September 13 (SeeNews) - Bulgarian startup FoodObox said on Tuesday it raised 310,000 euro ($315,423) in three funding rounds led by local venture capital fund Innovation Capital.
The company will use the fresh funds to expand its operations in Bulgaria, FoodObox told SeeNews in an e-mailed statement. The startup will invest in technology improvement, marketing and staff expansion.
In the funding rounds, Innovation Capital invested 150,000 euro in FoodObox. The remaining sum of 160,000 euro was provided by nine angel investors.
FoodObox operates a smartphone application, which allows bakeries, pastry shops, restaurants and supermarkets to offer products nearing expiry with a discount of at least 40%. The application has attracted about 380 businesses in Bulgaria and over 30,000 users.
($ = 0.8647 euro)