OLIO secures $43m Series B funding led by VNV Global to fuel international expansion.
The funding round was led by VNV Global with participation from a broad syndicate of international investors.
OLIO operates a community sustainability application that connects neighbours to share surplus food and household items. The platform aims to reduce domestic waste and encourage sustainable local consumption.
OLIO has secured a $43m Series B funding round led by VNV Global to support its international expansion and scaling efforts. The round included participation from Lugard Road Capital, Accel, Octopus Ventures, Rubio, DX Ventures, Alumni Ventures, and Flight Ventures, alongside contributions from high-profile angel investors.
The capital will be deployed to accelerate growth across key markets in Latin America, Northern Europe, and Asia, while expanding the Food Waste Hero Programme. Additionally, the company plans to increase its headcount significantly over the next two years to support ongoing product development.
From the founder
"OLIO has grown five times over the last year, reflecting a step change that’s taken place as businesses and citizens look to be more sustainable and connect with their local communities. We’re beyond thrilled to have raised this capital from a brilliant set of investors who are backing our vision of reinventing consumption for more than one billion OLIOers by 2030. We have this enormous ambition because humanity cannot continue to puzzle over how to keep global warming within 1.5 degrees and feed a population of 10 billion – whilst continuing to throw away one third of the food we produce, and consuming as if we have 1.75 planets. In solving these twin problems we aim to build one of the most transformational companies of our generation."
Tessa Clarke
Co-founder at OLIO
Investor perspective
"The growth of OLIO over the last year has been nothing short of phenomenal and it’s clear that consumers are becoming increasingly focused on the small actions they can take to improve the sustainability of their households. OLIO, a next generation community marketplace with the potential for truly global reach, is perfectly positioned to service this movement and in doing so create a truly transformational company. We’re delighted to be part of the OLIO journey and look forward to supporting Tessa, Saasha and their team."
Per Brillioth
CEO, VNV Global
Use of funds
- 01Expand into international markets
- 02Grow the team
- 03Continue product development
Investors
Per Brillioth
VNV Global
Lugard Road Capital
Accel
Octopus Ventures
Rubio
Duncan McIntyre
DX Ventures
Alumni Ventures
Flight Ventures