Winnow estimates that in excess of $100 billion worth of food is wasted each year in the hospitality sector alone so the London-based firm developed an AI solution for the food sector to reduce waste in kitchens.
The technology harnesses the power of computer vision to identify wasted food items in real time. Winnow’s analytics tools then help teams pinpoint waste areas giving them insights to make operational improvements and cut waste in half.
To further develop and expand its AI capabilities Winnow has raised a $10 million Series C funding round. Investors in the round include ArcTern Ventures, Bridge Nine, Mustard Seed, Circularity Capital, Ingka Investments and Novax.
"We are thrilled to have the support of such prominent investors who share our vision of a more sustainable food industry," says Marc Zornes, CEO and co-founder of Winnow. "This investment will enable us to further develop our world-leading AI capabilities, bringing even greater efficiency and impact to our clients and partners as we work together to reduce food waste on a global scale."
To date, the company claims its solutions have saved $174 million and cut 217,000 tonnes of CO2e emissions worldwide - the equivalent of taking almost 50,000 cars off the road for a year.
"We’re delighted to announce ArcTern Ventures’ investment in Winnow. Their ground breaking technology and global reach perfectly chimes with our approach to backing breakthrough solutions that will accelerate our response to climate change," says ArcTern Ventures managing partner Marc Faucher.
Main Image: Winnow