While the primary goal of most startups is to scale their revenues and eventually turn a profit, there鈥檚 a segment of the startup world that鈥檚 also focused on doing good.
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The fancy name for that category of business operating is “social entrepreneurship.” Historically, socially-conscious companies haven鈥檛 been the most well-funded. But we think that鈥檚 slowly changing. More entrepreneurs鈥攁nd investors鈥攔ecognize that making money and making a positive impact on the world may not be mutually exclusive.
A quick search聽of companies that fall into the social entrepreneurship category turned up that have raised a combined in funding. That鈥檚 a lot of companies and a lot of cash.
First, we鈥檒l highlight some of those startups that have recently raised money. And it being the holiday season, we’ll also take a look at some companies who haven’t raised but are instigating positive social change all the same.
Starting Up For Good
According to , Karma markets itself an app-based marketplace that helps restaurants and grocery stores reduce food waste by selling unsold food at a discount direct to consumers. It鈥檚 raised a total of $16.7 million, most recently bringing in a $12 million聽
鈥淥ne-third of all food produced is wasted,鈥 Karma CEO told TechCrunch reporter in August. With Karma鈥檚 app, restaurants and grocery stores can sell their surplus food while consumers can buy the food at a reduced price, he added.
This company has developed a mobile application that helps provide a meal to someone in need each time a user takes a photo at a partner restaurant. It was founded in 2014 and recently , per its 附近上门 profile.
This five-year-old company aims to 鈥渆nable industry leaders in oil, gas, and mining to predict and prevent environmental, social, and governance risks by turning mobile crowd-sourced data from stakeholders into actionable intelligence,鈥 according to its 附近上门 profile. It raised $1 million earlier this year.
Outside The Startup
There鈥檚 also a number of socially conscious companies that haven鈥檛 necessarily raised money this year or fall out of the traditional bounds of a startup.
This trendy startup when Meghan Markle, the Duchess of Sussex, wore a pair of its ballet flats. It makes high-end 3D printed shoes out of recycled bottles and recently also . Founded in 2015, 搁辞迟丑测鈥檚 raised $7 million in 2017 in led by . According to Anatta, 搁辞迟丑测鈥檚 saw its by 600 percent from year one to year two. Its shoes are sold exclusively online.
This New York company describes itself as an ethical luxury handbag brand that uses 鈥減remium animal-friendly materials鈥 and works closely with artisans to craft its handbags, per its 附近上门 profile. It has not raised venture funding that we know of.
In case we missed any startups in the space, feel free to email me. Doing good is always something we鈥檙e interested in hearing more about, and covering.
iStockPhoto / Grandfailure
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