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Thursday 12 July 2018

Backers share $6m for Olio's waste food-share platform

logoSometimes it's the simplest ideas that are the best – and in this case, also incredibly socially worthy. Pretty accurately described as the "food waste heroes programme", London-based startup Olio makes excess food, such as from restaurants, supermarkets and events but also including households, available for distribution in local communities by volunteers.

Founders Yorkshire-born Tessa Cook and Saasha Celestial-One ('daughter of Iowa hippy entrepreneurs', as she explains on their website) launched the platform in just five postcodes in North London almost exactly three years ago to the day, since when over 400,000 items of food have been distributed by more than 17,000 volunteers across 41 countries.

Olio recently closed a $6m Series A funding round, led by Octopus Ventures, with existing investors including Accel, Quadia and others also participating, and new investors Silvergate Investments 2, Bran Investments, and others joining in.

A fantastic achievement from every aspect.

Posted by Anthony Miller at '07:58' - Tagged: funding   startup  

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