Food-waste service Karma was launched in fall 2016 and already has investments from Norrsken Foundation, founded by Niklas Adalberth; Avito-founders Jonas Nordlander and Filip Engelbert, and several well-known Swedish business angels. Now, Karma, which helps restaurants to reduce food waste by selling unsold portions of food to consumers, is further backed by tech investor Sophia Bendz.
Now Karma is receiving backing from investor Sophia Bendz who was one of the key people behind Spotify’s success journey, first in Sweden and then the expansion to the United States. In 2014, she left Spotify to invest full time and today sits on a number of boards and works at Niklas Zennström’s venture capital firm Atomico.
– Karma has managed to build a smart and scalable product that solves an obvious problem. They are a fantastic team and I see that Karma has the opportunity to have a major positive impact on one of society’s biggest challenges, and I look forward to helping them on their journey, says Sophia Bendz.
Karma was launched in early November last year and has since grown significantly. The company is growing steadily with over 20 percent each month, and most recently with 80 percent in February.
– The response from both consumers and restaurants have been amazing. We had not expected such strong growth from day one. Everything indicates that we will maintain the growth rate going forward, which feels fantastic, says Hjalmar Ståhlberg Nordgren, CEO and co-founder of Karma.
The Karma app gives consumers the opportunity to buy excess food directly from restaurants as take-away to a maximum of half the price. Since the launch, users have saved over two tons of food, equivalent to three tons of carbon dioxide emissions. In revent days, the service opened up to restaurants across the country; all restaurant owners in Sweden can join for free and start making their food waste profitable, while contributing to a better environment.
– It is exciting with companies that attack a clear problem in a new way and dare to question a pattern of behavior. Just as we were getting people to listen to music in a new way with Spotify, Karma creates a new way to consume food, from both the restaurants’ and consumers’ perspective. With Karma, all can contribute to the solution, says Sophia Bendz.
– We are very pleased to have Sophia Bendz join the Karma team. Her experience from Spotify’s market expansion in Sweden and internationally, will be worth gold now that we take the next step in reducing food waste over the country and further on the next market, says Elsa Bernadotte, co-founder and COO of Karma.
Karma is available both for download on the App Store for the iPhone and the Google Play Store for Android. The app already has over 30,000 active users and the company estimates at least ten times that number of users in 2017.
> More about Karma: www.karma.life