Oddbox secures £16m Series B funding from BurdaPrincipal Investments to expand its food waste platform.
BurdaPrincipal Investments led a £16m Series B funding round to support UK expansion and platform enhancements.
Oddbox operates a subscription service delivering surplus fresh fruit and vegetables rescued directly from farms to consumers. The platform combines weekly box deliveries with tailored recipes and data analysis to track personal environmental impact.
Oddbox has secured £16m in a Series B funding round led by BurdaPrincipal Investments. The capital will be deployed to broaden the company reach across the UK, improve user experience, and increase employee share options as part of its ongoing fight against food waste.
The raise follows a period of rapid expansion for the business, which recorded sixfold year-on-year revenue growth in 2020. Existing backers Mercia Asset Management and Seedrs also maintain their involvement following their participation in previous rounds.
The funds arrive as public awareness around agricultural food waste grows, with the enterprise aiming to prevent thousands of tonnes of produce from being discarded annually. The latest backing provides the platform with strategic support from a major media-backed investor committed to long-term sustainability.
From the founder
"With our recent growth we’ve identified key areas for Oddbox to develop and further our mission to fight food waste. So while we continue to retain majority stakes, we wanted an investor to help make these developments happen, and importantly who also shares our vision that business is a force for good. We’ve found that in Burda, as they’re committed to long-term sustainability, a principle at the core of Oddbox."
Emilie Vanpoperinghe
Co-Founder at Oddbox
Investor perspective
"Oddbox offers a compelling proposition for today’s ethical consumers. Since our initial investment, the company has grown rapidly and embarked on a nationwide expansion plan. This latest funding will enable the team to make an even bigger impact."
Ishaan Chilkoti
Investment Manager, NVM Private Equity
Use of funds
- 01Continue product development
- 02Expand into international markets
- 03Scale operations