About one-third of all food produced in the world goes to waste – a sad fact considering that 800 million people go without enough food to eat every day. Paris-based startup Phenix is tackling this problem. Specialising in food donation and waste recovery, it uses technological solutions to reduce waste and its devastating social and environmental impact.
Phenix has just completed a €15 million financing round from ETF Partners, Bpifrance, Sofiouest and Arkéa. The startup plans to use the new funding to accelerate its international development, invest in the development of new digital services, and expand its activity towards the management of other waste streams.
Jean Moreau, co-founder and president of Phenix, says: “This investment shows the full potential of Phenix within the ecosystem of waste management and gives us the means to expand our presence in France and abroad, while expanding our offer beyond food.”
Founded in 2014, Phenix offers an alternative to landfills and incineration, finding the best value chain for unsold products: promotion on short-term products, donations to charity, animal feed, and recycling.
The startup works in close collaboration with more than 950 associations, and 1,000 clients, including major retailers such as Unibail-Rodemco, and is developing its presence in Spain and Portugal. Phenix now distributes 100,000 meals and saves 50 tons of waste every day from the trash.
By the way: If you’re interested to join a fast-growing startup like Phenix, make sure to check out the EU-Startups Job Board.