According to Sustainable Development Goals Index 4 Nordic countries – Sweden, Denmark, Finland and Norway take the first 4 seats among all countries in the world in health, well-being and environmental sustainability! Here in the Nordics sustainability is the way of living and also a megatrend when it comes to local businesses.
Meet Matsmart, a startup from Sweden that helps Nordic countries to remain the most sustainable countries in the world by cutting down the food waste.
Matsmart buys and sells food and other products that would have otherwise ended up in the trash. This can be due to the best before date approaching, small defects in packaging or other tiny details that might prevent grocery stores from putting products on the shelves. Karl Andersson, Matsmart CEO told us that the best before date is only the producer’s promise that the product keeps the same quality as when it was packaged. That means that nothing is going to happen with your unopened bottle of water just because the best before date has passed.
Last year Matsmart was able to save 708 tons of food from being wasted, offering products with 20-90% less than in stores, and delivering to everywhere in Sweden, Norway and Finland. By now, it is the only player in the market that can offer producers a chance to reach out to three countries at the same time. The company turnover for the next 12 months is projected to reach €17M. That is a pretty good number considering Matsmart plans to expand to new markets in the near future, and with the new funding of €7.5 million lead by Northzone the company has all means to do it.
“With this new funding, we will continue to focus on growth. There is still a lot of work to do to solve the issue of food waste, and we see strong interest from both consumers and suppliers. We will also be looking at new markets for further international expansion,” commented Andersson on the funding announcement.
We support startups that are dealing with such issues as food waste but the question is what is going to happen if someone actually gets ill because of the wrong best before date. Hopefully, Matsmart team is ready for that.