Choco is a technology platform that aims to improve the global food supply chain to combat the pressing issue of food waste. Choco’s intuitive app serves as a conduit between suppliers, and restaurants, streamlining order management and promoting direct communication. This helps save time, reduces errors, and minimizes associated food waste.
Food waste and loss are among the most pressing yet often underestimated challenges of our time. Shockingly, nearly 40% of the world’s food production goes to waste each year. This wasteful trend permeates the entire food supply chain, depleting valuable resources and accelerating environmental degradation long before food even reaches our tables.
Environmental Impact
The food system, accounting for over 24% of global greenhouse gas emissions (GHG), ranks as the second-largest contributor to GHG emissions, second only to the electricity sector. Remarkably, up to 10% of these emissions are entirely unnecessary and stem from food waste alone. To put this in perspective, the aviation industry is responsible for just 2% of global emissions.
Moreover, the expansion of agricultural land to meet the ever-growing demand for food remains the primary driver of deforestation. This rampant deforestation results in the loss of natural habitats for countless species, contributing to a shocking 68% decline in the global wildlife population since 1972, particularly hitting Latin America, home to the Amazon, with a devastating 94% loss.
Humanitarian and Financial Consequences
Food waste is not just an environmental crisis; it’s a humanitarian and financial one as well. Despite abundant food production, over 10% of the world’s population still grapples with food insecurity. To make matters more complex, our global population continues to rise. By 2050, we will need to provide sustenance for 10 billion people. If we persist with our current practices, both our planet and society will be strained to their breaking points.
Shockingly, more than $1 trillion USD annually is squandered due to food waste and loss, with businesses across the supply chain absorbing the majority of these losses. Restaurants, wholesalers, producers, and farmers bear the brunt of this burden. It is high time we tackle this issue from a business perspective.
The Roots of Food System Inefficiency
There are, of course, valid and complex reasons for this challenging scenario. The root causes of our inefficient food system can be attributed to its fragmented and complex structure, lack of end-to-end accountability, and disconnection between producers and buyers. Limited digitalization further hinders transparency and data-driven decision-making.
The absence of information and commitment leads to overproduction, causing waste and giving buyers the upper hand in setting low prices, undermining producers’ income and investment in modern food production methods. With the impending challenges of feeding a growing population and addressing global warming, a radical change is urgently needed to reduce food loss and waste, closing the food gap.
Choco’s Vision: Bridging the Gap
Choco was born from a desire to tackle the alarming statistics surrounding food waste and its adverse effects on the environment and the economy. By digitalising interactions between food suppliers and buyers, Choco aspires to establish a platform capable of significantly curbing food waste, boosting operational efficiency, and fostering a sustainable food system.
Choco envisions a well-connected and efficient food system where food waste becomes a relic of the past. Their strategy includes equipping every value-adding business in the food supply chain with their technology to enhance efficiency, reduce waste, and cut costs. By leveraging Choco’s technology, businesses can streamline their connections, foster collaborative production planning, and optimize food distribution. Choco’s ultimate aim is to forge a globally integrated digital food ecosystem.
Pioneering a Decade of Change
Choco’s vision for the next decade is dedicated to holistic food journey optimization. This encompasses enabling precise demand forecasting, streamlining order and inventory management, and supporting sustainable growing practices. Together, these initiatives promise a powerful reduction in food waste and a significant boost in profitability. With a presence in six countries, 400 employees, 10,000 suppliers, and 15,000 restaurants using their platform, Choco is already making a substantial impact. The company’s remarkable growth, exemplified by raising 308 million euros in just four years, stands as a testament to the value and potential recognized by stakeholders.
In a world where the future of our planet is at stake, Choco’s data-driven approach offers a glimmer of hope. By improving the way we handle food, Choco is paving the way for a more sustainable and efficient food system, where waste is minimized, and the environment thrives. Choco’s vision extends beyond just the food industry; it aims to contribute significantly to environmental conservation. Named after Colombia’s Chocó district, one of the most biodiverse ecosystems on Earth, Choco embodies the fight to preserve precious habitats like Chocó.
