FoodMaven is a Denver-based startup that tackles the food waste problem. In a recent Series B funding round, the young company raised $15.3M. One of the investors was Fine Line, the single family office of Sasha and Edward “Ed” Bass. Fine Line is part of our list of the largest American single family offices.
Discounted oversupplied and imperfect food
Food Maven was founded in 2015. The company is a for-profit impact venture: the company sells oversupplied and odd looking food which would have thrown away. Therefore, the company works together with distributers, manufacturers and restaurants. FoodMaven distributes the food to restaurants, markets and retailers. According to the Denver-based startup, for every 100 Lbs of purchased food, 15 meals are donated, revenue is generated for local suppliers, CO2 emissions are avoided and 40 pounds of food are saved from the landfill. So far, the company is active in Texas and Colorado.
Notable investors
The recent $15.3M Series B funding round will be used to expand to new markets. The round is led by Tao Capital, an investment firm co-founded by Nicholas J. Pritzker. Another interesting investor is the Fine Line Group, the single family office of Ed Bass and Sasha Bass, which is also listed in our list of single family offices in Texas. Bass is an American billionaire with an estimated net worth of $2.1BN. Bass is an American businessmen and philantropist, who is concerned about environmental protection.
Sources
Ella Olsson, 11.12.2019
Finsmes, 11.12.2019
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Last Updated on October 8, 2021
