Preventing food waste nets Apeel $250 million from Singapore’s government, Oprah, and Katy Perry

Read the full story at Tech Crunch.

Food waste and the pressures on the global food supply chain wrought by the COVID-19 pandemic have captured headlines around the world, and one small startup based in the coastal California city of Santa Barbara has just announced $250 million in financing to provide a solution.

The company is called Apeel Sciences, and over the past eight years it has grown from a humble startup launched with a $100,000 grant from the Gates Foundation to a giant, globe-spanning company worth more than $1 billion and attracting celebrity backers like Oprah Winfrey and Katy Perry, as well as large multi-national investors like Singapore’s sovereign wealth fund.

What’s drawn these financiers and the fabulously famous to invest is the technology that Apeel has developed, which promises to keep food fresh for longer periods on store shelves, which prevents waste and (somewhat counterintuitively) encourages shoppers to buy more vegetables.

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