Food startup Too Good to Go successfully completes financing round

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The food-sharing startup Too Good to Go has successfully completed a financing round of US $ 31.1 million. The money is to be used to advance the advance on the US market.

There are many startups in the food sector; They work on innovative smoothies, vegan meat substitutes or beef grown in the laboratory, deal with vertical farming or rely on products containing cannabidiol. Too Good to Go takes a slightly different approach and wants to save existing food that would otherwise have to be thrown away. The concept met with approval.

Too Good to Go raises $ 31.1 million

Too good to go has now successfully completed a financing round, raising a total of $ 31.1 million. Of this, $ 15.4 million comes from the venture capital fund Blisce, which invests in startups that have a clear mission and are active in the consumer sector. It is the first time that a VC has invested in the startup. In addition to private individuals, the previous investors also include company employees.

Too Good to Go wants to use the fresh capital primarily to penetrate further into the US market. The startup in New York City and Boston only started in September. The company also felt the effects of the corona pandemic, admitted “Too Good to Go” CEO Mette Lykke Techcrunch in September – revenue fell by 62 percent – but that doesn’t seem to worry investors.

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What is Too Good to Go?

The principle of Too Good to Go is essentially based on an app that users can use to save leftover food. Hotels, bakeries, restaurants and other businesses that work with perishable goods can put together so-called surprise bags and offer them at a greatly reduced price in the app. If you are interested, you can secure a bag, pay via PayPal and collect the groceries from the store.

Too Good to Go, for example, has already saved more than 6.1 million servings of food with over 4.5 million people in Germany. More than 30 million people worldwide are expected to take part.

By the way, we have put together other apps and ideas for a more sustainable everyday life.

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