FOOD WASTE
“ FROM CREATING MORE PUBLIC AWARENESS , TO TECHNOLOGY INNOVATION , TO REEVALUATING WASTE- RIDDEN BUSINESS MODELS , THE TOPIC OF FOOD WASTE IS FINALLY STARTING TO TAKE CENTRE STAGE ”
DANA GUNDERS EXECUTIVE DIRECTOR , REFED
savvy ways to cut down on food waste are attracting increased funding . Investment in food waste startups reached a record US $ 4bn in 2021 , showing that industries are starting to see solving food waste as a business opportunity , rather than just a matter of corporate social responsibility .
VC firm Elemental Excelerator has shelled out around US $ 500,000 to five growthstage companies addressing food waste , while Maersk Growth – the venture arm of the world ’ s largest transporter of food – has been an active investor in food waste tech , backing grain monitoring tech TeleSense and food blockchain startup Ripe . io , among others . of the food ’ s journey throughout the supply chain , from farm to table .
This is critical as 14 % of total global food produced is lost between harvest and retail . Knowing at what part of the global supply chain problems arise is typically not known , but emerging technologies like IoT and blockchain can achieve this .
Described as being “ evolutionary ” in the fight on food waste , blockchain has the ability to transform food production increasing the level of safety , transparency and traceability of food from farm to table , and in turn limit waste , says Erik Valiquette , president of the Canadian Blockchain Supply Chain Association . Replacing the current process with a single digital ecosystem run on a blockchain “ could be used to store timestamped activity and verify transactions throughout the food supply chain , while working in synergy with other technologies like AI robotics , scanners and IoT to create an infrastructure more efficient and transparent that the one currently in use ”, says Valiquette .
Digital supply chain – leveraging IoT and blockchain Technology is increasingly being used to tackle the issue of food waste and is proving especially impactful in providing a digital trail businesschief . com 103