Snact, the United Kingdom’s only snack producer actively working to solve issues around food waste by using surplus produce, this week announced it has successfully closed a seed investment round with the help of ClearlySo, Europe’s leading impact investment bank.
The United Nations Food and Agricultural Organisation (FAO) estimates that one third of all food produced globally is wasted, which has huge economic, social and environmental implications. The UK alone bins £12.5 billion worth of food every year, including over 500 million bananas and 1.6 billion apples.
Snact is providing a unique solution to the global food waste issue by producing healthy and delicious snacks from perfectly good fruit and vegetables that otherwise get rejected in the UK for being too big, too small, too ugly, or simply too abundant. In 2016 alone, Snact forecasts it will save 50 tonnes of food, which is expected to increase to 4,320 tonnes by 2020, equivalent to more than 480 London double decker buses.
By providing a healthy solution to food waste, Snact is positioning itself as the UK’s most responsible snacking option, appealing to both the ethical and health-conscious consumer markets.
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| Image credit: Snact |
According to IIana Taub, co-founder of Snact: “Snactivism is about seeing the best in things and believing that lots of little acts can add up to something meaningful. By using surplus produce, we tackle the causes of food waste so that with every snack you make a positive act toward a better food system."
Snact is about to become even more sustainable. According to a recent tweet on the Snact Twitter account, "Incredible news: we'll be launching TIPA home compostable packaging very soon!"
Michael Minch-Dixon, co-founder of Snact along with Ilana Taub, said: “This is obviously a great moment for us and shows how far we’ve come since we were making snacks ourselves in a rented kitchen in Hackney. Having this will allow us to reach a bigger scale meaning we’ll tackle more food waste and make more healthy snacks for snactivists out there!”
Snact is about to become even more sustainable. According to a recent tweet on the Snact Twitter account, "Incredible news: we'll be launching TIPA home compostable packaging very soon!"
Michael Minch-Dixon, co-founder of Snact along with Ilana Taub, said: “This is obviously a great moment for us and shows how far we’ve come since we were making snacks ourselves in a rented kitchen in Hackney. Having this will allow us to reach a bigger scale meaning we’ll tackle more food waste and make more healthy snacks for snactivists out there!”
Mike Cowell, investment manager at ClearlySo, commented: “Snact has developed a unique product, brand and identity that not only demonstrates great commercial potential but effectively highlights the issues around food wastage in the UK and abroad. It is fantastic to see this clearly resonate with customers and investors, including angels from the food and marketing industries.”
Read more about Snact and Snactivism in this article where Snact was featured as one of 5 London Startups Striving For An Eco-Revolution.
