Imperfect Foods, a San Francisco, CA-based sustainable online grocery company, announced its Series D commitment will total $110M, a $15M increase from the previously-announced January commitment of $95m.
The Series D round now includes two new investors, private markets investment management firm Hamilton Lane (NASDAQ: HLNE) and Blisce.
The company intends to use the funds to increase production capacity, accelerate its private label program, improve the shopping experience, and support farmers, suppliers and communities who are core to the business.
Led by CEO Philip Behn, Imperfect Foods is a grocery delivery platform on a mission to eliminate food waste via scheduled weekly deliveries.
In 2020, the company’s sourcing strategy saved over 50 million pounds of food and avoided over 20,000 tons of carbon dioxide, with their last mile delivery model avoiding another 12,000 tons of carbon dioxide emissions. In addition, Imperfect Foods diverted more than 70% of its material waste from landfill.