Danone Manifesto Ventures is investing in French tech start-up Phenix to combat food waste and promote a circular economy. The move will expand the capabilities of Phenix’s consumer mobile app and its B2B reach in the food and beverage industry. Danone Manifesto Ventures will be joining existing investors such as ETF Partners, BPI France, Sofiouest and INCO.
“Our ambition is that in a few years, wasting food and products will not be acceptable and waste reduction practices will become the simple and effective norm. With Danone Manifesto Ventures’ support, we can invent tomorrow’s food system in an environmentally respectful and socially just manner,” states Jean Moreau, Phenix Co-Founder and President.
Phenix offers four alternatives to food waste:
Donations to charities.
Donations for animal feed.
Upcycling.
Sales at an average of 50 percent discount in the Phenix mobile application.
After downloading the Phenix app, users can choose a vicinal store and food category matching their dietary preferences (vegetarian, organic, halal, etc.) Once online payment is complete, users can then take their baskets home from the local shop during the indicated pick-up times.
Mobile apps similar to Phenix’s that take a stand against food waste have quickly gained popularity in the past five years. In the same arena, US-based Meijers’ Flashfood and Dutch-founded Too Good To Go provide alternative ways for shoppers to purchase groceries and other pantry items that otherwise would go to waste having reached their expiry date.
In a bid to shape a world without waste, Phenix has saved more than 100 million meals through its network of professionals, NGOs and committed citizens since 2014. The company continues to work daily with more than 1,300 associations helping associated businesses with the distribution of their unsold products.
Phenix warns, however, that this is still not enough to eliminate waste, given 40 metric tons of food are still thrown away per second throughout the world. Recently, the US Center for Biological Diversity slammed the nation’s grocery sector in a report for lack of food waste oversight and its “slow road to zero” waste.
Therefore, Moreau views Danone Manifesto Ventures as a critical strategic partner to promote new waste practices globally. “Beyond their financial investment, we are bringing on board a renowned company with iconic brands and together we will lead a movement aimed at changing consumer habits.”
Investing back into the industry
Danone Manifesto Ventures launched in 2016 to support the growth of innovative food and foodtech companies and partner with entrepreneurs for a healthy and sustainable future.
“Food waste reduction is one of the major challenges that companies, NGOs, governments and consumers need to address collectively to promote a more sustainable and ethical food system. Danone has made this challenge a priority for many years through local and global initiatives,” says Laurent Marcel, CEO of Danone Manifesto Ventures.
In the past, Danone Manifesto Ventures invested in US start-up Sustainable Bioproducts (SBP) and its plans to develop an innovative fermentation technology, which can grow protein from organisms that live in Yellowstone National Park’s volcanic springs with great nutritional value and minimal impact on the environment.
The Danone venture arm has also targeted start-up firms in health drinks, snacks, baby food and alternative protein sector, such as frozen organic baby food start-up Yooji and dairy-free protein and premium coconut water company Harmless Harvest.
“We are enthusiastic about the opportunity to work with Phenix to execute our collaboration efforts both in France and across Europe to increase our social and environmental impact while supporting the growth of a unique start-up,” adds Paul Chifflet, Director, Danone Manifesto Ventures Europe.
