One-third of all food is wasted before it decomposes in your fridge, according to the UN.
That terrible statistic is one reason leading VCs and celebrities have invested in supply-chain food loss prevention companies. Apeel coats produce, Shelf Engine predicts order volume with AI, and Misfits Market sells “ugly” produce.
Another startup focused on the issue is PureSpace. Its team developed filtration technology to reduce food loss in refrigeration trucks and food storage facilities. Busan, South Korea-based startup filters air ethylene.
As they ripen, bananas, strawberries, avocados, tomatoes, and other produce release ethylene. Fruits and vegetables can age faster when this plant hormone accumulates in the air.
To prevent premature spoilage, PureSpace co-founder and CEO Sunyoung Lee told by phone that the company’s chemists spent four years “trial and error” developing a catalyst that decomposes ethylene into CO2 and water. The startup claims its filters remove 99.5% of ethylene in refrigerated trucks in 2 hours and are “50 times stronger than previous technologies”.
PureSpace is a South Korean subscription-based startup in the Startup Battlefield 200 at Disrupt 2023. It tested its tech with Samsung, Walmart, and top South Korean grocery stores.
Lee tells the company raised $4 million Series A just recently. It hopes to raise $10 million in Series B funding later this year to expand into the U.S.