KITRO Secures Additional Funding to Combat Food Waste
Zurich, Switzerland, November 27, 2024 – KITRO, a pioneering company committed to minimising food waste through its cutting-edge technology, has successfully closed its latest funding round. The round was led by Zintinus, an investor into the positive transition of the food system, joined by Pymwymic, a leading impact investor, as well as multiple historic investors.
Founded in 2017 by hospitality insiders, KITRO is a Swiss company embarking on a global challenge to harness the power of data to save valuable resources and bring back the value to all food, so that it is appreciated and not wasted. With artificial intelligence as the foundation, KITRO offers an automated food waste data collection and analysis solution that can be adopted by food and beverage outlets worldwide. The new funding will enable KITRO to expand its market reach and accelerate its sustainability goal of achieving verified reductions in food waste.
When food is discarded, associated resources and environmental consequences go to waste with no benefit for human nutrition. The food service industry is responsible for a substantial amount, contributing to 10% of food waste in Europe. KITRO’s high quality solution has been designed to measure and monitor food waste in professional kitchens with no additional effort in the day-to-day kitchen routines. The solution tracks and records all discarded items, using artificial intelligence to identify and quantify each ingredient. This helps executive chefs and managers to pinpoint waste issues and take targeted actions to reduce food waste and save costs. This combines improvements in sustainability with financial benefit in a very effective way. Additionally, KITRO’s solution delivers precise and reliable metrics for sustainability reporting, a practice that is increasingly adopted and, in some cases, already mandated by larger hotel groups.
“Food waste is a pressing global challenge, and we are committed to making an impactful change. We are thrilled to have the support of Zintinus and Pymwymic as we continue to grow and make a significant impact on food waste reduction”
Anastasia Hofmann & Naomi MacKenzie, both Co-Founder and Co-CEO of KITRO
Zintinus, known for its commitment to investing in innovative food tech solutions, sees great potential in KITRO’s approach.
“KITRO has developed a superior solution for food waste reduction, which enjoys great response from the hospitality industry. We are thrilled to support KITRO on their way to make their solutions accessible to as many businesses as possible in the hospitality sector to improve their sustainability profile and business success“
Olaf Koch, Partner at Zintinus
Pymwymic, with its focus on impact investing ‘from farm to fork’, is equally enthusiastic about the partnership.
“We believe KITRO’s data-driven approach to simplify food waste monitoring has led to a state-of-the-art solution which addresses a critical issue in the food industry. We are excited to support their growth and impact“
Monique Meulemans, Partner Pymwymic
KITRO becomes the eight company of the Pymwymic Healthy Food Systems Impact Fund II.
For more information, please visit KITRO’s website www.kitro.ch
About KITRO
Founded in Switzerland, KITRO is the first fully automated food waste management solution for the hospitality industry. Its cutting-edge technology helps businesses track and reduce food waste, contributing to a more efficient and sustainable food system. With global hotel partners such as Hyatt EMEA and Four Seasons Hotel Group, KITRO is already present in over 20 countries and aims to increase their presence and impact globally.
About Zintinus
ZINTINUS is a food tech growth capital fund with a focus on alternative proteins, functional food, clean nutrition and food waste reduction with offices in Berlin, Germany and Boulder, USA. ZINTINUS aims to contribute its unique combination of knowledge, experience and network to the positive transition of the food systems creating the basis for superior value generation along the whole chain to the benefit of consumers, the environment and investors.
About Pymwymic
Pymwymic (Put Your Money Where Your Meaning Is Community) has taken a frontrunner role in the transition towards investing with care for both people and planet since 1994. Backed by over 250 individuals, families, entrepreneurs and angel investors and joined by institutional investors, we have launched two Article 9 compliant impact funds, currently investing through the Healthy Food Systems Impact Fund II. This fund focuses on early-stage AgriFood scale-ups that offer pioneering solutions in areas like sustainable farming, food waste reduction, and regenerative agriculture.
About Healthy Food Systems Impact Fund II
The Healthy Food Systems Impact Fund II focuses on early-stage AgriFood scale-ups that offer pioneering solutions in areas like sustainable farming, food waste reduction, and regenerative agriculture. With six companies already in its portfolio, the fund is well-positioned to invest in innovative companies that are set to drive the future of food. By uniting diverse stakeholders under a shared mission, the fund aims to accelerate the transition toward a food system that is both more sustainable and healthier for people and the planet. The combined efforts of this investor coalition will help bring these innovations to market faster, creating positive, lasting impact.
For questions, please contact Monique Meulemans at monique@pymwymic.com
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