On the latest episode of The Disruptors, Toronto-based Flashfood pitched its platform that aims to help grocery stores make money off surplus food, while also alleviating a social issue.
Flashfood’s mobile platform allows grocery stores to sell surplus food at a discount, rather than throwing them out. Customers receive a notification when a food product goes on sale, and can purchase the food through the app and pick it up in the grocery store’s Flashfood section.
“When food gets thrown out, it typically gets put in a landfill covered by other garbage, and when it rots it produces methane gas. So the statistic is if international food waste were a country, it would be the third-leading cause of greenhouse gas emissions behind the US and China,” said Josh Domingues, founder and CEO of Flashfood. “We’re taking retail grocery, which is a really old, almost archaic industry, and flipping it a little bit with technology.”
The company raised a $1.5 million seed round in 2015, and won the $140,000 top prize at Startupfest in July 2017.
Co-host Amber Kanwar pointed out that the company is doing a social good, even if it’s not a non-profit.
“Making do with the things we already have, and making everything go further. Uber, Airbnb, existing inventory, being more efficient. The most basic human need is food. What a brilliant use of technology,” said co-host Bruce Croxon.
Watch the full pitch below:
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