Electrolux splashes cash to invest in innovative food waste start-up

Electrolux has invested in a Swedish start-up that helps restaurants and supermarkets reduce food waste by selling unsold food to consumers.

The investment is part of a wider $12m (£9m) round with other investors, including investment firm Kinnevik, US venture capital outfit Bessemer and global venture capital specialist e.ventures.

Since its launch two years ago, Karma has expanded to help over 1,500 restaurants, supermarkets, hotels, cafes and bakeries reduce food waste by selling their surplus to 350,000 Karma users.

The tie-up will also see Electrolux and Karma initiate a strategic partnership to explore common solutions in reducing food waste.

The partnership will combine Electrolux expertise within appliances and food preservation with Karma’s digital platform and expertise within the sharing economy.

”We are committed to drive a positive change and we know that the best way to do this is by working together with others who share our ambition. Electrolux is continuously exploring solutions that drive a better and more sustainable living and we’re excited to support Karma”, said Jonas Samuelson, president and CEO of Electrolux.

Reducing food waste is an important target in Electrolux sustainability framework with the goal to inspire better food consumption among consumers and professionals.

“As a world leader in appliances, Electrolux is working closely with Karma to help alleviate the global problem of food waste. We’re impressed with Karma’s innovative digital business model particularly as everyone wins: both the food seller and buyer but importantly also the environment,” said Marty Carroll, vice president digital marketing at Electrolux.

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