UglyFood, a food waste management company based in Singapore, is in discussion with three investors to raise seed financing of up to US$1 million, a top company executive said.
The capital being raised will go into the foodtech startup’s marketing and outreach efforts, mainly for its games section. “We expect to close this (fundraising round) by August this year,” said General Manager Sean Goh.
UglyFood was founded in 2017 by Lee Zhong Han, Yeo Pei Shan, Foo Lin Geng, and Augustine Tan — all in their 20s — with a mission to eliminate food waste and revamp the food ecosystem. Its aim is to make sustainability a part of people’s everyday lives.
The startup operates in the fruits and vegetables space by selling excess/ugly produce, and creating content on sustainability.