Hungry Harvest Closes $13.7MM Series A Funding Round
Investment to accelerate growth of sustainability, product roadmap, and social mission
Hungry Harvest, the pioneer in farm to doorstep rescued produce delivery, has announced the closing of a Series A funding round with a total investment of $13.7 million. The funding round was led by Creadev with participation from existing and new investors, including Danone Manifesto Ventures, Quadia and Maywic Select Investments.
“All three new investors bring valued expertise in sustainability, the food industry, and growth of a consumer brand that will help us take Hungry Harvest to the next level in our long-term mission of fighting food waste and food insecurity in the U.S.,” said Evan Lutz, CEO & Founder of Hungry Harvest. “We see this as a huge opportunity to advance our mission with some of the brightest minds in the business and we can’t wait to put our ideas into action.”
Hungry Harvest rescues fresh fruits, vegetables, and grocery staples that would otherwise go to waste due to surplus or arbitrary, cosmetic standards for size, shape or color at retail. Customizable variety boxes are delivered directly to subscribers’ homes using a team of local drivers. Every delivery eliminates food waste, ensures farmers receive a fair wage for their full harvest and supports donations to hunger-solving organizations. Since 2014, Hungry Harvest has reduced over 22 million pounds of food waste and donated or subsidized over 1.5 million pounds of produce to partner organizations and through its own food access programs.
“We are thrilled that the company succeeded in attracting mission-driven and values-based investors that each bring specific expertise and strong long-term support to the strategy,” said Delphine Descamps, U.S.’s Managing Director of Creadev.
“Hungry Harvest is a unique company that is closely aligned with Danone’s One Planet. One Health vision,” said Jean-Francois Hurel, Chief Investment Officer of Danone Manifesto Ventures. “We are looking forward to working with Hungry Harvest’s talented team and its
purpose-driven group of investors to continue reducing food waste and supporting efforts to improve healthy diets in the U.S. by providing access to affordable and nutritious produce.”
With a focus on strategically executing its product roadmap, Hungry Harvest plans to use the additional funding and experience to enhance customer experience, scale its social mission, and continue its efforts to make the business model even more sustainable. The oversubscription in this round of financing demonstrates Hungry Harvest’s ability to grow a profitable business while simultaneously creating meaningful social impact.
“Hungry Harvest brings to the market a resilient business model which is creating economic, social and environmental value for all its stakeholders,” said Marion Schuppe, Impact Investment Manager of Quadia.
Frederic Mayerson, Chairman and Managing Partner of Maywic Select Investments, said, “Maywic is incredibly excited to partner with Hungry Harvest on its journey. Evan and the team are disrupting the status quo in the food supply chain – democratizing fresh, great tasting food at a price that every family can afford all while reducing our waste footprint. That’s a big idea.”
Hungry Harvest also announced that Jean-Francois Hurel of Danone Manifesto Ventures will join Hungry Harvest’s Board of Directors. Marion Schuppe of Quadia and Fred Mayerson of Maywic Select Investments will join as Board Observers.
If you would like more information about this topic or would like to schedule an interview with Evan Lutz, please contact Giuliana Porro at press@hungryharvest.net and download full press release.