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Apeel Sciences teardown: Digging into the highest funded startup combating food waste

With food waste continuing to grow on a global scale, consumers are becoming increasingly concerned with ways to reduce and prevent it. Both the United Nations and the US Government have also set an ambitious goal to halve food waste levels by 2030. It is in this backdrop that a wave of new startups have been developing food waste reduction solutions, along with rising interest and high investor activity in this industry, especially during the last year. To put it into perspective, the 69 food waste startups we are tracking raised a total of USD 1.5 billion in 2021, which is higher than the total funds received in the previous six years combined.
Apeel Sciences is a leading company within the space, attracting the most funding and reaching a valuation of USD 2 billion. Apeel Sciences has no direct competitors in terms of funding or accumulating customers. However, though the company appears to have captured the market with an early start, a challenge is still possible in terms of cost, provided new startups are able to develop equally promising solutions. 
Let’s tuck into Apeel Sciences, its business, technology, competitive position, strategies, performance, future plans, and more.

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