Forager, a company that connects local farmers with grocers to bring consumers locally-sourced food, has raised $4 million in funding in a round led by Duncan Saville of ICM Limited and Coastal Enterprises. The funding will be used to further develop sales channels, as well as build out key product features and upgrades that address both grocer and farmer needs.
“I invested in Forager for two reasons, first this is a $40 billion fast growing market that is largely analogue and in desperate need for technology so it can scale and be data driven,” said Saville, founder and chairman of the ICM Group, in a statement. “Second, the majority of people I know are interested in buying more sustainably sourced products, especially at the local level. This is an important market trend that cannot be ignored and is critical to the future health of our planet.”
Recently, Forager partnered with Massachusetts based Roche Bros. Supermarkets, Inc. and Bashas’ Family of Stores across Arizona. The company now operates in over 12 states with more than 40 grocers and institutions, and 500 local suppliers. Forager has seen four-fold growth since 2018, with nearly 200,000 local products sourced through its platform to date.
“In all my years as a serial tech entrepreneur, I have never seen a market sector with so much passion and commitment as local food among consumers and especially Gen Z. Without technology the industry cannot scale and expand, end of story. Forager offers a vital solution to building a scalable, local food supply chain that can deliver the freshest quality items to consumers,” said David Douglas Stone, founder and executive chairman of Forager, in a statement.
Related: Bashas', Forager Partner on Local Sourcing; Forager, Roche Bros. Team Up to Procure Local Food.