Whywaste closes an investment round of SEK 9 million.

Sweden 08 August 2018

Whywaste, a Gothenburg, Sweden-based company providing a SAAS solution for helping retailers decrease the food waste, secured SEK 9M ($1M) in capital investment.

The money comes from Swedish investor Norrsken Foundation and existing backers Henric Wiklund and Fabian Hielte and will be used to fuel the company's ambitions to make its service available outside Sweden.

Whywaste, founded in in 2013 by Christopher Hagstedt, Martin Gradal and Sebastian Höglin Thorden, developed a software solution that provides local food retailers with intelligence regarding their products close to expiration.

The company employs ten people based in Gothenburg and Stockholm, and works with 150 stores from Swedish retail chains such as Coop, Ica, Hemköp and Citygross.

In 2017, Whywaste had sales of almost SEK 1.5M. Prior to this deal, in 2017, the company raised money from Swedish private investors, including Filip Engelbert and Jonas Nordlander.

Total investments received (USD): 1M