Elevate Foods strives to address the critical challenges of food loss and waste within the global supply chain.
Elevate Foods, a Singapore-based company, has recently concluded a pre-seed funding round, securing $525,000. The round was led by climate-centric investment firm Wavemaker Impact (WMi). This significant financial boost propels Elevate Foods closer to their goal of creating a globally trusted network for processed agricultural products, primarily targeting small- to medium-sized farm-gate processors.
RELEVANT SUSTAINABLE GOALS
The infusion of capital will enable Elevate Foods to expand its team, focusing on sustainable food systems and sophisticated quality management tools. The company plans to increase its presence across markets in the Gulf and Southeast Asia. “We are grateful for the successful completion of our pre-seed funding round with the support of Wavemaker Impact,” stated Gayatri Bhatia, CEO and Founder of Elevate Foods. She emphasized the investment as a testament to their commitment to fostering a sustainable and resilient food ecosystem, which will enhance market access for farm-gate processors.
A Mission to Reduce Food Loss and Waste Within the Supply Chain
At its core, Elevate Foods strives to address the critical challenges of food loss and waste within the global supply chain. Shockingly, nearly one-third of all food produced annually is either lost or wasted, which amounts to about $1 trillion in economic losses each year. Elevate Foods is innovating at the start of the supply chain, offering a sustainable and traceable sourcing solution that not only meets the rising global demand for processed produce but also ensures adherence to stringent quality standards.
By empowering local farm-gate food processors in India with access to global markets and compliance with high quality standards, Elevate Foods is helping to create a traceable and sustainable source of agricultural produce. Their technology-driven approach aims to enhance existing food processing capabilities and establish a more resilient food ecosystem globally.
Lead image courtesy of DrNaresh Shejawal from Pexels (Sugarcane harvest labours of India)
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