Misfits Market raises $16.5 million for their ‘ugly’ produce subscription box
As grocery shopping moves online, one piece of the puzzle hasn’t been directly addressed: fresh fruits and vegetables. That also happens to be a category in which there is a ton of food waste, with a good deal of fruits and veggies never making it out of the grocery store to begin with.
Misfits Market has raised $16.5 million in Series A to handle just that.
Greenoaks Capital led the round, but Misfits isn’t disclosing other participants in the financing. Other Greenoaks Capital investments include Deliveroo, OYO, Clover Health, Brex, and Discord.
Misfits Market offers a subscription box of ‘ugly’ fruits and veggies, the ones with blemishes or odd shapes that make a grocery shopper think twice before checking out, each week.
Misfits sources these fruits and veggies straight from farms. This means that the extra time spent shipping them to a grocery store, and then sitting on shelves, is eliminated from the equation with Misfits.
The company currently operates in all zip codes in Pennsylvania, New York, New Jersey, Connecticut, Delaware, Massachusetts, Vermont, New Hampshire, Rhode Island, Maine and Ohio, with plans to expand into Washington D.C., Maryland, Virginia, West Virginia, North Carolina, South Carolina, Georgia, and Florida.
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