Target Information

Pymwymic is excited to announce its third investment in the Healthy Food Systems Impact Fund II, specifically in OneThird, a leading innovator focused on assessing the quality of fresh produce. This seed funding round has successfully raised €2.75 million with contributions from existing shareholders such as SHIFT Invest, Oost NL, and Halma plc. The capital will enable OneThird to advance its mission of reducing food loss and waste by enhancing fresh produce supply chains through smarter technology solutions.

Industry Overview in the Netherlands

Food waste and loss present an urgent global challenge, identified prominently by the United Nations as a vital sustainability issue. It is recognized that approximately one-third of food produced for human consumption is lost or wasted annually, which leads to severe environmental repercussions. Food waste accounts for 10% of global CO2 emissions and utilizes 25% of freshwater resources to produce food that is ultimately never consumed.

In the fresh produce sector, a staggering 40% of food waste occurs. Produce items typically have short shelf lives, with some capable of spoiling within just a few days. The current supply chain practices primarily rely on a first-in, first-out method of distribution, which often exacerbates this wastage.

The Netherlands, as a key player in the European food system, is particularly positioned to engage with innovative solutions for waste reduction. Emerging technologies and practices aimed at sustainability are increasingly critical as the nation maneuvers through economic and environmental challenges resulting from food waste.

To address this significant issue, OneThird has introduced a scanner to evaluate the shelf life of fresh produce. This technology aids stakeholders—including growers, distributors, retailers, and consumers—in making informed decisions across the supply chain to mitigate food waste. Initially, the scanner provides insights for tomatoes, strawberries, blueberries, and avocados, with plans to expand its coverage to grapes, bananas, and mangos by late 2023.

Rationale Behind the Deal

The investment in OneThird aligns with the European Union's ambition to halve food waste by 2030, as outlined in Sustainable Development Goal (SDG) 12.3. By equipping consumers and businesses with the necessary tools to manage fresh produce effectively, this funding will enhance OneThird's capabilities to expand its product offerings and operational reach, both domestically and internationally.

Through this financial support, OneThird aims to significantly increase the return on investment (ROI) for its customers while also strengthening their sustainability and Environmental, Social, and Governance (ESG) objectives.

Investor Information

Pymwymic, the investing entity, oversees impact ventures aiming to create a substantial positive effect in lifestyle, health, and environmental sectors. Their commitment to addressing pivotal issues like food waste highlights their strategic alignment with companies such as OneThird. Through this latest investment, Pymwymic reinforces its overarching mission of promoting sustainability and innovation in the global economy.

Alongside Pymwymic, existing investors SHIFT Invest and Oost NL strengthen the backing of OneThird, reflecting a consolidated effort to tackle critical waste issues within the food supply chain. Their collaborative support underlines the shared vision of improving food systems through impactful technological advancements.

View of Dealert

From an expert standpoint, the investment in OneThird is promising, as it presents a robust solution to a pressing global challenge. As food waste continues to rise, innovative technologies that enhance supply chain efficiency will likely see increased demand, positioning OneThird at a strategic advantage.

Moreover, OneThird's growth potential is substantial, given the projected expansion of its scanning technology across various types of fresh produce. This adaptability will likely resonate well with both consumers and businesses, enhancing market penetration and fostering customer loyalty.

Furthermore, with rising global awareness of sustainability and food security, OneThird stands to benefit significantly from government initiatives aimed at reducing waste. Their alignment with the EU's sustainable development goals underscores the potential for notable growth and impact, making this investment a sound decision.

In conclusion, Pymwymic's investment in OneThird not only addresses an urgent global issue but also creates a pathway for long-term profitability and societal impact, marking it as a strategic and commendable move.

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