Tech startup Winnow has closed a $3.3m Series A funding round led by Mustard Seed and D-Ax.
The London-based startup, known for its smart meter technology which helps chefs reduce food waste by 50%, also drew investment from a series of private investors.
Having launched in May 2013, Winnow — which has raised $4.3m in cumulative funding to date — claims to have saved its customers $3m per annum.
Kevin Duffy, Winnow co-founder and CEO, told Tech City News: “As early stage companies we want to spend as much time as possible delivering value for our customers to fuel our growth. Although we’ve had a fantastic response in this round, seeking and gaining investment can be time consuming which can be a challenge.
“We are very pleased with the outcome of this round and are now focused on developing our product further, helping our customers increase their profitability by driving down food waste.”
The funds, a statement said, will be used to help the company scale domestically and build an international presence. Winnow is also planning to pour some of its newly procured funds back into its product.
Commenting on any future launch plans, Marc Zornes, founder and CEO, told Tech City News: “Our product is scalable and has application in almost every professional kitchen. Right now we are prioritising the markets we enter based on existing customers’ demands. They have seen real commercial value in driving down food waste and we look forward to supporting their operations around the world. By the end of the year we fully expect to have a truly international presence.”
Winnow is currently operating in the UK, Ireland, Singapore, China and Thailand.