The burgeoning “ugly food” market is gaining steam, with New York-based today announcing it has raised $16.5 million in a series A round of funding led by Greenoaks Capital.
Around a third of food produced globally each year is either lost or wasted, the United Nations’ Food and Agriculture Organization. In the U.S. specifically, as much as 40% of food produced , according to the Natural Resources Defense Council — which is why companies such as Misfits Markets have come to the fore.
The premise is simple: Many consumers don’t like buying imperfect food — be that a wonky strawberry or deformed carrot — but Misfits Market helps find a home for such produce via a subscription-based direct-to-consumer marketplace.
There is the “mischief box,” which