Our next guest is tackling the food waste problem where nearly 25% of fruits and vegetables are lost globally, and a shocker to some North America is among the global regions with the highest level of food waste. For the company Apeel — mitigating food waste is a multi trillion dollar market opportunity they’re working on, made even more critical by the pandemic.
To keep fruits lasting longer, Apeel has engineered an edible coating product made from plant materials that can make fruit last two to three times as long and is today is commercially available for avocados, organic apples and citrus fruits (mandarins, lemons, limes, finger limes).
The idea has attracted a number of high-profile investors, including celebrities Katy Perry and Oprah Winfrey, Singapore’s SWF GIC, the Wojcicki sisters, Andreessen Horowitz and today Apeel’s valuation is just about $2 billion. I chat with my friend, James Rogers, Founder & CEO of Apeel when we were together in Oklahoma City about his journey over the last decade, and how he’s finally getting closer to his why in the first place.
ABOUT DR. JAMES ROGERS
Dr. James Rogers is Founder and CEO of Apeel, a company that’s fighting the global food waste crisis by using materials found in nature to help food last longer — a sustainable approach to enable a more abundant future for the entire supply chain. Apeel’s mission has enabled Dr. Rogers to learn from and collaborate with thought leaders from all segments of the global food system. Founded in 2012, Apeel works with a global network of suppliers to serve retail customers across the globe with longer-lasting organic and conventionally grown produce, ensuring a fresher experience for customers at home. Apeel also invests its expertise in biological and data science toward helping retailers solve their fresh challenges and securing new opportunities for growth.
Read more about Apeel’s work:
P.S IF YOU ENJOYED THIS EPISODE, I RECOMMEND THESE EPISODES:
1. NIR EYAL ON GETTING USERS HOOKED & BEING INDISTRACTABLE. HINT: TO-DO LISTS ARE CANCELLED!
2. FAILING IN PUBLIC & BILLION DOLLAR AMBITIONS: WITH VIVY YUSOF, CO-FOUNDER, FASHION VALET GROUP
3. SCALING TO A $4.2 BILLION BUSINESS WITH NICOLE SAHIN, FOUNDER & CEO, GLOBALIZATION PARTNERS (G-P)
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Disclaimer: This podcast is an expression of personal opinion and does not represent the opinion of the host Sarah Chen-Spellings (SCS) as an investor personally, her firm Beyond The Billion (BTB) or any company discussed. These discussions are for informational purposes only, including any mention of securities or venture funds; and does not constitute any investment, legal, tax advice. SCS or BTB may hold currently, or in the future, direct or indirect interests in the featured companies or funds. No guarantee of any kind is implied or possible where projections of future conditions are attempted.