Saveggy, a Lund-based foodtech startup, has raised €1.76 million in funding from investors like Unconventional Ventures, LRF Ventures, Almi Invest GreenTech, and industry angels. They’ve created an innovative edible coating for fruits and vegetables that prolongs their shelf life, addressing the significant issue of food waste. With this funding, Saveggy aims to scale up its operations, bringing its first product to market on a larger scale. This investment will help them further their mission of reducing food waste and promoting sustainability in agriculture.
Saveggy is a food-tech startup founded in 2020 with a mission to reduce food waste and promote sustainability in the food industry. They have developed a bio-based, vegan, and edible coating for fresh fruits and vegetables, extending their shelf life without the need for traditional plastic packaging. By applying this innovative technology, Saveggy aims to make a positive impact on the environment and create a more sustainable future for food production and consumption. The company is driven by a dedicated team of entrepreneurs, food experts, and bio-tech engineers who are committed to revolutionizing the way fruits and vegetables are handled and stored.
“We are very pleased to have gathered a team of impact investors who share our mission to Help the world waste less. We believe that freshness, the health of our planet, and the well-being of people should always remain uncompromised. With this financing round we will launch at industrial scale our first product,” said co-founder and CEO Arash Fayyazi.
“Our investment in Saveggy was driven by the impressive credentials and substantial expertise of its founders. Their innovative technology tackles the significant challenges our food systems face. We were particularly impressed by the founders’ perseverance, having refined their formula multiple times to meet the highest standards. This unwavering commitment to innovation and sustainability aligns perfectly with our mission as impact investors and made our decision to partner with them clear,” explained Thea Messel, General Partner at Unconventional Ventures.
“We are excited and proud to support the team at Saveggy and their innovation in reducing food waste, advancing sustainable agriculture, and proactively complying with upcoming plastic waste regulations. Leveraging the resources of The Federation of Swedish Farmers – LRF, with a robust membership of 130,000 farmers and extensive network within the food system, we are dedicated to supporting Saveggy, driving significant impact,” added Martin Alexandersson, Investment Director at LRF Ventures.
“When we invested in Saveggy two years ago, we could see the huge sustainability and business potential, based on the scalable innovation tapping into the existing value chain. After spending 24 months finalising the platform technology, fine-tuning the first product for cucumbers, and building relationships with stakeholders in the value chain, this strong founder team is now ready to commercialise. I’m therefore very happy to welcome these relevant and committed co-owners to support Saveggy in this next important phase,” commented Karin Edström, Investment Manager at Almi Invest GreenTech.
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Read the orginal article: https://arcticstartup.com/saveggy-raises-e1-76m/
