What is Olio?
Founded in 2015 and headquartered in the United Kingdom, Olio operates a mobile app designed to combat food waste by connecting individuals and businesses with surplus food to those in need. The platform facilitates the sharing of food items, thereby promoting a more sustainable and circular economy. Olio's mission is to make it as easy as possible for people to share food rather than throw it away, positioning itself as a key player in the environmental technology and social impact space.
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 Mustard Seed, Quadia, and Accel
Series A (2018): $6M led by Octopus Ventures, Quadia, Accel, and Quentin Griffiths
Series B (2021): $43M supported by VNV Global and Lugard Road Capital
Key Investors in Olio
Octopus Ventures
Octopus Ventures is a venture capital firm that backs companies aiming to change the world, investing across software, climate, health, consumer, and financial technology.
Lugard Road Capital
Lugard Road Capital is an investment firm that provides capital for companies, likely focusing on growth-stage businesses.
Mustard Seed
Mustard Seed is an organization focused on addressing poverty and homelessness, with a history of supporting social impact initiatives.
What's next for Olio?
With its recent major strategic investment, Olio is poised for accelerated growth and enhanced operational capabilities. The company is likely to leverage this capital to expand its user base, forge new partnerships with businesses, and potentially explore new geographical markets. Further development of its technology to improve user experience and logistical efficiency will also be a key focus. This funding round signals strong investor confidence in Olio's business model and its potential to make a substantial impact on global food waste.
See full Olio company page
