What is Karma?
Karma operates as a marketplace designed to combat food waste by enabling restaurants and grocery stores to sell unsold food at discounted prices directly to consumers for on-location pickup. Since its inception in November 2016, Karma has successfully partnered with over 1500 establishments, including restaurants, grocery stores, hotels, cafes, and bakeries, to redistribute surplus food to a user base of 350,000 individuals. This innovative approach not only generates revenue from otherwise discarded items but also contributes to environmental sustainability.
How much funding has Karma raised?
Karma has raised a total of $12M across 1 funding round:
Series A
$12M
Series A (2018): $12M, investors not publicly disclosed
What's next for Karma?
With the recent major enterprise-level funding, Karma is poised for significant expansion and product development. The company plans to enhance its product offerings, with a particular focus on integrating more deeply with supermarket operations. Furthermore, Karma intends to leverage this investment to enter new geographical markets, with initial expansion efforts targeting Europe. This strategic capital injection is expected to accelerate Karma's mission to significantly reduce global food waste.
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