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January 8, 2021
New York, NY - Too Good To Go, the tech-for-good company powering the world’s #1 app for fighting food waste to create a greener planet, and the growth VC fund blisce/ today announced their partnership to grow the social impact company’s operations and save more meals from being thrown away. With an already impressive track record in Europe, Too Good To Go has recently set its sights on its largest market yet, the U.S., where 40 percent of the food supply goes to waste, representing approximately 133 billion pounds and $161 billion worth of food.
As part of its global strategy, Too Good To Go raised $31.1 million, of which blisce/ invested $15.4 million. The partnership between To Good To Go and blisce/ is also based on a story of shared values. Both entities are certified B Corporations and committed to embedding purpose into their business models. For blisce/, the fact that Too Good To Go measures the number of meals saved as a main KPI demonstrates the centrality of the company’s mission.
Mette Lykke, CEO at Too Good To Go, added: “There is a growing understanding amongst VCs and investors of the impact that can be made through funding a mission-driven company. blisce/ demonstrated this from the moment they approached us, and we are confident as a company that we can continue prioritizing values and impact as we work together. Global food waste is a challenge that requires many solutions. As a company we will continue to rise to this complicated challenge and make a positive impact on the issue in 2021. We will be using this investment to support the rapid growth of our US operation and will continue to work with our partners across Europe, where we're saving tens of thousands of meals through our app every day."
“We at blisce/ are committed to backing mission-driven entrepreneurs, and this partnership with Too Good To Go is the latest example. We are thrilled to be the first VC fund to join Too Good To Go’s incredible story, a company whose ethos we share,” stated Alexandre Mars, Founder & CEO of blisce/. “From the outset, its team has shown an impressive singular vision: that it is possible to embed social impact within the business model and generate impressive results while making a difference for people and the planet.”
Present in 15 countries, Too Good To Go has already saved over 50 million meals by connecting consumers with restaurants and grocery stores in their local communities through its dedicated mobile app. Each meal rescued is the CO2e of charging one smartphone fully 422 times. To date, nearly 30 million people and 65,000 businesses have turned to Too Good To Go to fight waste, recuperate costs and lower their carbon footprint. Too Good To Go arrived in the U.S. in September 2020, with New York City and Boston as the two launchpads. In three short months, the app has quickly grown to 150,000 registered users and 600 store partners in New York City, Boston and New Jersey, forming a community who has collectively saved over 50,000 meals, which is equivalent to the carbon footprint of charging a smartphone fully 22,124,876 times.
Too Good To Go made the decision to bring on blisce/ as its first VC investor in part because of the transatlantic team’s deep U.S. market expertise and history of helping mission-driven entrepreneurs build global consumer brands and technology companies. With consumers flocking en masse toward sustainable brands, both parties are convinced that Too Good To Go’s innovative win-win-win solution for consumers, business owners and the planet, is well positioned to further scale and reach ever more users looking to align their values with their purchasing decisions.
About Too Good To Go:
Too Good To Go is the certified B-Corp and tech-for-good company powering the world’s #1 app for fighting food waste to create a greener planet. The app connects consumers to surplus food that would otherwise be thrown away from local restaurants and grocery stores, such as pastries, fresh produce, sushi and more. Each meal rescued is equivalent to the carbon footprint from charging one smartphone fully 422 times. Founded in 2016, Too Good To Go has saved over 50 million meals across 15 countries, which adds up to 200 million pounds of food. Beyond the app, Too Good To Go has launched initiatives to change date labeling on food, produced free educational resources for schools and inspired households to change food waste behaviors. Visit https://toogoodtogo.com/en-us for more information and follow Too Good To Go on Instagram, Facebook and Twitter.
blisce/ is a B Corp certified growth venture capital fund focused on helping entrepreneurs build mission-driven global consumer technology companies. Founded by Alexandre Mars in 2013, blisce/ is co-headquartered in New York and Paris, investing actively across the U.S. and Europe in leading companies including Spotify, Pinterest, Headspace, Too Good To Go, and Brut.
As a team, blisce/ has committed to donating 20% of profits to charity and works to enhance the ESG of its portfolio companies.
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