Thursday, November 9, 2017

FoodMaven Raises Funding From Former Whole Foods CEO

Colorado Springs-based FoodMaven, a startup developing an online marketplace to recapture much of the food lost in inefficiencies in the U.S. agricultural supply chain, has raised a round of funding from former co-CEO of Whole Foods Market, Walter Robb. According to FoodMaven, it has created an online marketplace which aims to recapture the 40 percent of the food which is lost in distribution each year, equal to about 133 billion pounds of food, and $200 billion a year in lost revenue. FoodMaven says it is creating an internet marketplace and "rapid logistics system" for re-selling and quickly delivering this lost food, using big data optimization technology. FoodMaven is led by co-founder, Chairman, and CEO Patrick Bultema. Robb has joined FoodMaven's board as part of the funding.