Full Harvest, a US-based B2B platform that sells irregular and surplus produce, has raised USD 23 million in a Series B funding round led by TELUS Ventures. New investors Rethink Impact, Citi Impact, Doon Capital, Stardust Equity, and existing investors Spark Capital, Cultivian Sandbox, and Astia Fund also joined the round. 

Following the funding, Jay Crone (investment director, TELUS) is expected to join Full Harvest’s board of directors. 

The fresh funds will be funneled toward developing its technology and growing its team by 3x in 2022 as well as expanding operations in North America. The company also plans to improve the user experience of its online marketplace and further expand its data analytics offering to provide insights on product availability, pricing, quality, and forecasting. Funds are to be also used to expand the global footprint of Full Harvest’s “Verified Rescue Produce” system (a third-party certification system that allows food and beverage companies to identify products that are rescued and would have otherwise gone to waste). 

Full Harvest also reported that it has tripled its revenue from 2020 to 2021, selling over 50 million pounds of fresh produce to date. The company’s key customers include Danone North America, SVZ, and Tanimura & Antle.