Farmdrop Announce £3 Million Investment

Farmdrop Announce £3 Million Investment

Changing shopping habits may be a headache for the giant supermarkets, but they may be a boon for food producers. At least they will if Ben Pugh has anything to do with it. The founder of Farmdrop wants to radically simplify the food supply chain, linking farms with local consumers via his online marketplace and providing producers with a much better deal in the process.

It’s ambitious, certainly, but Mr Pugh has secured some powerful backers. Atomico, the venture capital firm led by Niklas Zennström, the Swedish technology entrepreneur famous for building and selling Skype, has just led a £3 million investment into his start-up. The investment round, which also was joined by the founders of Innocent Drinks, will allow Mr Pugh to expand beyond his London heartland to other UK cities next year.

Read the full article on the Times