Food waste reducing KITRO closed first financing round
11.10.2018
KITRO, a startup that focuses on tackling the food waste produced in commercial kitchens, has announced the closing of their seed financing round.
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Every day, there are millions of tons of food being wasted, two-thirds of it is said to be edible. Reducing the avoidable food waste prevents unnecessary greenhouse gas emissions and helps mitigate climate change. KITRO developed the first fully automated food waste management solution for the hospitality industry. It empowers the businesses to optimize work practices leading to a reduction in food waste, food cost and their negative environmental impact.
A year after incorporating the company, KITRO announced the closing of a seed round. The financial support comes from multiple business angels in Zürich and Geneva, who collectively contributed to the startup’s first equity financing round. The backers hold significant roles in the industry and bring a multitude of expertise to the startup. The financial support will primarily be used for talent growth and product development.
KITRO passed Venture Kick stage 1 in 2017. Co-founder Naomi MacKenzie says: “We are very excited about achieving this significant milestone and are thankful to have the support from programs such as Venture Kick.”
The team has recently grown to 6 people, expanding the tech talent. Therefore, the focus for the next months will be on product development as a new hardware and software prototype batch is planned for early 2019.
A year after incorporating the company, KITRO announced the closing of a seed round. The financial support comes from multiple business angels in Zürich and Geneva, who collectively contributed to the startup’s first equity financing round. The backers hold significant roles in the industry and bring a multitude of expertise to the startup. The financial support will primarily be used for talent growth and product development.
KITRO passed Venture Kick stage 1 in 2017. Co-founder Naomi MacKenzie says: “We are very excited about achieving this significant milestone and are thankful to have the support from programs such as Venture Kick.”
The team has recently grown to 6 people, expanding the tech talent. Therefore, the focus for the next months will be on product development as a new hardware and software prototype batch is planned for early 2019.