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Flashfood has raised $12.3 million in a Series A funding round, the food waste reduction app announced on Monday. The round was led by S2G Ventures.
Flashfood, which partners with retailers to offer nearly-expired products at discounted prices, said it plans to use the funding to expand its U.S. presence.
In its funding announcement, Flashfood noted the U.S. retail sector is losing $37 billion annually in value due to food reaching its best-by date before it gets sold.
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