A third of all food produced in the world is wasted, which costs over a $1 trillion a year, and produces more greenhouse gas emissions than every country except the U.S. and China. Plus, food fraud costs the global economy an additional $40 billion a year, and scandals in the industry have increased by two-thirds since 2010.
With a vision to build a more transparent and secure global food system, co-founders Abi Ramanan and Gustav Nipe started ImpactVision in 2015 while attending Singularity University’s GSP program.
Using hyperspectral imaging, a technology developed for use in space, to analyze food and provide actionable insights, food distributors are able to accurately quantify food quality and safety during processing with rapid and noninvasive analytics. Armed with this information, food companies can reduce waste, maximize yield, and deliver consistent, quality products to consumers.
Read this case study to learn how, working with SU, ImpactVision built a minimum viable product, secured its first pilot program with a major U.S. food retailer, started generating income, and began attracting investors.
At Singularity University, we work with startups at the intersection of exponential technologies and global impact. We take a long-term approach to helping them build high-growth, sustainable businesses. SU Ventures provides exclusive bootcamps, sprints, and other programs that promote breakthroughs, accelerate milestones, and help entrepreneurs succeed.
Whether you’re starting an early-stage venture, scaling a startup, or innovating inside a large company with thoughts of a spinoff, see how we can help your idea take flight.
Learn more about the SU programs featured in the case study:
“Thanks to SU’s future forecasting, ImpactVision is on the forefront of making this technology accessible and available to consumers, communities, and corporations. In the near future, we definitely see this technology being in the hands of consumers, like on a smartphone, helping everyone to reduce food waste and bringing us closer to a world of abundance.”— Gustav Nipe, Co-founder of ImpactVision