OneThird raised €1.5M in a capital investment round backed by SHIFT Invest and Oost NL.
OneThird, an Enschede, the Netherlands-based develper of tech solutions used by grocery retailers to minimize food waste, announced that it raised €1.5M ($1.8M) in a fresh round of funding.
The proceeds from this round will be used to accelerate the development of OneThird’s “fresh produce quality prediction platform” and expand pilots with retail customers.
OneThird, founded in 2019 in a digital incubation hub for Halma, and spunoff by Carly Burleson and CEO Marco Snikkers, developed a combined technology solution used by growers, distributors, and retailers for reducing waste in the food supply chain, allow ingfor high-accuracy shelf-life prediction of produce at any stage of the supply chain.
They developed optical sensors attached to a smartphone in order to ‘look’ inside fruit and vegetables and analyse their content. Based on key parameters like sugar levels, water content and other taste factors, the software tool accurately predicts days until spoilage in real-time - on top of that, the OneThird platform analyses trends, helping retailers optimise operations across their supply chain.