic ingredients in their products, catering to consumers seeking healthier snack options. The company also focuses on sustainability by upcycling ingredients, which addresses food waste concerns. All Barnana products are non-GMO, aligning with consumer preferences for natural food options. The company's approach combines flavor innovation with environmental consciousness, positioning its snacks as both satisfying and ethically produced.

Wholly Veggie is a Canadian plant-based food company founded in 2017 by John Bonnell and David Gaucher, two former executives from the organic meat industry. The company specializes in producing vegetable-forward frozen foods, including appetizers, snacks, and entrees. Wholly Veggie's product line features items such as cauliflower wings, mozzarella-style sticks, sweet potato popcorn, and various plant-based meals. The brand aims to make vegetables fun, delicious, and accessible while promoting healthier and more sustainable eating habits.
Wholly Veggie's products are made with simple, whole food ingredients and are free from additives, preservatives, gluten, and soy. The company uses vegetables as the main ingredients in its products, focusing on cauliflower, sweet potatoes, and other nutrient-rich vegetables. In 2021, Wholly Veggie partnered with Outcast Foods to incorporate upcycled cauliflower powder sourced from imperfect produce into their product line, demonstrating a commitment to reducing food waste.
The brand has experienced significant growth since its inception. As of 2023, Wholly Veggie products were available in over 6,000 retail outlets across North America, including major chains such as Target, Whole Foods Market, Sprouts Farmers Market, Walmart, and Loblaws. In 2021, the company saw a surge in popularity following the launch of its cauliflower wings and expansion into 1,200 Target locations in the US.
Key customers and partnerships
Wholly Veggie has successfully expanded its presence in major retail chains across North America. As of 2023, the company's products were available in over 6,000 stores, including Target, Whole Foods Market, Sprouts Farmers Market, Walmart, and Loblaws. In October 2022, Wholly Veggie announced the distribution of its award-winning Mozzarella Style Cheese Sticks at 705 Target locations, further expanding its reach in the US market.
In 2021, Wholly Veggie partnered with Outcast Foods, a sustainable food tech innovator, to launch mozzarella and jalapeno cheddar sticks featuring a patented upcycled cauliflower crust. This collaboration demonstrates the company's commitment to sustainability and reducing food waste in its production processes.

Wholly Veggie

Gardein is a plant-based food company that specializes in creating meat alternatives. Founded in 2003 by Canadian chef Yves Potvin, Gardein offers a diverse range of products designed to mimic the taste and texture of various meats. The company's product line includes plant-based versions of chicken, beef, pork, fish, and more. Gardein's products are made from a blend of non-GMO soy, wheat, pea proteins, and other plant-based ingredients. The brand aims to provide sustainable and compassionate food choices without sacrificing taste.
Gardein's product offerings are extensive, ranging from crispy tenders and mandarin orange crispy chick'n to fishless filets and plant-based jerky. The company also produces breakfast sausages, meatballs, and even canned soups and chilis. Many of Gardein's products are frozen for convenience, but they also offer refrigerated and shelf-stable options. In 2019, Gardein expanded its line with 11 new frozen meals, including spicy and maple patties and breakfast bowls.
The company has positioned itself as a leader in the plant-based protein market, with its products available in major retailers across North America. In 2018, Conagra Brands acquired Gardein as part of its USD 10.9 billion purchase of Pinnacle Foods. Following this acquisition, Conagra saw potential for significant growth in the plant-based sector, with CEO Sean Connolly estimating a USD 30 billion opportunity for Gardein in the US alone.
Gardein has continued to innovate, launching new products to compete in the evolving plant-based market. In January 2020, the company introduced its Ultimate Plant-Based Burger, made from pea protein, to compete with other popular plant-based burgers. Gardein has also developed products in the plant-based hot dog and sausage categories.

Gardein

Strong Roots is a plant-based frozen food company founded in 2015 by Samuel Dennigan in Ireland. The company offers a range of vegetable-forward products including cauliflower hash browns, mixed root vegetable fries, veggie burgers, and bites. Strong Roots has positioned itself as a challenger brand aiming to "fix the freezer aisle" by providing convenient, healthy, and sustainable plant-based options. The company's products are made with simple, whole plant ingredients and are free from artificial additives. Strong Roots has expanded rapidly since its founding, with its products now available in over 10,000 stores across multiple countries including Ireland, the UK, US, Australia, and parts of Europe and Asia. In 2020, Strong Roots became a certified B Corporation, demonstrating its commitment to environmental and social responsibility. The company introduced carbon footprint labeling on its packaging in 2022, allowing consumers to easily understand the climate impact of its products. In December 2022, Strong Roots expanded into the single-serve frozen entree category with a new line of 14 plant-based meals. In April 2024, Canadian frozen food giant McCain Foods acquired Strong Roots for an undisclosed sum, building on its initial USD 55 million investment for a minority stake in 2021. Following the acquisition, Strong Roots continues to operate as a distinct business unit within McCain, with plans to scale the brand globally and expand into more regions.

Strong Roots

Happi Foodi is a frozen food company based in Nutley, New Jersey, that specializes in developing and commercializing a diverse portfolio of chef-inspired frozen meals and products. Founded in 2018, the company offers a range of breakfasts, appetizers, entrees, pizzas, and veggie side dishes available nationwide. Happi Foodi's product line includes ready-to-heat meals, keto bowls, and veggie sides, focusing on providing convenient, flavorful, and nutrient-rich meal solutions. The company's mission is to make chef-inspired eating accessible and convenient for consumers to enjoy from home or on-the-go.
Happi Foodi's products are designed to support a health-forward lifestyle while delivering on the brand's promise of "Indulgence Without Compromise." The company aims to offer high-quality, affordable meal options that cater to various dietary preferences. In addition to its proprietary Happi Foodi label, the company has expanded its portfolio through partnerships and brand-building initiatives. For example, Happi Foodi has a partnership with Barstool Sports' One Bite Pizza, further diversifying its product offerings.
Happi Foodi's products are available in retail stores, with the company mentioning that its items can be found at Walmart. The company's focus on convenience, affordability, and health-conscious options suggests that it caters to a broad range of consumers looking for quick and nutritious meal solutions.
Key customers and partnerships
Happi Foodi has established partnerships with various organizations to support its mission and expand its reach. In December 2020, the company announced a year-long partnership with professional golfer Danielle Kang, pledging to donate USD 100,000 worth of meals to local food banks of Kang's choosing. The first donation benefited Three Square Food Bank in Southern Nevada.
In March 2022, Maruha Nichiro Corporation, a major Japanese seafood producer and distributor, invested in Happi Foodi. This investment was based on Maruha Nichiro's strategy to form a capital and business alliance with an experienced partner in frozen food manufacturing and sales in North America.

Happi Foodi

Saffron Road is a leading American food company specializing in world cuisine frozen entrees, shelf-stable meals, simmer sauces, and snacks. Founded in 2009 in Stamford, Connecticut, the company has positioned itself as a provider of premium, better-for-you halal food products. Saffron Road's offerings are inspired by global cuisines, including Indian, Thai, Mexican, and Middle Eastern flavors. The company's products are available in over 25,000 stores across the US, including major retailers such as Walmart, Kroger, Whole Foods Market, Target, Publix, and Wegmans.
Saffron Road prides itself on using high-quality, ethically sourced ingredients in its products. All of its offerings are halal-certified, and most are also gluten-free and Non-GMO Project Verified. The company never uses antibiotics, artificial ingredients, GMOs, or protein isolates in its products. Saffron Road's commitment to quality extends to its meat sourcing, using only 100% vegetarian-fed and humanely raised animals.
The company has experienced significant growth since its inception. As of July 2023, Saffron Road's annual sales were approaching USD 65 million. Its product line has expanded to include over 50 items, ranging from frozen entrees and shelf-stable meal pouches to simmer sauces and organic crunchy chickpea snacks. Some of Saffron Road's most popular frozen entrees include Chicken Tikka Masala, Chicken Pad Thai, and Chicken Biryani.
Saffron Road has also been innovative in its approach to sustainability. The company uses pouches instead of glass containers for its simmer sauces, reducing energy use in transportation by over 30% and decreasing its overall carbon footprint by 70%.
Key customers and partnerships
Saffron Road has established strong partnerships with major retailers across the US. The company's products are sold in over 25,000 stores nationwide, including Walmart, Kroger, Whole Foods Market, Target, Publix, Wegmans, and Costco.
Whole Foods Market played a crucial role in Saffron Road's early success, being the first national retailer to carry the brand in 2010. This partnership helped Saffron Road reach a broader audience beyond the Muslim community, appealing to health-conscious consumers and those interested in global cuisines.
In June 2023, Saffron Road expanded its retail presence by launching its products in 2,700 Walmart stores, further solidifying its position in the mainstream market. The company has also partnered with Amazon to offer direct-to-consumer sales through its website.

Saffron Road

Creating snack products optimized for air fryers, ensuring even cooking and maintaining taste and texture when air-fried

Enhancing snack texture to achieve a satisfying, crunchy bite, elevating the sensory appeal of snacking experiences

Frozen meals that preserve fresh-like quality, maintaining taste and texture as if freshly made

Fully cooked meals or meal kits that are quick and easy to prepare, reducing preparation time and effort

Fully cooked meals that require no refrigeration and can be easily prepared by microwaving

Companies in this hub deals with providing meals that align with specific dietary requirements/preferences of customers

Barnana

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