“An astounding amount of produce is wasted today in the United States, but the intuitive and beautifully designed Full Harvest online marketplace is starting to change this dynamic and is already delivering dramatic business benefits for its customers,” said Spark Capital investor John Melas-Kyriazi. “By aggregating excess produce supply at scale and providing a superior user experience to growers and food buyers via software, Full Harvest is shifting the way the industry thinks about how produce is bought and sold.”
While the food industry struggles to meet increasing global production demands, more food reaches U.S. landfills and incinerators than any other waste, according to the EPA, including the 20 billion pounds of produce that goes to waste each year due to surplus or cosmetic reasons.
Full Harvest says it will use its new funding to achieve its mission of eradicating food waste at the farm level by further scaling its technology platform, expanding its U.S. footprint and tripling the size of its technology, sales and operations teams.
A business-to-business marketplace for the end-to-end purchase, sale and logistics of surplus and imperfectly shaped produce, Full Harvest has helped large farms sell and deliver almost seven million pounds of produce. That seven million pounds no longer bound for landfills not only drives revenue for farmers and savings for food and beverage companies, but also equals the conservation of enough drinking water for seven million people for an entire year and the prevention of 2.5M KG of CO2E emissions.
Working with a wide range of major national food and beverage companies, Full Harvest says it has demonstrated significant food waste reductions. Early successes include increasing profit for a large U.S. farm by 12 percent per acre, reducing the time it took a national consumer packaged goods (CPG) company to procure produce by 96 percent, and saving CPG companies an average of 15 percent off produce costs. By driving more sustainable food production and cost-effective organics, Full Harvest also aims to make healthy food and beverage options more affordable for consumers.
“We need to move beyond the archaic nature of buying and selling produce to get the most from each harvest and make sure no food goes to waste. Our marketplace will drive a waste-free future on produce farms that benefits growers, food and beverage companies, and consumers,” said Christine Moseley, founder and CEO of Full Harvest. “Using this investment to expand nationally and rollout new platform capabilities and produce offerings, Full Harvest will get more produce directly from farms to food and beverage producers—faster, fresher, more affordably and with advanced traceability.”