US food distributing start-up company FoodMaven has raised $15.3m in a Series B funding round.

The Series B funding is intended to support FoodMaven’s growth and expansion.

The funding round had seen participation from members of the Walton family, Tao Capital and Fine Line Group.

FoodMaven CEO Ben Deda said: “We’re excited to have incredible investors that share our mission of making sure all food is used with good purpose. This funding will allow us to prove out the FoodMaven model in new markets and continue to grow here in Colorado.”

The online marketplace sells surplus food from distributors, manufacturers and producers to restaurants, institutional buyers such as universities and commercial food businesses like hotels in the country.

The remaining unsold food is donated to hunger relief organisations.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In 2018, FoodMaven closed an $8.6m Series A financing, which was led by members of Walmart’s Walton family.

FoodMaven advisor Tim Ma said: “FoodMaven continues to get support and investment because they have such a compelling solution for chefs who care about sustainability.”

The company plans to launch its business model in Dallas-Fort Worth (DFW), Texas, and other markets.

Fine Line Group Sasha Bass said: “We are committed to investing in Fort Worth and introducing the world to the city we call home. Our backing of FoodMaven is a signal that we are serious about bringing innovative and sustainable concepts to Sundance Square, DFW, and beyond.”