Oddbox in a £16 million deal backed by Burda.

Oddbox, a London, UK-based operator of a sustainable food waste reduction platform, announced completing a £16 million transaction deal.

The deal represents a primary and secondary investment made by BurdaPrincipal Investments, the growth capital arm of media and tech company Hubert Burda Media. Burda joins existing investors Mercia Asset Management and Seedrs.

The proceeds will be used to enhance the customer experience, expand its UK footprint and increase share options for employees.

Oddbox, founded in 2016 by wife and husband team Emilie Vanpoperinghe and Deepak Ravindran, developed an ecommerce service delivering fresh fruit and vegetable boxes with produce rescued directly from farms which is at risk of going to waste to sustainably conscious consumers via a weekly subscription, alongside tailored recipes and data analysis highlighting a personalised measurable positive impact on the planet. It delivers its boxes directly from the growers to people’s doorsteps across London, the South and the Midlands.

Oddbox previously raised a £3 million funding round in March 2020 and raised funding via Seedrs in 2018.