Matsmart-Motatos tackling food waste with €40M Investment led by Circularity Capital
Summary
Today Circularity Capital led a 40 million growth capital round in Swedish company Matsmart-Motatos, a D2C e-commerce retailer of overstock dry foods and consumer products, with additional support from existing shareholders.Matsmart tackles the issue of waste in the food supply chain by procuring and reselling overstock goods that traditional retailers cant buy.Since its founding in 2014, Matsmart-Motatos has recirculated over 60,000 tonnes of food and consumer products and is active in five European countries.Matsmart has raised $142.2 million in funding, and its total revenue in 2022 amounted to 80 million, with the companys current revenue run rate of 100 million.The latest capital will help grow the business in the German and Nordic regions, including the warehouse automation successfully utilised in Norway. "Our coming five-year plan includes significant growth in the Nordic and DACH regions, and our most important investment ahead will be the automation of the German warehouse operations. We offer our customers sustainable shopping that is fun, affordable, and accessible to all, and naturally, this resonates well with many people. The company has a robust platform ready for further scale and a dedicated team that has proven its ability to execute. "Many of Matsmart-Motatos current investors have participated in the growth capital round alongside Circularity Capital and another new investor, SevenVentures, the investment arm of ProSiebenSat.1 and part of the Groups Commerce and Ventures segment.In partnership with existing Matsmart-Motatos investor Northzone, founder Karl Andersson discussed the companys origins, impact, and future prospects.Lead image: Karl Andersson and Peter Beckius (left to right) of Matsmart-Motatos.