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The Wonki Collective is the first B2B technology to enable food manufacturers to track and sell surplus ingredients easily.
About
The core of our technology is our matchmaking algorithm - think Tinder for surplus ingredients. We apply machine learning to our proprietary database of 8,000 food ingredients to connect food manufacturers with the best potential buyers for each surplus ingredient and thereby ensure that a sale happens. Having worked with 65+ food manufacturers, we know that to maximise our impact, we need to automate the entire transaction process so that a manufacturer can buy or sell through us in just a few clicks. In addition to our matchmaking algorithm, we are thus also building additional tools:
- APIs that use existing ERP data to enable food manufacturers to identify surplus ingredients earlier and better
- Integration with manufacturers’ ESG reporting
- Automated payment solutions, verification of food accreditations and certifications and logistics
Key Benefits
- The seller generates extra revenue and saves waste management costs
- The buyer gets 100% perfect ingredients for cheaper
- They both reduce food waste and improve their carbon footprint
All of this without any need of additional workload - just let us connect to your ERP systems and our technology will take care of the rest.
Applications
Our solution currently works for food manufacturers and wholesalers of any size - from large food corporates to SMEs. Initially, we are targeting ambient food production, preprepared meals and bakery, since US and UK data suggest that these are the food subsectors with large volumes of ambient surplus ingredients plus food manufacturers of the right size.
We are currently operating in the UK - it’s a closed market that we know well and where Dini, one of the co-founders, has an excellent network. There are almost 15,000 target companies, including food manufacturers and ingredient wholesalers and £1.7B surplus ingredients going to waste every year. This makes it the ideal market to test and improve our solution.
Eventually, we will expand to all food ingredients and also geographically into the EU and the US, before going global. Additionally, the solution can be adapted for CPGs and packaging, targeting the same users we are targeting now. Moreover, other industries use the same ERP technologies, so we will eventually look to branch out, starting with cosmetics.