Copia

Solution Summary

The US, one of the richest countries in the world, has a food distribution paradox. Every day, 365 million pounds of food are wasted, yet 41 million people still go hungry. Copia solves both issues with one simple solution: facilitating the pickup and distribution of excess food.

Copia’s platform allows businesses and event organizers to easily request pickups of leftover food. Once scheduled, Copia’s certified food handlers collect the surplus food and deliver it to local communities in need. The platform tracks businesses’ surplus trends, helps make better buying decisions, and simplifies access to tax deductions.

Market Opportunity

• 40 percent of all food produced goes to waste while one in six Americans and nearly one billion people worldwide are food insecure.
• The food market is $1.4 trillion per year, split between grocery and food services.
• In 2017, the US market for consumer food services reached around US$560 billion. This is expected to increase by just over US$20 billion in 2018.
• Copia’s focus is on food services, specifically the $90 billion per year of food waste from businesses. Their business model offsets pickup and delivery fees with the 30 percent businesses save in taxes.

Highlights

• Graduated from Y Combinator, Winter 2016
• On track to feed two million people this year

Organization Goals

• Pilot usage of Copia’s technology in cities across the US
• Fill expanded seed round, targeting Series A funding round in Q1 of 2019

Existing Partnerships

Copia’s current partnerships include:

• NFL to minimize food waste from Superbowl 50
• 2017 Oscars to minimize food waste
• Piloting Copia’s platform with Four Seasons and Marriott in California with plans to expand nationally

Partnership Goals

Copia seeks:

• Connections to organizations with significant and ongoing excess food: food service providers, hotels, etc.
• Impact investors for both Seed and Series A rounds