Northzone is a multi-stage venture capital fund that seeks to invest in the healthcare, semiconductors, software, hardware, artificial intelligence, blockchain, and gaming industries.

Northzone

SEB Private Equity is a Swedish finance company offering corporate customers advisory services and products.

SEB Private Equity

LeadX invests in market-leading European B2B companies providing innovative digital solutions to consumer-facing companies. We leverage our specialist expertise and industry networks in the consumer and technology sectors to add value above and beyond pure capital to the entrepreneurs that we back. These resources enable our partners to scale faster and more efficiently. We partner with innovative entrepreneurs digitising the consumer industries. We target European mature businesses generating over €10 m in revenues and are growing at over 30% CAGR. Our vertical focus on consumer industries and strong industry knowledge and networks allow us to support companies effectively and position ourselves as preferred partner to work with.

LeadX Capital Partners

Ingka Group (Ingka Holding B.V. and its controlled entities) is one of 11 different groups of companies that own and operate IKEA sales channels under franchise agreements with Inter IKEA Systems B.V. Ingka Group has three business areas: IKEA Retail, Ingka Investments, and Ingka Centres. It is the world’s largest home furnishing retailer operating 367 IKEA stores in 30 markets. These IKEA stores had 838 million visits during FY18 and 2.35 billion visits to www.ikea.com. Ingka Group operates the business under the IKEA vision to create a better everyday life for many people by offering a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them.

Ingka Group

Novax is part of Axel Johnson, a family business founded in 1873 and now run by the fourth and fifth generations. With trade as a starting point, the Group has changed shape and form over the years. On the other hand, the will and drive to change in combination with developing long-term profitable business has been intact.

Novax

Norrsken Foundation is non-profit organization solving problems such as poverty, famine, environmental issues and mental health.

Norrsken Foundation

Gullspång Re:food makes enduring investments in entrepreneurs solving the food system’s structural problems for generations to come.

Gullspång Re:food

Blume Equity is a climate-tech growth equity firm investing in companies driving sustainable outcomes for planet and people. We back outstanding founders and teams who share our conviction that value creation and purpose go hand-in-hand.    We provide both financial and human capital to support pioneering companies that are solving the climate emergency scale profitably, with positive impact.

Blume Equity

SevenVentures is a leading TV media investor. As the investment arm of the ProSiebenSat.1 Group, they are the ideal partner for B2C growth companies, especially in the consumer goods, retail and service sectors that have the potential to achieve sustainable success through the use of TV advertising. Cases such as Zalando, AboutYou, flaconi and in the current portfolio Grover, refurbed, KoRo and TiNDLE illustrate how companies can benefit from their media power and become strong brands in their respective market segment within a short period of time. The combination of media power and operational know-how make SevenVentures the premier partner for growth through target-group-related and far-reaching TV and digital campaigns.

SevenVentures

Circularity Capital is a specialist private equity firm investing in European growth SMEs operating in the circular economy. The company uses the circular economy as a framework to support investee businesses decouple their growth from resource constraints, enhance resource productivity and drive competitive advantage. The team has specific expertise and a powerful network in the circular economy which we use to identify, source and secure proprietary investment opportunities and add value to portfolio businesses through access to talent, market information and new business development opportunities. The company's investors include financial institutions, global corporations and leading family offices. At the heart of Circularity’s ability to create value for investors is its focus on combining specialist expertise in the circular economy with institutional quality private equity experience.

Circularity Capital

Matsmart

Matsmart sells surplus food online. A significant part of the food would otherwise be thrown away due to packaging changes, short or expired expiry dates, or other reasons. In 2017, Matsmart saved 2022 tonnes of food from going to waste. The company has seen explosive growth, reaching recurring revenues of SEK 200 million. Matsmart was founded by Karl Andersson, Erik Södergren and Ulf Skagerström, and launched in Sweden in 2014. Since then, the company has also expanded to Norway and Finland.

<div>Based in Sweden, MatSmart is an online marketplace that sells surplus production from producers including Unilever, Nestlé and Mondelēz Sverige AB to consumers at reduced prices. The company was officially launched in Sweden in 2014 and expanded to Finland and Germany in 2017 and 2020, respectively. The company also operates under the brand name 'Matatos' which it unveiled upon launching services in Denmark in 2019. In November 2021, the company revealed plans to expand in Europe aiming to become a global platform. Moreover, it aims to build a new fully automated warehouse in Orebro, Sweden to ease distribution across Sweden, Finland, and Denmark.</div>

Tech solutions for achieving global anti-wastage targets

Food Waste

MatSmart

Matsmart-Motatos' consolidated results in 2023: Turnover of over 1 billion SEK with improved cash flow

Element Logic

To expand warehouse capacity and improve efficiency, Matsmart, an eGrocery business, is partnering with a new automated warehouse powered by solar panels and featuring an AutoStore system from Element Logic.

AI, robotics, and IoT to streamline the flow of goods and information

Logistics Tech

Companies developing automation technology for warehouses like robots (including inventory drones), cobots, automated storage and retrieval systems (ASRS), and related software.

<div>
 
 Based in Sweden, MatSmart is an online marketplace that sells surplus production from producers including Unilever, Nestlé and Mondelēz Sverige AB to consumers at reduced prices. The company was officially launched in Sweden in 2014 and expanded to Finland and Germany in 2017 and 2020, respectively. The company also operates under the brand name 'Matatos' which it unveiled upon launching services in Denmark in 2019. In November 2021, the company revealed plans to expand in Europe aiming to become a global platform. Moreover, it aims to build a new fully automated warehouse in Orebro, Sweden to ease distribution across Sweden, Finland, and Denmark.
 
 
 Reports in 2016 claimed that Matsmart generated revenue of EUR 20 million, which had grown to over EUR 400 million by 2020, implying around 111% CAGR over 2016–2020.
 
 
 In November 2021, Matsmart raised EUR 24 million (approximately USD 27.7 million) in a capital funding round led by Blume Equity. The new funds were to be used to expand the company's presence in a new market by 2022. The company raised EUR 38 million (~USD 37.9 million) in Series D funding for Motatos in 
 <a href="https://sp-edge.com/updates/12808">
 September 2022
 </a>
 , led by SEB Private Equity and Exor Capital, to support international growth. This funding round increased the company’s valuation to over EUR 300 million (~USD 199.4 million), which is reportedly a 30% increase in valuation since the funding round in November 2021.
 
</div>

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

MatSmart

About EDGE

Contact Us

Resources

Area of Focus

Technology Research Made Effortless