Thinking

How we raised £3 million, and couldn’t have done it without you

4th February 2016

This week, we’re ridiculously delighted to announce our latest investment of £3 million by the co-founder of Skype Niklas Zennström. Our founder Ben spills the homegrown beans about how 2016 will be a game-changing year for fixing the food chain.

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“We’re at the end of the supermarket era.” These are the brilliant words of our latest and biggest investor, Niklas Zennström. As reported in The Times yesterday, we have just closed a £3m investment round led by him on behalf of his investment company, Atomico.

Thankfully, he sees the beauty of our ambitious business model and what drives me and the team here everyday. We’ve had such wonderful encouragement over the last 24 hours (huge thanks everyone!) and this is a hugely positive moment for everyone connected to Farmdrop.

This investment round will enable us to take a quantum leap forward in terms of how both you, our incredible customers, and amazing producers experience Farmdrop. As a business, we are completely mission driven (see our graphic below), and the realisation that the food system can be fixed using technology is our lifeblood.

It’s likely you’ve heard me say this before, but for those sitting at the back…in my eyes it’s plain to see that the food industry in this country is completely broken. Too much power belongs to a select few who treat farmers and producers badly, whilst offering consumers chemically-preserved, tasteless food. Our team is on mission to fix the food chain by supporting local independent producers – by giving them 75% of the retail price (vs. half this amount via conventional retailers) – who in turn look after our environment and make better food that keeps us healthy. And around and around it goes. It’s not a chain, it’s a sustainable food system, which we all badly need.

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How Farmdrop can fix the food chain (illustrated with the help of producer farmer Andy Clarke and his Park Farm in Kent, and my boy, Wolfi). 

When it comes to the future of our food, it’s crystal clear to me that we absolutely must support our nation’s independent producers. After six decades of supplying supermarkets, they are struggling. Many producers are desperate to find something like us because they’ve given up on the conventional supply chain. We believe everyone deserves a more delicious world and this latest investment will help us continue to improve what we do, how we do it, and shape the future of food.

The two most important things about any organisation are its people and its mission. Moreover, the DNA of any company is affected by its investor base and that’s why we’re all so thrilled to welcome Niklas and Atomico. They care deeply about the future of our food system. For Niklas: “Farmdrop is demonstrating huge ambition by disrupting the established food chain and addressing the growing concerns many of us have about the quality and provenance of our food. We’re proud to become an investor.”

There’s no doubt that we only would have reached this point with the belief and trust of early supporters – the passionate people who produce food, our earlier investors (all 360 of them!), our team and of course, our customers – you. Thank you for propelling us on our mission with your custom and support. 2016 is going to be a full-throttle ride of a year – so just watch this space.

You can read the full article “Getting the drop on the supermarkets in a digital age” on The Times online.

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