Apeel announced $250M in Series E funding led by returning investor Temasek. The company’s total funding now exceeds $635 million, with a valuation over $2 billion dollars.
New and returning investors include Mirae Asset Global Investments, GIC, Viking Global Investors, Disruptive, Andreessen Horowitz, Tenere Capital, Sweetwater Private Equity, Tao Capital Partners, K3 Ventures, David Barber of Almanac Insights, Michael Ovitz of Creative Artists Agency, Anne Wojcicki of 23andMe, Susan Wojcicki of YouTube and Katy Perry.
The new investment will help accelerate Apeel’s partnerships and plant-based products that aim to prevent food waste in the fresh food supply chain.
“The pandemic has shaken up food retail. People are increasingly buying their fresh produce online, while simultaneously expecting the best in terms of quality and sustainability,” said James Rogers, CEO of Apeel. “We’ll use our latest funding to help our supplier and retailer partners offer a differentiated experience to their shoppers: high-quality produce that’s less likely to go to waste at home. By using solutions by nature and for nature, and in collaboration with food supply chain partners around the world, we can ensure people everywhere have a great experience with their fresh produce.”
This new investment will be used to accelerate Apeel’s partnerships and plant-based products that aim to prevent food waste in the fresh food supply chain, including for the consumer at home.
Apeel will also use its new funding to co-create new supply networks with produce suppliers and retailers that will increase the availability of longer-lasting produce for consumers across the U.S., U.K. and Europe. Today, Apeel has teams and partners on the ground in eight countries operating 30 supply networks that apply Apeel’s plant-based protection to produce, capture internal and external data, and distribute Apeel-protected produce to 40 retail partners and tens of thousands of stores around the world. With its new funding, the company plans to put into operation at least 10 additional supply networks by the end of the year.
Additionally, the company will use its funding to advance its data and insights offerings, including potential acquisitions, to complement Apeel’s growing technology stack.
“Our choice to partner with Apeel supports our mission to deliver new products that are better for our retail partners, their customers and the environment,” said Alvaro Munoz, CEO AM FRESH Group. “I'm excited to see the innovations Apeel and AM FRESH will create for the benefit of our customers and the planet.”
For more information:
Nadia Jamshidi
Apeel
Tel: +1 (408) 859-6052
[email protected]
www.apeel.com
