Apeel Sciences, recently named WEF Technology Pioneer and CNBC Disruptor 50, today announced $70 million in new financing led by Viking Global Investors with Andreessen Horowitz, Upfront Ventures and S2G Ventures, with participation from others. In addition, Walter Robb, former co-CEO of the Whole Foods Market, will join the Board of Directors of Apeel Sciences and advise the company as it scales to meet U’s demand. Oh, S and international suppliers and retailers of fresh food
“We were looking for partners who saw the long-term vision of Apeel fruit and vegetables in the U. Oh, S And also abroad in countries that do not necessarily have the infrastructure of the cold chain,” said James Rogers, Founder and CEO of Apeel Sciences. “We are honored to have Viking Global Investors and Walter Robb as new partners on our journey to help the fresh food supply chain achieve efficiencies that will help stop food waste and make it possible for better quality food to come onto the market. “Financing comes after Apeel Sciences crossed major marketing milestones in June, when the company introduced Apeel Avocados at the Costco and Harps Food Stores in the U. Oh, S
Since the launch of Apeel avocados at the Harps Food Stores in May, the Harps Food Stores experienced a 65-point increase in margin and a 10% increase in sales across the avocados category-first evidence of a reduction in food waste driving margin and profitability for fresh food suppliers and retailers. The new funding from Apeel Sciences will be leveraged to accelerate the company’s scale-up in response to supplier and retailer demand for programs across the avocado, citrus, berry, stone fruit and asparagus categories. In addition, Apeel plans to expand its team, based on its 105k square foot facility in Santa Barbara, to establish satellite facilities for service partners in U. Oh, S Growth regions and continue to focus on developing new plant-based solutions with a wide range of applications across perishable categories
“A great next generation entrepreneur has come to use food itself to naturally extend the life of food, heralding a new era of opportunity and promise,” said Walter Robb, former co-CEO of the Whole Foods Market. “James and the Apeel Sciences team are wonderful, and I’m really excited to be part of their efforts. “As Apeel’s products continue to hit the shelves, the retail world is now beginning to experience what has been clear from day one, namely that Apeel is a product with the potential to change the world,” said YvesSisteron, Founder and Managing Partner of Upfront Ventures, who first invested in Apeel Sciences.
“We have been constantly impressed by the scientific innovations from James Rogers and the Apeel Sciences team, and we are thrilled to continue supporting them on their mission. “The U” Oh, S The retail food sector generates 8 million tons of waste annually in distribution centers and stores, or $18 billion a year in lost value for retailers. What’s more, Americans throw away more than 4001 pounds of food per person, costing a household of four an average of $1,800 a year.
Apeel is the first2plant-derived solution for extending the shelf life of production, which significantly reduces food waste at the supplier, retailer and consumer level. HOW APEEL WORKSEE Every plant on earth has a skin or skin that protects it. From oranges to apples to tomatoes and raspberries, the materials found in the skins and peels of plants are ubiquitous and are consumed daily in high quantities in human diets. Made of the same materials, Apeel adds a little extra peel to the surface of fresh produce, which naturally strengthens the skin of the plant and slows down the rate of water loss and oxidation, the primary cause of spoilage. Production with Apeel stays fresh two to three times longer, promoting more sustainable growing practices, improved food quality and less food waste from farm to retail shelf to home. For suppliers and retailers, Apeel is the only plant-derived post-harvest solution that creates an optimum microclimate in every part of the product, leading to improved quality, extended shelf life and transportability-without the need for refrigeration, controlled atmosphere or preservatives. See the Apeel FAQ for more information.
AMOUT APEEL SCIENCES
Apeel Sciences is a company that fights the global food waste crisis by using natural waste prevention tools in the first place-a sustainable approach to the growing food demands of the world. The plant-derived technology of the company helps USDA Organic Certified and conventional fresh food growers, suppliers and retailers improve production quality and extend shelf life, minimizing food waste from the farm to the retail shelf in the kitchen. Apeel Sciences was founded in 2012 with a grant from the Bill & Melinda Gates Foundation to help reduce post-harvest food loss in developing countries that lack access to refrigeration infrastructure (i) E: E , cold chains) Today, Apeel formulations have been shown to be effective in reducing the spoilage rate for dozens of USDA Organic Certified and Conventional Product categories, and the company works with partners ranging from smallholder farmers and local organic growers to the world’s largest food brands and retailers.
Founded by CEO James Rogers, PhD, Apeel Sciences partners include Viking Global Investors, Andreessen Horowitz, DBL Partners, Upfront Ventures, S2G Ventures, Powerplant Ventures, The Bill & Melinda Gates Foundation, and The Rockefeller Foundation; The company is recognized as a Friend of Champion 12. 3 and 2018 CNBC Disruptor 50, and recently won the 2018 AgFunder Innovation Award for its plant-based technology Visit the Apeel website for information on the partners of the company and the partnership enquiries ##1 reFED, Retail Food Waste Action Guide, 2018. 2 NRDC, Wasted: How America Loses Up to 40 Percent of its Food from Farm to Fork to Landfill, 2017.
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