Food waste is a pressing global issue, with approximately one-third of all food produced annually going to waste. This not only leads to significant economic losses but also exacerbates environmental challenges. Addressing this concern, OneThird, an Enschede-based food tech startup, has developed cutting-edge AI-powered solutions to predict the shelf life of fresh produce, thereby reducing waste across the supply chain. 

Founded in 2019 by Marco Snikkers, OneThird has emerged as a pioneer in leveraging artificial intelligence and near-infrared (NIR) spectroscopy to tackle food waste. The company’s name reflects the alarming statistic that one-third of all food produced is wasted, highlighting its commitment to addressing this global challenge. 

By providing real-time shelf-life predictions, OneThird empowers stakeholders across the fresh produce supply chain to make informed decisions, ultimately reducing waste and improving profitability.

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Funding Details

OneThird announced the successful completion of a €3.5 million Series A funding round led by Invest International, with significant contributions from existing investors Pymwymic, SHIFT Invest, and Oost NL. This latest investment brings the company’s total capital raised to €9.25 million. 

OneThird said the financing is aimed at growing its unique AI and sensor technology, which is to further its product road map and operational capacity to benefit all stakeholders within Europe and North America’s fresh produce supply chains.
The company made another announcement-the appointment of Henrike Langbroek as Chief Executive Officer as it announced its new funding.

Langbroek expressed, “I am thrilled to join OneThird at this exciting juncture and work with the team to make a measurable difference in reducing global food waste and creating a more efficient and sustainable food system for the future.” 

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The Global Food Waste Crisis

The Food and Agriculture Organization of the United Nations estimates that around 1.3 billion tonnes of food are wasted globally every year, accounting for about one-third of all food produced for human consumption. This waste happens at different stages of the supply chain, from farm to table, and has significant economic, environmental, and social implications. Reducing food waste is important for improving food security, conserving resources, and mitigating climate change.

OneThird’s Innovative Solution

OneThird addresses the challenge of food waste by offering real-time shelf-life predictions for fresh produce. With AI-powered NIR scanning technology, the company allows farmers, distributors, retailers, and consumers to make informed decisions about handling and consuming perishable goods. Some of the features of OneThird’s solution are as follows:

• Real-Time Shelf-Life Prediction: It can accurately predict the remaining shelf life of produce, thereby allowing stakeholders to optimize logistics and reduce waste.
• Non-Destructive Testing: Use NIR spectroscopy to test for produce quality that does not break the foodstuff.
• Data Analysis: Analyse data to show actionable insights toward decision-making based on waste.
  With these above features, OneThird enables each supply chain involved to be actively in charge of produce quality as well as its shelf life thereby reducing food wastes by considerable rates.

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Effectiveness and Milestones

From inception, OneThird has made profound impacts in food waste prevention and reduction.

From its headquarters in London, it has spread technology to 10 countries, looking to expand as fast as it can into the new geographies. The companies participating in it have reduced wastage and higher revenues, mostly on high value products like avocado. 

OneThird’s solution supports a growing list of produce, including avocados, blueberries, strawberries, and tomatoes, with ongoing efforts to expand its applicability to a wider range of fruits and vegetables. 

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Future Outlook

 With the recent funding, OneThird is poised to accelerate its growth and enhance its technological offerings. The company plans to:

• Expand Technology Deployment: Scale its retail store scanners and other technologies to new markets across Europe and North America.
• Advance Product Development: Accelerate its product roadmap to introduce new features and support additional types of produce.
• Strengthen Partnerships: Collaborate with stakeholders across the supply chain to integrate its solutions and maximize impact.

By focusing on these objectives, OneThird aims to make a measurable difference in reducing global food waste and creating a more efficient and sustainable food system for the future.