Europe

Urban and local needs, Social Care

• Founded in 2015
• Total funding: Over $50 million, including $43m Series B (September 2021)
• Revenue growth from 2020 to 2021: 200%
• Investors include Octopus Ventures, VNV Global, Accel
• HQ in London
• 70 FTEs
• Key clients/partners: Tesco, Compass Catering, Pret A Manger, Selfridges

Globally, approximately a third of food produced is never eaten. A significant portion (40-50%) of food waste happens at home. In the US, the average family of four throws away upwards of $1,600 (£1,200) of food annually. That figure is £730 in the UK. Meanwhile, 1 in 9 people around the world are starving or malnourished. Food waste is also detrimental to the environment.

OLIO has developed an app that enables households and local businesses to reduce their food waste by giving it away instead of throwing it away. Users with food to spare can take a picture of their items and set a pickup location. Users seeking food can browse listings and request items. The two parties then agree on a place and time to meet, and the food is shared. Additionally, the 40,000 volunteers in OLIO’s Food Waste Heroes programme save food from local shops, including 2,700 Tesco stores across the UK.

OLIO plans to rapidly accelerate the roll out of its Food Waste Heroes Programme with supermarkets, quick service restaurants, contract caterers, and quick commerce companies; as well as grow its international presence.

Local councils that are looking to reduce food waste. Consumers and businesses that are interested in sharing food and making more environmentally-friendly choices.