Saveggy, a Swedish startup pioneering a revolutionary plant-based coating for fresh produce preservation, has secured a significant investment of €1.76 million. This funding round, led by key players like Unconventional Ventures, LRF Ventures, Almi Invest GreenTech, and industry experts, fuels Saveggy’s mission to tackle the global food waste crisis.
Globally, a staggering 45% of fruits and vegetables go to waste, significantly contributing to climate change. Saveggy’s innovative, edible plant-based coating, derived from canola and oats, aims to revolutionize fresh produce preservation. Their tailored approach begins with cucumbers, extending shelf life and maintaining freshness through a meticulous harvesting, washing, drying, and coating process.
Saveggy’s impact goes beyond product development. They operate on a robust B2B model, targeting a €400 billion global market while focusing on the immediate €1.33 billion opportunity within Europe. Strategic partnerships with leading supermarket chains like Lidl and ICA have been instrumental in refining the product and validating its innovative approach.
Martin Alexandersson, investment director at LRF Ventures, continues: “We are excited and proud to support the team at Saveggy and their innovation in reducing food waste, advancing sustainable agriculture, and proactively complying with upcoming plastic waste regulations.
The support from impact investors underscores their confidence in Saveggy’s technology and its potential to address critical challenges in food systems.
Saveggy’s journey is marked by strategic milestones, including a €440,000 Eurostars grant and key partnerships with major supermarket chains and agricultural organizations. These achievements demonstrate Saveggy’s readiness to scale their technology and make a tangible difference in global waste reduction.
