Thursday, March 28

Tag: Karma

Swedish-startup Karma Raised $12 million in Series A Funding
FUNDING

Swedish-startup Karma Raised $12 million in Series A Funding

Swedish-startup Karma which is an app that connects restaurants, cafés and grocery stores with users eager to purchase unsold food at a lower price has secured $12 million in Series A funding. The funding round was led by Kinnevik, a Swedish investment firm. The round also saw the participation of investors like U.S. venture capital firm Bessemer Venture Partners, appliance manufacturer Electrolux, and existing investor VC firm e.ventures. With this funding, the company plans to expand from 35 people based in Stockholm to over 100 across 5 markets by the end of next year and over 150 by mid of 2020. Following this funding round, the total funding amount of the company as of now has reached $18 million. Karma was founded by Hjalmar Ståhlberg Nordegren, Ludvig Berling, Mattis Larsso...