OXO weighs investment in Munch
OXO Technologies on Friday said its board voted to start investment talks with Munch Europe, which has developed a platform for restaurants to sell their surplus food, according to a report by state news wire MTI.
OXO is considering a EUR 500,000 investment in the startup, part of a EUR 1.2 million funding round.
Munch's website and mobile application match retail consumers with catering businesses that need to sell the surplus. The platform allows consumers to make purchases at discounts up to 40-50% while preventing food waste.
Launched in 2020, Munch has over 450 business partners, and more than 80,000 people have downloaded its app. Over 5,500 people actively use Munch each month.
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