FoodMaven, a Colorado Springs, Colo.-based innovative tech-enabled marketplace that captures food otherwise lost in the US food system, closed a $8.6m Series A financing.
The round was led by members of the Walton family with participation from Rajesh Atluru, Robert Finzi, Chris Scoggins, Eric Roza, Jon-Erik Borgen of FirstTracks Ventures, Tom Ahlborg, and a handful of others.
The company intends to use the funds for the continued buildout of its logistics capacity, further investment in technology and innovation, the hiring of additional employees to support growth and operations.
Led by Patrick Bultema, Chairman, CEO and co-founder, FoodMaven is an innovative online marketplace and rapid logistics company for the U.S. food system. The company applies an innovative logistics model, big data technology, an optimized online marketplace, and sourcing relationships with food suppliers in the system, to both capture and sell this lost food to foodservice buyers that include restaurants, institutional kitchens, and commercial food businesses.
FoodMaven currently serves hundreds of suppliers and buyers in Colorado.