Atlanta food rescue startup Goodr Inc. has raised $8 million, according to a filing with the Securities and Exchange Commission, likely the single largest investment round for the 5-year-old company.
As part of the raise, the company also received debt financing from Atlanta Emerging Markets, Inc., a community development entity created by economic development agency Invest Atlanta, for $300,000.
The loan is designed to assist with hiring in the Atlanta area specifically. The company's goal is to bring 35 new jobs to the market, according to CEO Jasmine Crowe.
Goodr is part of a food waste management industry set to surpass $83.2 billion by 2030, according to market research firm Reportlinker.com. The private sector will play a critical role in reducing excess food supply from grocery stores, restaurants, and suppliers, according to a 2018 analysis by the Boston Consulting Group. Food waste could become a $1.5 trillion problem by 2050, the report said.
A Goodr representative reached on Friday declined to offer more details about the company's latest raise. It included 31 investors, according to the filing.
Goodr raised $1.25 million in 2018 led by Precursor Ventures and supported by Trail Mix Ventures, Halogen Ventures, Techstars Ventures. In 2021, it raised $1.5 million from Capital One Ventures, Backstage Capital, Unreasonable Ventures, and the Laurene Powell Jobs-helmed Emerson Collective.
Goodr has several facets of the company that it has been expanding. It has a free grocery store in Lutheran Towers, a senior resident community located in Midtown.
Goodr also runs an app where partnered companies can request the startup to pick up excess food, which then gets donated to a nonprofit.
In 2019, Goodr partnered with Atlanta delivery service Roadie to expand distribution of food products.
Goodr has garnered national media coverage.
It's part of a wider universe of global startups that have emerged in recent years to tackle food waste. Berlin-based meal kit company HelloFresh uses Spoiler Alert software to analyze waste and suggest reduction tactics. Oregon-based LeanPath has similar services while adding a camera to store images of what is being wasted.
Earlier this year, Goodr opened a new headquarters in West Midtown. Launched in 2017, Goodr uses a blockchain-based digital platform to track an organization’s surplus food waste from pickup to donation.
The organizations can achieve tax deductions by working with Goodr. As of 2019, Goodr said companies using its platform had donated nearly 2 million pounds of food and saved nearly $8 million in tax benefits.
Earlier this month, the company was one of seven companies nominated under the Social Impact category for Atlanta Inno’s 2022 Fire Awards. In 2019, CEO Jasmine Crowe was one of the Atlanta Business Chronicle’s 40 Under 40 honorees.
Correction: A previous version of this article stated that the raise was $7.8 million. It has been updated to state the raise was $8 million including a $300,000 debt financing.
A previous version of this article misstated Goodr's partner companies.
