Hors Normes, a Paris-based anti-food waste start-up, announced on Thursday that it has raised €7 million in a funding round from German VC Project A and existing investor Stride. CV. The company has raised €8.5 million in funding to date.
Use of funds
Hors Normes says it plans to use the funds to expand its operations to five new cities in France by the end of 2023, with an expected opening by December 2022. The French company also intends to expand its operations to other European cities in Germany, Spain and Italy.
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Part of the proceeds will go to expanding the range of grocery products refused by traditional retail brands – from 30 to 500 references by the end of 2023.
This last capital will also allow Hors Normes to develop new functionalities to promote the personalization of the basket, to create a new mobile application and to recruit 40 employees by the end of 2022.
Sven Ripoche, co-founder of Hors Normes, says:“This second round of financing marks the beginning of a new stage in the expansion of Hors Normes. In just two years, we managed to gain more than 7,000 customers and save more than 400 tons of food products. We want to pursue our mission: to reduce food waste and make good quality products accessible to all. To do this, expanding our presence in France and internationally and increasing our range of safeguarded products will be our priorities for the next 24 months. Our action also has a positive social impact on French producers since Hors Normes is an additional source of income for them.
Non-Standards: What you need to know
Grégoire Carlier, Sven Ripoche and Claire Laurent founded Out of Standards in 2020 to help French organic farmers and producers sell their products directly to consumers in the event of refusal by traditional distribution channels.
The company recovers the “rejected” part of the stocks from the producers and offers its products for sale directly to consumers at prices up to 40% lower than those in organic stores.
“Economically, it’s a win/win relationship, which also has the merit of helping to reduce the carbon footprint of our food since food waste alone accounts for nearly 8% of greenhouse gas emissions in the world. “, specifies the company.
The company has already won over more than 7,000 regular consumers in the Paris region, Lyon and Marseille and saved 400 tonnes of fruit and vegetables since its launch. In 2021, the company multiplied its turnover by 7, and Hors Normes has already tripled it in the first half of 2022.
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