What is Olio?
Founded in 2015 and headquartered in the United Kingdom, Olio operates a mobile platform designed to combat food waste by connecting individuals and businesses with surplus food to those who can utilize it. The app facilitates the sharing of food items, thereby promoting a more sustainable consumption model and reducing environmental impact. Olio's innovative approach positions it as a key player in the burgeoning circular economy and sustainability tech market, leveraging technology to address a critical global challenge.
How much funding has Olio raised?
Olio has raised a total of $51.2M across 3 funding rounds:
Private Equity
$2.2M
Series A
$6M
Series B
$43M
Private Equity (2017): $2.2M with participation from Quadia, Accel, and Mustard Seed
Series A (2018): $6M led by Octopus Ventures, Quentin Griffiths, Quadia, and Accel
Series B (2021): $43M supported by Lugard Road Capital and VNV Global
Key Investors in Olio
Quadia
Quadia SA is a pioneer in impact investing, focusing on advising professional and institutional clients with strategies that yield attractive returns while promoting positive social and environmental impacts. They finance privately-held companies that provide sustainable solutions, supporting the transition towards a Regenerative Economy.
Accel
Accel Inc. is a leading contract packaging company specializing in copacking and assembly services. They offer a wide range of packaging solutions catering to various industries, with a focus on quality and scalable operations.
Octopus Ventures
Octopus Ventures is a founder-focused venture capital firm backing companies across software, climate, health, consumer, and financial technology, offering long-term capital, guidance, and community to businesses aiming to change the world.
What's next for Olio?
With its recent major strategic investment, Olio is poised for accelerated growth and enhanced market penetration. The company is likely to focus on expanding its user base, forging new partnerships with food businesses, and further developing its technological infrastructure. This capital infusion will enable Olio to solidify its position as a leader in the food waste reduction space, potentially exploring new service offerings or geographical expansions to amplify its mission of making food sharing commonplace.
See full Olio company page
