UK snack producer Snact has successfully closed a seed investment round with the help of impact investment bank ClearlySo.
Snact actively works to tackle food waste by producing healthy snacks using surplus fruit and vegetables that would otherwise be rejected for being too big, small, ugly or simply too abundant.
The company predicts that in 2016 alone it will save 50 tonnes of food, and expects this to increase to 4,320 tonnes by 2020 – equivalent to over 480 double-decker buses.
“This is obviously a great moment for us and shows how far we’ve come since we were making snacks ourselves in a rented kitchen in Hackney,” said Michael Minch-Dixon, co-founder of Snact. “Having this will allow us to reach a bigger scale meaning we’ll tackle more food waste and make more healthy snacks for snactivists out there!”
Added Mike Cowell, investment manager at ClearlySo: “Snact has developed a unique product, brand and identity that not only demonstrates great commercial potential but effectively highlights the issues around food wastage in the UK and abroad. It is fantastic to see this clearly resonate with customers and investors, including angels from the food and marketing industries.”
