Too Good To Go Raises $31M in Funding to Tackle Food Waste Crisis
Too Good To Go, the innovative startup combating food waste through its marketplace platform, has secured \(31.1 million in a recent funding round. The investment was led by [blisce/](https://www.crunchbase.com/organization/blisce) with a \)15.4 million contribution, alongside participation from existing investors and employees. This marks the company’s first venture capital-backed funding round since its inception.
How Too Good To Go Works
The platform connects consumers with restaurants, grocery stores, and bakeries to purchase surplus food at discounted prices before it goes to waste. This creates a triple-win scenario:
- Businesses generate revenue from otherwise discarded inventory
- Consumers access affordable meals
- The environment benefits from reduced food waste
Too Good To Go earns a commission on each transaction, sustaining its operations while driving meaningful impact.
The Scale of the Food Waste Problem
CEO Mette Lykke highlighted that one-third of all food produced globally is wasted - representing both a massive environmental challenge and business opportunity. Despite COVID-19 setbacks that caused a 62% revenue drop in 2020, the company has shown remarkable resilience.
Current Impact and Expansion Plans
To date, Too Good To Go has:
- Operated in 15 countries worldwide
- Partnered with 65,000 businesses
- Saved 50 million meals from waste
- Attracted 30 million registered users
The company is now focusing on U.S. expansion, initially launching in:
- New York City
- Boston
- Parts of New Jersey
Early U.S. metrics show promise:
- 150,000 users
- 600 business partners
- 50,000 meals saved
The Road Ahead
With the new funding, Too Good To Go plans to:
- Accelerate growth in existing markets
- Expand further across the U.S.
- Develop long-term strategies to maximize impact
As food waste continues to account for 30-40% of the U.S. food supply (USDA), Too Good To Go’s innovative approach positions it as a key player in creating sustainable solutions for this global challenge.
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