Apeel and its edible coatings for shelf-life extension of fresh produce have garnered much interest, raising $280 million in 2020 alone (bringing its total funding to $390 million). More recently, in May 2021, Apeel acquired ImpactVision, which developed a technology to precisely analyze food quality parameters via hyperspectral images – whereas, traditionally speaking, judging the quality of fresh produce can be cumbersome and subjective. Moreover, through the use of ImpactVision's technology, there can be an added benefit of food waste reduction (Apeel's overall aim). For example, in the case of avocado, one of Apeel's core focus areas, up to 30% of avocado is wasted due to damage caused by testing during grading.
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