TreeDots raises US$11m to tackle food waste

TREEDOTS, a Singapore-based startup tackling the issue of food waste, has closed an US$11 million Series A funding round co-led by East Ventures and sustainability-focused venture capital firm Amasia.

Other investors include Seeds Capital, Ayala Corporation and Globe Telecom-backed Active Fund, author Nir Eyal and actress Fiona Xie.

TreeDots helps redistribute unsold food inventory from suppliers to businesses such as restaurants and cafes.

"We realised that a grocery chain might not buy a chicken that's too big or has a broken bone because it looks funny on their shelves. But F&B (food and beverage) outlets don't care because they will cut it, plate it and make it look nice before serving," said Tylor Jong, co-founder and chief executive officer of TreeDots. "So if they can purchase essentially the same product at prices up to 90 per cent cheaper than alternatives, they are very happy."

Food waste is a global issue. Aesthetically imperfect food often end up in the landfill despite still being fresh and nutritious. The food is incinerated or left to rot, contributing to the emission of greenhouse gas methane.

TreeDots expanded to Malaysia last year. The startup has a social commerce platform that allows consumers to buy products at discounted prices. The startup delivers a number of orders to one address, and neighbours pick up their goods from this household.

Janet Sarah Neo, vice-president of corporate sustainability and government affairs at Lazada and executive board member at Temasek Foundation Liveability, will be joining TreeDots as a board observer.

She joins as part of the Amasia Leaders Program, which aims to increase access to the venture capital industry for women and minorities.