Malmö-based foodtech startup Mylla has secured investment from Swedish VC BackingMinds and tech entrepreneur Anders Frankel to support its national expansion and potentially a European rollout in the future. Mylla’s farm-to-table platform connects local food producers directly with consumers and restaurants, reducing the number of intermediaries in the food supply chain. This approach aims to address challenges faced by food producers in Europe, such as inflation and unfavorable weather conditions while providing consumers with transparent and affordable access to quality produce. The investment aligns with the growing interest in a more transparent and local food chain, and Mylla’s mission is to disrupt traditional food retail models with its digital marketplace for food distribution.
“We are convinced that Mylla will play a key role in meeting the growing group of conscious consumers, promoting local small producers and increasing the degree of self-sufficiency in Sweden and the rest of Europe,” says Susanne Najafi, Founding Partner, BackingMinds.
Inflation, rampant energy costs and unfavourable weather conditions have made it more difficult for food producers all over Europe. Meanwhile, the grocery trade has received sharp criticism for exploiting the situation to its advantage. The Swedish-based startup, Mylla, wants to challenge the grocery trade with its farm-to-table platform that connects Swedish food producers directly with consumers and restaurants.
For farmers and smaller food producers who choose to invest in quality and the promotion of biodiversity, it is difficult to reach the shelves in European grocery stores. At the same time, Swedish phenomena such as the REKO ring, testify that consumers are willing to buy directly from the farmers.
The founders of Mylla, the farmer Jens Thulin, and the tech veteran, Andreas Arledal, are building a food chain with fewer links and middlemen. This enables a larger part of the share to go to the producer while keeping the price down for the end consumer.
“By offering a transparent and efficient distribution solution, Mylla helps domestic producers get more customers and increased margins and make it easier for consumers to make informed food choices. I value having Backing Minds on this journey based on their competence in technology and focus on sustainable business models,” says Jens Thulin, CEO and founder, Mylla.
BackingMinds, Swedish VC founded by Sara Wimmercranz and Susanne Najafi, has for some time been looking for an investment in so-called “farm-to-table” technology that connects local producers’ fresh produce directly with consumers.
“Driven by consumers’ growing interest in organically produced food, legislation promoting traceability and biodiversity, and producers seeking scalable and automated distribution, we at BackingMinds have for some time been looking for an investment in a technology platform where local producers can reach out with their fresh produce directly to the consumer,” says Susanne Najafi, Founding Partner, BackingMinds.
There is interest in a more transparent and local food chain among food producers as well as companies and consumers.
“In the future ecosystem of food and agriculture, digitization and technology enable producer and consumer power and likewise our national food security, which is at a record low. A development that we see that Mylla with Jens Thulin and Andreas Arledal at the helm can lead,” says Sara Wimmercranz, Founding Partner, BackingMinds.
Click to read more funding news.
