Total amount raised
$2 Billions
Latest funding date
08/01/2021
Location
Title
Apeel Sciences has successfully raised $640.1 million over eight funding rounds, achieving a valuation of $2 billion. The company focuses on using natural materials to create a protective extra peel for fruits and vegetables, extending their freshness and reducing waste.
Keep reading to explore the intricacies of Apeel Sciences' fundraising journey and the investors backing this innovative platform.
What Is Apeel Sciences?
Apeel Sciences, founded in Goleta, California, focuses on improving food quality and reducing waste by creating a protective extra peel for fruits and vegetables.
Using materials from the peels, seeds, and pulp of produce, Apeel Sciences extends the freshness, nutrition, and taste of fruits and vegetables, helping to reduce food waste throughout the supply chain.
With a team of 501-1000 employees, Apeel Sciences is dedicated to ensuring an abundant future for the planet by making fresh produce more accessible and affordable.
How Much Funding Has Apeel Sciences Raised?
- Series E Funding Round
- Amount Raised: $250 million
- Date: August 18, 2021
- Lead Investors: Temasek
- Valuation at Round: $2 billion
- Motivation Behind the Round: To speed up the availability of longer-lasting produce in the U.S., U.K., and Europe, and to advance data and insights offerings and future acquisitions.
- Series D Funding Round
- Amount Raised: $250 million
- Date: May 2020
- Lead Investors: Singapore's government, Oprah, and Katy Perry
- Valuation at Round: Over $1 billion
- Motivation Behind the Round: To expand operations and work with large farming companies and growers in Africa, Central America, and South America. The goal is to maintain a 52-week supply on shelves by having operations in both the Northern and Southern hemispheres.
- Series C Funding Round
- Amount Raised: $30 million
- Date: October 27, 2020
- Lead Investors: International Finance Corp. (IFC), Temasek, and Astanor Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To finance the international rollout of Apeel's technology to emerging markets, aiming to alleviate food insecurity and poverty among small farmers.
- Initial Grant
- Amount Raised: $100,000
- Date: Not specified
- Lead Investors: Gates Foundation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial technology for extending the shelf life of produce.
Total Amount Raised: $780.1 million. Current Valuation: $2 billion.
Key Investors
- Temasek
- Details: Temasek is a global investment company headquartered in Singapore. It focuses on delivering sustainable returns over the long term.
- Investment Focus Areas: Technology, life sciences, consumer.
- Notable Investments: Impossible Foods, Gojek.
- Andreessen Horowitz
- Details: Andreessen Horowitz is a private venture capital firm based in Silicon Valley. It invests in technology companies at various stages.
- Investment Focus Areas: Technology, software, consumer internet.
- Notable Investments: Facebook, Airbnb, Lyft.
- International Finance Corp. (IFC)
- Details: IFC is a member of the World Bank Group, focusing on private sector development in less developed countries. It aims to reduce poverty and promote sustainable development.
- Investment Focus Areas: Private sector development, emerging markets, sustainable development.
- Notable Investments: Various sectors including infrastructure, manufacturing, agribusiness, and services in emerging markets.
- Oprah Winfrey
- Details: Oprah Winfrey is a media mogul and philanthropist known for her influential talk show and various business ventures. She has a significant impact on media and entertainment.
- Investment Focus Areas: Media, health, wellness.
- Notable Investments: Weight Watchers, O, The Oprah Magazine.
- Katy Perry
- Details: Katy Perry is a globally recognized pop singer and songwriter. She has ventured into various business investments beyond her music career.
- Investment Focus Areas: Entertainment, technology.
- Notable Investments: Bragg Live Food Products, Popchips.
What's Next for Apeel Sciences?
As Apeel Sciences looks to the future, the opportunities are vast. The company plans to expand its supply networks in the U.S., U.K., and Europe, integrating advanced imaging systems for quality control. With a focus on reducing food waste, Apeel aims to co-create additional supply networks and form new partnerships with retailers and suppliers, potentially treating millions of pieces of fruit annually.
Given the significant market opportunity, future fundraising seems promising. The recent $250 million Series E funding round indicates strong investor interest, and further rounds could support Apeel's global expansion and technological advancements. However, challenges such as scaling operations, navigating regulatory environments, and convincing more retailers to adopt their technology remain. As the industry trends towards sustainability, Apeel's innovative solutions position it well for continued growth and success.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay's platform to access comprehensive fundraising data on companies like Apeel Sciences and gather other critical business insights.
Sign up for free on Clay and elevate your sales strategy with unparalleled data and insights.
