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Food waste in the United States is estimated between 30% and 40% of the total food supply, according to the U.S. Department of Agriculture (USDA). USDA s Economic Research Service estimated the loss at 31% at the retail and consumer levels.
There are a number of reasons for food loss – from spoilage to production problems. At the retail level, overordering and the removal of blemished or less pristine product from store shelves leads to waste. Several startup companies are attempting to tackle this, and one has now reached unicorn status.
Misfits Market, a Delanco, New Jersey-based online grocer, announced a $200 million Series C funding round led by Accel and D1 Capital, bringing its total funding to $301 million to date. The latest funding values the firm at more than $1 billion – the traditional threshold for unicorn status.
Direct-to-consumer brand Misfits Market achieves unicorn status
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Misfits Market Announces $200M Series C
waste360.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from waste360.com Daily Mail and Mail on Sunday newspapers.