Shelf Engine raises $12M to help Whole Foods, Target, Kroger manage orders and reduce waste
Summary
Disruptions to the food supply chain and consumer purchasing changes have forced farms to destroy millions of pounds of fresh goods while grocers deal with spoilage issues. The Seattle startup just landed a $12 million investment round to fuel growth of its software that helps more than 1,000 grocers — including giants such as Whole Foods, Target, and Kroger — manage food orders for deli, bakery, cut produce, meat, and other categories. More than 30% of highly perishable foods in grocery stores such as meat and vegetables expire before the sell-by date, according to Shelf Engine. “We see inefficiencies of the food supply chain as well as lack of agility to respond to market changes in real time as a global opportunity ripe for transformation,” Hans Tung, managing partner at GGV Capital and a new Shelf Engine board member, said in a statement. Kalb got the idea for the company through another startup he co-founded: Molly’s, which provides healthy food to hospitals, grocery stores, coffee shops, gyms and offices.