FoodBridge, part of Novax, is investing in the company Foodtel, a Swedish tech firm that has developed a platform aimed at reducing food waste in the cold chain.
FoodBridge was founded in 2022 and, since this summer, has become a part of Novax’s focus sector, “The Future of Food.” Through this initiative, Novax consolidates Axel Johnson’s investment activities in the food sector with the ambition to drive sustainable transformation in the food industry. FoodBridge specifically focuses on investing in early-stage food tech companies. Following previous investments in companies such as Petgood, Improvin’, and Mediterranean Food Lab, FoodBridge is now investing in Foodtel.
A significant portion of global food waste is caused by inefficient handling within the cold chain, where temperature fluctuations lead to unnecessary disposal of perfectly good and safe food. Foodtel’s platform is based on validated data from sources like the Swedish Food Agency and RISE, enabling the calculation of remaining shelf life for food products when temperature deviations occur. This creates both economic and environmental value, as stakeholders within the cold chain, such as transporters, wholesalers, or retailers, can use Foodtel’s app to avoid unnecessary food waste.
Through its calculation platform, a marketplace for discounted goods, and a donation portal, Foodtel offers a comprehensive solution to prevent food waste—all centralized in one place to facilitate quick and sustainable decision-making within the cold chain.
The platform was launched in the spring of 2023 to selected food industry players and has already saved over 225 tons of food from being discarded. In addition to preventing food waste, these players have collectively avoided emissions of more than 3,000 tons of CO2e and saved over 20 million SEK.
Sofie Borg, Project Manager at FoodBridge:
“We have been closely following Foodtel since its inception and are deeply impressed by the progress they have made in such a short time and the positive feedback they receive from customers. We have great confidence in both the quality and user-friendliness of their platform. It facilitates smoother communication between different stakeholders while also contributing to reduced climate impact and lower costs. Foodtel is a fantastic tool that significantly reduces food waste in the cold chain.”
Foodtel was founded in 2021 by Jacob Petersson and Nazih Hazime, with the vision to become one of the leading impact companies globally. The investment round was led by FoodBridge and also included Anders Frankel as well as the company’s previous investors.
Jacob Petersson, CEO and Co-founder of Foodtel:
“We are very excited to welcome a strong and strategic partner like Foodbridge and Axel Johnson, with their extensive presence and knowledge in the food sector. We are now more confident than ever that we can expand our effective food waste solution to more players and new markets.”
About Novax:
Novax is Axel Johnson’s investment company and a long-term, active partner for growth companies. By investing in, supporting, and developing small and medium-sized businesses, we contribute to building successful companies and future pillars for Axel Johnson. Novax focuses on four main sectors: Health & Wellness, Technical Security, The Future of Food, and Digital Infrastructure for Retail. Novax’s investments include companies such as ApoEx, Apohem, Bruce, Datema, Filippa K, Hedvig, Matsmart, Personalkollen, Prolupin, RCO, STC, and Voyado. www.novax.se
About Axel Johnson’s Food Operations:
Axfood is a leading group within the Swedish grocery trade, consisting of a family of distinctive food concepts that collaborate, including Willys, Hemköp, Dagab, and Urban Deli. www.axfood.se
Martin & Servera is Sweden’s leading specialist in restaurant and large-scale catering, delivering daily beverages, fresh produce, food products, equipment, and services to restaurants, cafés, shops, bars, and large kitchens. www.martinservera.se
