Cologne-based Foodforecast has announced an €8 million Series A funding round. The company develops artificial intelligence-based solutions to improve demand forecasting and production of fresh food, with the goal of significantly reducing food waste.

Funding Details

The round was co-led by SHIFT Invest and the European Circular Bioeconomy Fund (ECBF), with participation from existing backers such as Future Food. The funds will be used to expand Foodforecast's operations across Europe.

Foodforecast's Approach

The company focuses on optimizing the supply chain for food products with a short shelf life. By using machine learning algorithms, Foodforecast aims to more accurately predict demand, thereby reducing the amount of unsold food that ends up being wasted. This approach not only has a positive environmental impact but can also improve profitability for producers and retailers.