Peter Jorgensen is a Partner at Maersk Growth, the VC arm of Maersk Group. His focus is on startups is addressing inefficiencies in existing supply chains, particularly to fight food waste. In this episode, we look at how Maersk is thinking about and investing in a future of food based on data, structure, and transparency. We also dive into the details of their investment thesis, how to best pitch them, and what kind of partnerships they are looking to build!
2:10 What is Maersk Growth? And what is your role in the organization?
The problem is split up into food loss and food waste. Waste is what the consumer throws away. Loss is everything that happens from the farm up to the point of retail. On a global basis, about 75% of total food loss happens at the points before the consumer. 30% of all perishables that go into containers, we transport, so we saw ourselves having a natural knowledge base and role to play in this area.
The food supply system today is inefficient with multiple handovers and limited digitization. The highest value creating happens at the retail end, but the biggest effort goes into the agriculture end.
Average farmer has 40 attempts in his lifetime to make a good harvest.
We made our 1st investment in April 2018 and have pretty much done one investment every month since. 5 out of 13 in to food waste.
Solving for food loss is about data, structure, and transparency. Digitizing the food system is the great enabler.