Matsmart adds more capital investment and another strategic backer: IKEA
Matsmart, a Stockholm, Sweden-based company providing discount retailing for non-fresh food, announced securing SEK 100M ($12.4M) in a new investment round that includes the SEK 75M ($8.9M) round announced at the end of 2017.
According to the company, IKEA's investment in Matsmart is aligned to its objective to reduce its own food waste, with 90% of all food waste to be recycled or converted into a resource like biogas.
Matsmart, founded in 2014 and led by CEO Karl Andersson, is a food online retailer which aggregates and sells all different types of surplus goods at an up to 90% discount, with delivery throughout Sweden from a central warehouse in Katrineholm.
In 2017, Matsmart estimates a turnover of over SEK 200M ($25M).