7 years ago

Olio Raises $6 Million to Fight Food Waste with Hyperlocal Sharing App

  • Olio, a UK-based food sharing app aiming to reduce food waste, has raised $6 million in Series A funding led by Octopus Ventures

  • Olio allows users to share unwanted food with their neighbors and helps businesses reduce waste by connecting them with volunteers to collect and distribute surplus food

  • The funding will be used to expand Olio's operations and develop new features

  • The company is also exploring a premium subscription model and opportunities for hyperlocal advertising.

      • ProblemTechnology

      "Food waste is a major problem, costing over $1 trillion per year, harming the environment, and contributing to food shortages. Existing solutions are not scalable enough to tackle the issue."

      Solution

      "Olio is a hyperlocal food sharing app that allows people to share unwanted food items with their neighbors. The app is designed to reduce food waste in households and businesses, and it also helps alleviate food poverty."

      Covered on