Food Miles, an aggregator of local farms and artisan producers, has attracted a seed round from investment fund TealTech Capital. The round was the first in the company’s history. Representatives of the RB.RU fund did not disclose the amount of the round and the evaluation.
The platform provides services to small and medium-sized agricultural companies in logistics and marketing of products to the main retailers in the network. The service carries out both the supply of the current and seasonal range of products, organizes farmers’ corners in stores.
Food Miles was founded in 2018 by Andrey Gidrevich, who, according to the Unified State Register of Legal Entities, owns 58% of Food Miles LLC. Another 20% now belongs to TealTech Capital, 19.5% to Sergey Dmitriev, 2.5% to Alexander Gorny.
The money will be used to develop the platform in Novosibirsk, Yekaterinburg, Kazan, Samara and other cities of more than a million. Food Miles currently operates in Moscow, St. Petersburg and the Far East.
The company also intends to use the funds raised to search for business managers to work with farmers and retail chains. In addition, the round will go towards developing an IT product to increase the quality and increase the quantity of services for farmers and producers.
The service is used by some 180 farms. Food Miles commission is around 10% in Moscow and St. Petersburg. According to company calculations, farmers’ expenses when working independently with retail chains amount to around 20%.
Author:
karina pardaeva
Source: RB
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