# Good for Food Pte.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/good-for-food-pte

- Industry: Environmental Services
- Headquarters: Singapore, Singapore
- Website: www.lumitics.com
- Total disclosed funding: $0.6M
- Latest round: Seed (Jul 29, 2019)
- Investors on record: 3

## About

Good for Food Pte. Ltd. specializes in innovative food waste management solutions, primarily targeting the food and beverage industry to enhance operational efficiency and sustainability through advanced technology.Founded in 2017 and headquartered in Singapore, Good for Food Pte. Ltd. focuses on providing food waste management solutions. The company has secured a total of 3 deals, with its most recent funding round occurring in December 2021, when it raised USD 0.77 mn in Seed funding, valuing the company at USD 5 mn post-money. The co-founders, Adriel Tan, Keshav Sivakumar, and Rayner Loi, have collectively contributed to the company's direction, with Rayner Loi serving as the CEO.Good for Food Pte. Ltd. offers a comprehensive food waste management solution tailored for the food and beverage industry. Their flagship product, Insight, integrates into existing kitchen workflows, enabling users to track and measure food waste using weight sensors and proprietary image recognition technology. This solution provides actionable insights that help operators in hotels, airlines, cruise ships, and dining halls enhance food management processes and reduce waste and costs. The firm markets its products globally, targeting facilities that manage substantial food production.In the most recent year, Good for Food Pte. Ltd. reported a revenue of USD 531,115.50, with an EBITDA of USD 381,572.80. The company generates revenue primarily through B2B transactions, offering subscription services for the Insight product, which delivers ongoing support and data analytics functionalities to clients. Partnerships are structured to ensure a significant return on investment, reported to range from 200% to 1000% within the first year of use, with pricing tailored to meet varying client needs.Good for Food Pte. Ltd. plans to utilize the recent Seed funding of USD 0.77 mn raised in December 2021 to expand the development of new products and enhance existing services. The company is focusing on entering additional markets within Southeast Asia and Europe by the end of 2024. Through this strategic expansion, Good for Food Pte. Ltd. aims to strengthen its market presence and increase its customer base, thereby harnessing the growing demand for effective food waste management solutions.

## Funding rounds

- Seed, Jul 29, 2019, $0.6M — Wavemaker Partners, Startup-O, ReadyVentures

## Investors

- Wavemaker Partners (https://capitalatlas.ai/funds/wavemaker-partners) — Seed
- Startup-O (https://capitalatlas.ai/funds/startup-o) — Seed
- ReadyVentures (https://capitalatlas.ai/funds/readyventures) — Seed