Karma, a social enterprise dedicated to reducing food waste in the cafe and restaurant industry, has reportedly raised between €3-4 million in a new investment round. The investment from e.ventures and eEquity will allow the company to expand in Europe.
“Karma has quickly managed to create a simple and innovative solution to one of the world’s biggest environmental problems with a globally scalable model,” said Christian Leybold, Karma board member and general partner at e.ventures.
Karma, a platform that lets users find cheap eats nearby using GPS, was founded in 2015 by Mattis Larsson, Elsa Bernadotte, and Ludvig Berling. It helps reduce food waste by allowing restaurants to offer food that is close to expiring at deep discounts.
Read more: DIgital (Swedish)