Information on the Target

OneThird, a Dutch Food Tech company, has successfully raised €1.5 million in its latest funding round. The investment comes from prominent investors SHIFT Invest and Oost NL. These funds will be utilized to enhance OneThird’s fresh produce quality prediction platform, as well as to expand pilot programs with retail customers. In addition, the company aims to bolster its technical team by acquiring AI specialist firm Impact Analytics, thereby strengthening its expertise in spectral imaging and analysis.

Industry Overview in the Netherlands

The Netherlands is renowned for its robust agricultural sector, which plays a pivotal role in ensuring food sustainability globally. The United Nations has highlighted food waste as a significant sustainability challenge, leading to the establishment of Sustainable Development Goal 12.3, which aims to halve food waste by 2030. Despite advancements in agricultural technology, approximately one-third of food produced globally is wasted, necessitating urgent action from all stakeholders in the food supply chain.

In recent years, major retailers in the Netherlands and their supply chain partners have formed a coalition known as Champions 12.3, striving to inspire ambition and action towards achieving food waste reduction targets. The complexity of logistics in delivering fresh produce is exacerbated by fluctuations in quality due to seasonal changes and environmental factors. This emphasizes the need for innovative solutions to ensure that fresh produce maintains its quality and value throughout the supply chain.

OneThird addresses these challenges by employing cutting-edge technology that enables quality inspectors to non-destructively assess fresh produce. Utilizing Near-Infrared sensors, the platform can evaluate multiple products within seconds, providing essential data on internal and external quality attributes, including shelf life and taste. By integrating this technology with AI-driven analysis, OneThird presents a transformative approach to reducing inefficiencies in the food industry.

The Rationale Behind the Deal

The rationale for this funding round is driven by a compelling need to reduce food waste and optimize fresh produce logistics. OneThird's innovative technology provides real-time insights that empower quality inspectors along the food supply chain, allowing them to make informed decisions that enhance product quality and minimize waste. According to Marco Snikkers, the founder of OneThird, their unique predictive capabilities can improve inventory management and ultimately lead to better consumer experiences.

The financial backing from SHIFT Invest and Oost NL underscores their confidence in OneThird's potential to significantly impact the food value chain. By investing in OneThird, these investors are aligning themselves with a company that is well-equipped to address pressing global challenges associated with food waste.

Information About the Investor

SHIFT Invest is an impact-driven venture capital fund that focuses on supporting innovative companies aiming to create substantial positive change. Their Investment Manager, Koen Hooning, expressed enthusiasm for OneThird's mission, highlighting their commitment to providing actionable information that is significant to customers in reducing food waste. This strategic investment aligns with SHIFT Invest’s mission to back ventures that not only hold economic potential but also contribute to environmental sustainability.

Oost NL, another key investor in this funding round, prioritizes investments in companies that leverage technology to tackle major global challenges. Their representative, Chimwemwe de Gaay Fortman, emphasized the alignment of OneThird’s goals with Oost NL's initiatives in the East Netherlands, particularly in promoting high-tech innovations that benefit the agricultural and food sectors. By facilitating collaboration with esteemed institutions, such as Wageningen University & Research, Oost NL aims to further drive advancements in food-related technologies.

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This investment in OneThird represents a commendable effort towards addressing the ongoing issues of food waste and quality management in the agricultural sector. OneThird's utilization of advanced technology to predict and monitor fresh produce quality demonstrates not only innovation but also the potential for significant market disruption. With the rising awareness of sustainability issues, companies embracing such technology are likely to experience increased demand for their solutions.

Furthermore, the backing from reputable investors like SHIFT Invest and Oost NL adds credibility to OneThird's mission and operational capabilities, signaling confidence in their approach to revolutionizing food logistics. With the growing emphasis on sustainability within the food industry, OneThird's solutions are poised to resonate with retailers committed to waste reduction.

In conclusion, investing in OneThird could be a strategic move for stakeholders looking to engage in the sustainability space. The combination of their innovative technology, dedicated team, and strong investor support positions them well for growth and impact in the food sector. As consumer preferences continue shifting towards sustainability and transparency, OneThird’s platform could play a vital role in meeting those needs effectively.

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