Imperfect Foods Raises $95 Million in Series D Round
Posted on 01/23/2021
Imperfect Foods is a San Francisco-based online food marketplace. The company seeks to reduce food waste. Imperfect Foods raised US$ 95 million in Series D funding co-led by New York-based Insight Partners and Norwest Venture Partners at a US$ 700 million post-money valuation. Insight Partners also led the Series C round eight months ago. In 2020, Imperfect Foods completed its transition from a regional produce-focused delivery service to a national full-service grocer.
Founded in 2015 with a goal of eliminating the 40% of unspoiled food thrown away in the U.S. each year, Imperfect Foods began their operations by delivering produce to consumers that was in surplus or deemed ugly yet was, by all other measures, healthy and fresh. Imperfect Foods could end up finding a home with a large company like Amazon.com, Inc., which has the logistics, or in this environment aim to go public via SPAC.
