Our investment into Fullsoon: A French-based startup leveraging AI to help restaurants reduce food waste.
Food waste has become one of the biggest environmental issues and contributors to greenhouse gas emissions. The food we throw away releases huge quantities of methane gas, 25x more potent than carbon dioxide. In addition to contributing to climate change, food loss is a waste of the natural resources that were used to produce it, including energy, water, and fuel. There are currently more than 800 million people facing hunger worldwide and yet, about one-third of global food supplies are wasted or lost. Food companies are under greater scrutiny to reduce their carbon footprint and address the issues related to the industry.
AI: How technology can help to cut down food waste
Fullsoon is an innovative startup that is leading the change, and has come up with an original solution to solve this challenge. Based out of France, Fullsoon is a real decision-making tool that anticipates sales, optimizes the management of stocks and accelerates the development of establishments. It combines data with external parameters such as weather forecasts, and cultural and sports events with internal data such as historical sales, to help restaurants increase their profit margins, reduce costs and drastically reduce food waste, all packaged through a SaaS platform.
Restaurants are able to receive accurate predictive data in advance regarding their occupancy rate, the types of meals that will be ordered, and the ingredients needed to prepare those meals. This enables restaurants to anticipate their stock levels, receive key information related to market trends, clear guidelines on how many waiters and cooks they would need, and even insights on how to grow their business. Fullsoon can provide forecasts with up to 94% accuracy and help restaurants increase their gross margins by up to 8%.
Tackling food waste, reducing costs, taking climate action: A triple win opportunity
Led by siblings, Hassan-Ali Chaudhary (CEO), Misba Chaudhary (COO) and Tayeba Chaudhary (CCO), their mission is to transform data into a lever for growth. With collaborative action across supply chains, reducing food waste at home, a few key behavior changes by consumers, and policies that keep food out of the landfill, we can have a huge impact on the triple planetary crisis, with benefits across the 2030 Agenda for Sustainable Development.
Why we invested
Satgana is proud to lead the investment into Fullsoon's Pre-Seed round. Anil Maguru, Investment Director at Satgana says: “When I first met Hassan and he told me about his adventure with his sisters, Tayeba and Misba, I was blown away by their motivation, achievements, values, but above all, their commitment to the fight against waste”.
Tackling the scourge of food loss and waste represents a triple win opportunity - for the climate, for food security, as well as for the sustainability of our food systems - and cannot be put on the backburner at a time of rising global hunger and surging food prices. Prioritizing the reduction of food loss and waste is therefore critical for the transition to sustainable agrifood systems that improve the efficient use of natural resources, lessen their impact on the planet and ensure food security and nutrition.
About Fullsoon
France-based Fullsoon, is a startup leveraging AI to help restaurants reduce food waste, a major contributor to global greenhouse gas emissions. Fullsoon is a real decision-making tool that anticipates sales, optimizes the management of stocks and accelerates the development of restaurant establishments.
Website: https://fullsoon.co/