A cutting-edge food waste tech start-up has raised $7.4m to boost its international expansion, in an investment deal advised on by national law firm Shoosmiths.
Winnow, whose intelligent kitchen technology has already been adopted by firms such as Ikea, Sofitel and Compass Group, raised the investment in a round led by Circularity Capital, Mustard Seed and D-Ax.
Shoosmiths corporate partner Steve Barnett, assisted by solicitor Helen Burnell and trainee solicitor Hannah Short, advised Winnow on the investment.
Steve said: "It has been great to see Winnow develop over the past few years into a company which is really making waves in the hospitality industry. Its tech is a perfect harmony of helping businesses to drive up profitability while also addressing increasing environmental concerns around food waste."
Winnow co-founder and CEO Marc Zornes said: "Food waste really is a big issue right now, and the food service sector is really taking our technology to its heart. This new investment round will give us an enormous opportunity to build on our strong market presence and to roll-out internationally."
Shoosmiths LLP is one of the most active UK law firms in the area of advanced manufacturing and high-growth tech companies, acting for founders, investors, funders, and research organisations, who look to the firm for transactional advice, VCT, EIS and SEIS tax advice and IP and commercialisation advice for both early-stage and established companies. Shoosmiths was recently 'Highly Commended' in the EIS Awards 2017 and was a finalist at the Investor Allstar Awards 2016.
Nationally, the corporate team is ranked in first place by deal volume in Experian's 2016 MarketIQ UK & Ireland M&A league tables. The team was recognised for its mergers and acquisitions expertise at the 2015 M&A Awards, winning the Law Firm of the Year category.