On Thursday, Enschede-based OneThird, an AI-driven food tech company, announced that it has raised €3.5M in a Series A funding round led by Dutch-based Invest International, with participation from previous investors Pymwymic, SHIFT Invest, and Oost NL.
The announcement comes as the company witnessed 230 per cent year-on-year growth.
The latest funding round brings the total capital raised to €9.25M.
Besides funding, the company also announced the appointment of Henrike Langbroek as Chief Executive Officer.
“I am thrilled to join OneThird at this exciting juncture and work with the team to make a measurable difference in reducing global food waste and creating a more efficient and sustainable food system for the future,” said Henrike Langbroek, CEO of OneThird.
Fund utilisation
The Dutch company will use the funds to expand its innovative AI and sensor technology, accelerate its product roadmap, and enhance operations to serve fresh produce supply chain stakeholders across Europe and North America.
OneThird plans to rapidly scale its retail store scanners, currently deployed in 10 countries, and expand to new geographies.
“This funding will allow us to amplify our impact and reach new markets, empowering growers, distributors, and retailers to make informed decisions that drive sustainability and profitability,” adds Langbroek.
The company previously raised €2.75M in a late-Seed round of funding led by Dutch-based impact investor Pymwymic in 2023.
OneThird: Food waste prevention
Founded in 2019 by Marco Snikkers, OneThird’s AI-powered near-infrared scanning technology allows farmers, food distributors, merchants, and customers to forecast fresh produce shelf life and reduce food waste correctly.
The company claims that its technology can eradicate up to 25 per cent of waste throughout the produce supply chain by providing partners with real-time information to help in decision-making.
These decisions include maximising best-before dates, choosing to send closer to home or over a shorter shipping distance to preserve shelf life, or redirecting produce that would otherwise spoil by making smoothies, dry frozen goods, soups, and other items out of it.
The Dutch company expanded its offerings in 2024 with a retail store fruit scanner that allows consumers to make smarter purchasing decisions at the grocery store.
OneThird also claims that its technology enables stakeholders to evaluate traditional and advanced quality control (QC) parameters without harming the fresh produce, resulting in savings of up to 50 per cent in QC labor costs.
As per the company’s claims, its technology has already demonstrated significant impact, with participating retailers reporting reduced waste and increased revenue, particularly for high-value products like avocados.
Currently, OneThird’s technology supports a growing list of produce, including avocados, blueberries, strawberries, and tomatoes.
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