Norselab invests in Plateful: “We want to help create more sustainable food systems.”
Plateful works to ensure that more of the food we produce in the world today reaches our plates. Enabling seamless cooperation between producers, wholesalers, and customers, Plateful helps us make better use of the food resources that are already available to us. Their focus on mending flaws in the value chain, and helping to build a more sustainable food system, goes straight to the heart of Norselab’s impact investment mandate.
A third of the food produced for human consumption gets lost or wasted in the system
Every year, one-third of the food produced for humans is lost or squandered globally. Food loss and waste contribute to three billion tons of greenhouse gas emissions annually, showing that our existing methods of producing and consuming food are incompatible with sustainable development.
Producers are forced to throw away edible food for a variety of reasons, including production flaws, over-ordering in the value chain, limited shelf-life and seasonal changes. At the same time, consumers are becoming increasingly aware of the negative impacts of the food industry, leading to a growing market for food items that “don’t fit in.”
- At Plateful, we consider ourselves the trusted friends of chefs and food-lovers and aim to elevate our love for food by taking better care of available resources in the best possible ways. By ensuring that more food finds its way to people’s plates, we aim to change a malfunctioning food system and have a positive impact, shares Lars-Kristian Leiro, CEO and co-founder of Plateful.
Forging a more sustainable connection between producer and plate
Plateful’s platform allows suppliers of well-known food items to sell redundant volumes on the marketplace. Customers, typically chefs working in canteens, restaurants, hotels, or institutional kitchens, can choose from a large selection of high-quality products at competitive prices, forging a more sustainable connection between producer and plate.
- A third of available food does not make it to people’s plates from fields, farms, seas, or factories. This places enormous strain on available resources and generates emissions at each stage. Plateful has the potential to fix this, making it an investment case with massive impact potential, which excites us at Norselab, says Yngve Tvedt, Chief Investment Officer at Norselab.
Norselab invests 25 MNOK
Plateful has proven its ability to expand revenues through challenging market dynamics, demonstrating the company’s ability to adapt. Norselab has invested a total of 25 MNOK in Plateful, and will work closely with the management team to pursue a venture-grade growth strategy including international expansion. The first step has already been made this spring with a comprehensive rebranding unveiled in May.
Plateful is a Norwegian wholesaler forging a more sustainable connection between producer and plate. Working on the industry level of the food value chain, Plateful helps producers, wholesalers and customers connect to make more sustainable food choices. Founded in Oslo in 2017 by Lars-Kristian Leiro and Tommy Sundt, Plateful currently have a yearly revenue approaching 100 MNOK. Plateful is formerly known as Verdimat.