Bonapp.eco, a Romanian startup that combats food waste, has raised Euro 800K in a seed funding round led by Up Group (formerly named Chèque-Déjeuner) on 13 January 2022.
Investors: Up Group led the latest funding round with participation from Roca X and Early Game Ventures, and Hungary-based Impact Ventures.
The Objectives behind the funding: The company plans to deploy the current proceeds to increase sales and marketing efforts to expand to more Romanian cities in the coming months, starting with Cluj, Iași and Timisoara, and other countries in Eastern Europe. In addition, the company plans to hire a sales team and city managers in each new city where it launches.
Founded in November 2021 by Diego Lachaise, Zsolt Kadar and Grégoire Vigroux, Bonapp.eco designed a food selling application for retailers to sell surplus food products at a discount before their expiry. Its application connects food suppliers, including grocery stores, restaurants, shops, gas stations, bakeries, coffee shops and hotels, to consumers and allows them to purchase food that is approaching its expiration dates at discounted prices, enabling users to reduce food waste. Ten thousand users have downloaded the application. To date, the company has saved 1,000 meals from being wasted, with an average selling price of 5 EURO.
What the Founder has to say:
Grégoire Vigroux, the co-founder of bonapp.eco, said: “At bonapp.eco, we intend to transform the environmental, economic and social challenges caused by food waste into a sustainable business opportunity to the benefit of everyone. With our mobile app, consumers save up to 80% on food, retailers increase their traffic and revenue, and we all have a positive impact on climate change. We are thrilled to welcome four highly-reputed investors that share our eco-friendly values, as well as our startup mindset. With their support, we are on course to reach our target, which is to affiliate 5,000 locations and sell 30 million meals by 2023.”
What the Investors have to say:
Elena Pap, Regional Director at Up Group, added: “Consumers nowadays are becoming increasingly focused on the small actions they can take to improve the sustainability of their households. As a company focused on supporting Romanians’ daily lives, we are excited to invest in the bonapp.eco team as we are strongly aligned with the company’s responsible consumption mission. We are impressed with bonapp.eco’s innovative digital business model, particularly as everyone wins – the food seller and buyer, but importantly also the environment. Through this investment, we look forward to helping bonapp.eco grow and expand its services nationally, so we can move closer to achieving zero food waste.”
Elemér Eszter, a Managing Partner at Impact Ventures, concluded: “bonapp.eco’s direct and privileged access to the largest food retailers creates a high potential for the acceleration of food waste reduction in the SEE region. By enabling consumers to purchase food that would otherwise be thrown out, bonapp.eco combats emissions while also raising awareness of food waste within society. We are excited to join bonapp.eco on its promising journey and support the scale of its environmental impact.”
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