FoodBridge, a subsidiary of Novax focused on future food solutions, has announced an investment in the startup Foodtel, a Helsingborg-based tech company. The startup, that was previously called Sustainable Food Waste, is specializing in reducing food waste within the cold chain. This investment, reported to be € 1.3 million by Swedish Tech News, is part of Novax’s broader strategy to drive sustainable transformations within the food industry.
Founded in 2021 by Jacob Petersson and Nazih Hazime, Foodtel has developed a platform that leverages data from authoritative sources like the Swedish Food Agency and RISE. This platform enables the calculation of remaining shelf life for food products affected by temperature deviations, providing both economic and environmental benefits. By ensuring that food items are not prematurely discarded, Foodtel’s technology facilitates more sustainable practices in the distribution of perishable goods.
The platform, launched in spring 2023 to selected food industry stakeholders, has already prevented over 225 tons of food from being wasted. This achievement translates into avoiding more than 3,000 tons of CO2 equivalent emissions and saving over 20 million SEK.
“We have been closely monitoring Foodtel since its inception and are deeply impressed by the rapid progress they have made and the positive feedback from their customers. We believe in the quality and user-friendliness of their platform, which enhances dialogue among stakeholders and significantly reduces both climate impact and costs. Foodtel is an outstanding tool that drastically reduces food waste in the cold chain.”
says Sofie Borg, Project Manager at FoodBridge
The investment will enable Foodtel to enhance its production capabilities and further develop its product offerings.
“We are thrilled to welcome a strong and strategic partner like FoodBridge and Axel Johnson, with their extensive expertise and presence in the food sector. This partnership strengthens our confidence in expanding our efficient solution to more operators and new markets.”
said Jacob Petersson, CEO and co-founder of Foodtel.
This funding round, led by FoodBridge, also included contributions from Anders Frankel and previous investors, supporting Foodtel’s mission to become a global leader in impact-driven enterprises.
Novax, the investment arm of Axel Johnson, supports the growth and development of small to medium-sized companies, contributing to the success of the Axel Johnson group’s broader business ecosystem. Its investments span various sectors, including health and wellness, technical safety, future food solutions, and digital infrastructure for retail.
