Copenhagen, Denmark-based Too Good to Go announced today it has raised €25.7 million (~$31 million) to expand its surplus food marketplace that fights food waste. The investment was led by /blisce, with participation from existing investors and employees.
Too Good to Go’s main mission is fighting food waste. The company partners with hotels, restaurants, supermarkets, and other businesses that have surplus food items at the end of each day. Those businesses can list food on Too Good to Go’s B2C marketplace at discounted prices. Consumers then simply browse the marketplace via the Too Good to Go app or website, place an order, and retrieve their food from the merchant at a designated time.
Too Good to Go already operates in 15 countries around the world, including several in Europe, including the U.K., Spain, and Italy. The expansion enabled by this new funding will focus mainly on the U.S., where the company has a smaller presence. It launched in New York City and Boston in September 2020, and has since also moved into parts of New Jersey. Specific cities and locations for this latest expansion were not named, though Too Good to Go’s roster of partners includes everyone from local grocers to massive chains like Hilton, Coop, Le Pain Quotidien, Yo! Sushi, and many others.
Surplus food marketplaces are not as prevalent in the U.S. as they are in other countries, despite the fact that the majority of food waste in this country happens at consumer-facing levels. Flashfood, a Canada-based company that offers a similar surplus food business, operates in some parts of the U.S. Karma is another Scandinavia-based surplus food app, but as yet it does not have a presence in the U.S.
All of which is to say, the opportunity is still wide open for Too Good to Go and other companies bringing the surplus food concept Stateside.