Toronto-based Flashfood, a cellular market that gives clients with entry to discounted meals nearing its best-by date, has raised $12.3 million in Collection A funding led by S2G Ventures. The app permits customers to flick thru out there offers at collaborating shops close to them. Clients can even buy objects instantly within the app after which decide up their order from the Flashfood zone of their collaborating retailer.
The app was based primarily based on Flashfood CEO Josh Domingues’s private expertise in 2016. His sister who was a chef referred to as him one night time distraught saying that she needed to throw away $4,000 price of meals. Domingues thought it was a joke however was shocked to study that the meals was from a catered occasion and that throwing out uneaten meals was the norm within the meals and grocery industries. After months of researching, Domingues thought of creating an app that permits you to purchase meals nearing its greatest earlier than date at a reduced value, after which Flashfood was born.
Based in March 2016, Flashfood has quite a few grocery companions throughout Canada and america, together with Large, Loblaw, Large Eagle, Tops, Household Fare, Cease & Store, Tops, Worth Ceremony Market and extra. Flashfood says it has saved consumers over $100 million on their grocery payments and that common consumers save greater than $540 per 12 months on common via the app. The corporate additionally says it has diverted greater than 34 million kilos of meals from landfills.
As for the brand new funding, Flashfood CEO Josh Domingues says the funding might be used to help the corporate’s continued enlargement in america and permit it to work towards a extra sustainable meals system.
“The funding might be used to increase our U.S. presence to supply extra consumers discounted grocery objects that might in any other case find yourself in landfills,” Domingues informed TechCrunch. “Along with increasing Flashfood’s footprint via new grocers and different strategic partnerships, we’re additionally investing in our know-how to make Flashfood accessible to a broader base of customers.”
Flashfood’s Collection A funding included participation from ArcTern Ventures, Common Catalyst, Meals Retail Ventures, Rob Gierkink and Alex Moorhead. S2G Ventures managing director and founding father of OpenTable, Chuck Templeton, may even be becoming a member of Flashfood’s board of administrators.
When it comes to the long run, Domingues says Flashfood will proceed to increase its present partnerships in additional places and that the corporate could have extra to announce within the coming months.
“We’re at the moment centered on scaling throughout the US, increasing our present partnerships into extra places and including new companions to make Flashfood out there from coast to coast,” he mentioned. “As we do this, we’re exploring alternatives to additional our impression throughout the provision chain and could have some thrilling information round that within the coming months. We all know that retail meals waste is a worldwide difficulty and the class potential is as staggering as the scale of the issue. Options are urgently wanted and in the end, we’re constructing an organization to resolve the retail meals waste drawback at a worldwide scale.”
The app is at the moment out there in Ontario, Quebec, Manitoba, British Columbia, Nova Scotia, Prince Edward Island, New Brunswick, Saskatchewan, Alberta and Newfoundland. As for america, the app is obtainable in Kentucky, Nebraska, Indiana, Iowa, Wisconsin, Illinois, Florida, Michigan, Ohio, West Virginia, Virginia, Maryland, Pennsylvania, Delaware, New York, Massachusetts and Rhode Island. The app might be downloaded via the Apple App Retailer and the Google Play Retailer.