Dive Summary:
- Food scrap and compost startup, EcoScraps, announced a $1.5 million Series A venture round.
- The Utah based company collects food waste from grocery stores and uses it to manufacture organic lawn and garden products.
- Investors included Utah based KickStart and Peterson Ventures. California based DBL Investors also participated in the round.
From the press release:
EcoScraps Offers Sustainable Solution to Food Waste by Repurposing Leftover Fruits and Vegetables
EcoScraps, a leading provider of organic, chemical- and manure-free lawn and garden products, today announced it received $1.5 million in series A venture financing. The round's lead investor was Utah-based KickStart. Other institutional investors included California-based DBL Investors and Utah-based Peterson Ventures.
"This represents a significant round of financing for EcoScraps and will be used to expand our products into new markets, continue developing our line of products, and attract new talent to our growing team," said EcoScraps CEO and co-founder Dan Blake. "Americans generate more than 30 million tons of food waste each year. Our company offers a sustainable solution to repurposing leftover fruits and vegetables."
EcoScraps diverts produce waste taken from local grocery stores and restaurants away from landfills, and turns it into compost and other lawn and garden products. The company's no-chemical, no-poop products are not only sustainable and contain twice the amount of essential soil nutrients than typical manure- and chemical-based soil products on the market, but are safe for kids and pets too.
