Ecommerce brand Motatos lands €38 million to tackle growing food waste problem
2022-03-09 Matsmart öppnar i Örebro Foto:Magnus Sandberg Based in Stockholm and recently launched in the UK, Motatos is a startup taking on food waste through ecommerce. The Nordic team has just raised €38 million through a directed new share issue to existing shareholders.
Food waste is a growing problem, but it’s also something that each and every one of us can take ownership over. It’s something every consumer can try to address simply by changing some daily habits and making more conscious and sustainable choices. It’s estimated that currently, a third of all food produced is thrown away. It’s waste that isn’t sustainable nor is it tolerable – both the societal and environmental impacts are huge.
Disrupting the ecommerce market in order to encourage more sustainable consumption, and empower consumers with an easy and more accessible way to address food waste, Motatos has developed a simple solution and is growing fast. The startup has now just picked up a considerable investment and is set to expand. The funding
Today, Motatos has announced a €38 million raise at an attractive uptick valuation, through a directed new share issue to existing shareholders.
The financing round has been led by SEB Private Equity, Motatos largest owner, and Exor Capital who have increased their investment substantially since the fund’s initial investment in the series C-funding round in November 2021 . This brings the total funds raised to over €130 million.
Many of Motatos’ current investors have also participated in the funding round alongside SEB Private Equity including Gullspång Re:food invest, Blume Equity and Exor Group. Law firm Setterwalls Advokatbyrå provided legal services and advice on the transaction.
Maria Bilkenroth, Investment Director SEB Private Equity: “It is now a little over a year since our initial investment in Motatos and we are very pleased with the results […]
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