Matsmart adds more capital investment and another strategic backer: IKEA

Sweden Investments 23 January 2018
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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.

The money comes from new and existing investors, including a strategic investor, IKEA, as well as Northzone, GP Bullhound, Edastra and Inbox Capital and a number of business angels.

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 2013 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).