Sweden-based foodtech company, edible protection keeps fruits & veggies fresh longer, Saveggy raised EUR 1.76 million in funding. The round took place on April 15 2024. Impact investor Unconventional Ventures, together with LRF Ventures, Almi Invest GreenTech and industry angels, joined in the funding.
What the company’s official has to add
Co-founder and CEO Arash Fayyazi said, “We are very pleased to have gathered a team of impact investors who share our mission to help the world waste less. We believe that freshness, the health of our planet, and the well-being of people should always remain uncompromised. With this financing round, we will launch our first product on an industrial scale.”
What the investors have to comment
Thea Messel, General Partner at Unconventional Ventures, further said, “Our investment in Saveggy was driven by the impressive credentials and substantial expertise of its founders. Their innovative technology tackles the significant challenges our food systems face. We were particularly impressed by the founders’ perseverance, having refined their formula multiple times to meet the highest standards. This unwavering commitment to innovation and sustainability aligns perfectly with our mission as impact investors and made our decision to partner with them clear. ”
In addition, Martin Alexandersson, Investment Director at LRF Ventures, said, “We are excited and proud to support the team at Saveggy and their innovation in reducing food waste, advancing sustainable agriculture, and proactively complying with upcoming plastic waste regulations. Leveraging the resources of The Federation of Swedish Farmers – LRF, with a robust membership of 130,000 farmers and extensive network within the food system, we are dedicated to supporting Saveggy, driving significant impact.”
Besides, Karin Edström, Investment Manager at Almi Invest GreenTech, said, “When we invested in Saveggy two years ago, we could see the huge sustainability and business potential, based on the scalable innovation tapping into the existing value chain. After spending 24 months finalising the platform technology, fine-tuning the first product for cucumbers, and building relationships with stakeholders in the value chain, this strong founder team is now ready to commercialise. I’m therefore very happy to welcome these relevant and committed co-owners to support Saveggy in this next important phase.”
About the company
Saveggy, a company founded in 2020, has created an edible covering that increases the fresh fruit and vegetables shelf life. They address the 45% of fruit and vegetables that are now wasted worldwide, which is one of the primary drivers of climate change throughout the supply chain.
The company’s co-founders, CEO Arash Fayyazi and Chief Innovation Officer Vahid Sohrabpour have backgrounds in applied physics, processing, and logistics, respectively, and a wealth of experience in the packaging sector.
Its founders claim that Saveggy®, their platform technology, is the only alternative to plastic packaging that can match its effectiveness in extending shelf life. Similar to that, for fruits and vegetables like cucumber that have edible peels, it is currently the only edible substitute that conforms with EU requirements.
To explore more such startups, visit Zefyron Startup Database
For more extensive analysis and Market Intelligence reports, feel free to approach us.
We try our best to fact-check and bring well-researched as well as non-plagiarized content to you. Please let us know
if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover
–what information you are looking for in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
