Foodforecast is a food tech startup based in Cologne, Germany, that uses artificial intelligence (AI) to reduce food waste. Foodforecast has developed an AI that combines historical sales data of bakeries with important external factors like holidays and weather data. The AI determines exact sales forecasts and creates an automated order suggestion for the next day. In this way, foodforecast helps companies in the food sector to ensure that less food ends up in the garbage can.
It is important to me to make a difference and take matters into my own hands. This is often difficult and time-consuming in existing companies, especially in larger corporations. Since sustainability plays a very important role for me, I looked for problems where I could use my skills in data science and software development. Two bakeries independently approached me with the same challenge: high levels of baked goods waste due to fluctuations in sales forecasts.
Justus Lauten - FOUNDER
“We are on a mission to save €10 billion worth of food waste within the next 10 years,”
“In 2023, we not only saved 4,000 tons of food waste but also avoided the annual CO2 equivalent of over 1,000 cars and conserved more than 2,500 Olympic swimming pools’ worth of fresh water. The backing from our investors is a powerful endorsement of our vision and the enormous market potential we are tapping into. This infusion of capital will enable us to expand our team and continue delivering unparalleled predictive capabilities and service quality to our clients in the gastronomy, bakery, and retail sectors.”
Food waste is not only an economic issue but also significantly contributes to the degradation of planetary health. The unnecessary loss of food takes its toll on valuable resources such as water, energy and land, and it is a major driver of greenhouse gas emissions that fuel climate change.
Given these urgent concerns, finding innovative solutions to combat food waste is imperative. By deploying their AI-driven solutions, Foodforecast helps their customers optimize their resource usage while making a critical contribution to protecting our planet and ensuring a sustainable future.
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