Karma Pitch Deck: 18-Slide Breakdown

Karma’s pitch deck is a textbook example of how to present a marketplace business with strong early momentum. By focusing on the massive scale of food waste—estimated as a €700Bn market—and showcasing a 20% month-over-month growth rate, the founders establish immediate urgency. The deck excels at social proof, listing a 'who's who' of Nordic tech investors including founders from Klarna, Spotify, and Avito. While several slides contain redacted 'secrets' regarding their specific business model evolution and ambassador program mechanics, the visible data points—such as 100,000+ registered user…

Key takeaways

• The deck opens with a 'Summary (if you are in a hurry)' slide that covers the what, who, why, how, and when of the business in one view (Slide 2).
• Karma defines its value through a specific metric: saving food for €12/kg compared to a market waste value of €0.6/kg (Slide 2).
• Market sizing is broken down by country, estimating a €338.7Bn Karma-Value in the US market alone (Slide 4).
• Traction is presented through four distinct lenses: signed customers (300+), saved meals (45,000+), registered users (100,000+), and cohort retention (Slide 7).
• The startup leverages massive corporate partnerships, including ICA (1,300+ stores) and Martin & Servera (33,000+ restaurants), to demonstrate scalability (Slide 8).
• The founding team highlights deep technical and entrepreneurial roots, including 23+ years of programming for the CTO and a previous exit for the COO (Slide 9).
• The 'Our Backers' slide features high-profile individuals from Spotify, Klarna, and Avito, providing significant institutional credibility (Slide 11).
• The business model relies on a 5% seller transaction fee based on an average transaction of 6.7€ (Slide 14).

Frequently asked questions

What is Karma's core business model?

Karma operates a digital marketplace where restaurants, bakeries, and grocery stores sell surplus food to consumers at a discount (typically 50% or more). According to Slide 14, the company charges a 5% seller transaction fee. The average transaction value is stated as 6.7€, though further details on the 'split revenue model' mentioned on Slide 13 are redacted.

How fast was Karma growing at the time of this deck?

The company reported significant momentum on Slide 7, noting they were signing 20-25 new customers per week and growing their user base by 600-800 new registered users per day. Overall, the summary slide (Slide 2) claims a month-over-month growth rate of +20% since their launch in November 2016.

Who are the key investors mentioned in the deck?

Karma boasts an impressive list of angel investors and backers on Slide 11. Notable names include Niklas Adalberth (Klarna founder), Sophia Bendz (Spotify CMO), Filip Engelbert and Jonas Nordlander (Avito founders), and the Norrsken Foundation. This high level of social proof is a central pillar of their fundraising strategy.

What is the 'Ambassador Program' mentioned in the slides?

Slide 16 introduces the Ambassador Program as a way to use crowdsourcing to scale. It was launched on February 16th in response to users sending requests to bring Karma to their favorite restaurants. While the specific mechanics are redacted, it is positioned as a viral growth lever to acquire new restaurant partners.

What are the primary value propositions for the food sellers?

According to Slide 6, Karma offers three main benefits to 'customers' (the sellers): increased visibility (valuing each follower at 0.3€ in marketing value), increased revenue from surplus food that would otherwise be wasted, and the acquisition of new customers who discover the store through the app.

Karma pitch deck: the facts

Company

Karma

Slides

18

Sector

Food & Beverage

Karma pitch deck PDF

The full Karma deck is embedded on this page and can be read slide by slide in the browser — no download or account required. Each slide is covered in the breakdown above.

What the Karma (Karmalicious AB) pitch deck was used for

This is Karma’s **seed round pitch deck** (labelled “Karma Seed Pitch Deck”) used by Karmalicious AB to raise a €3.2M seed round in 2017, led by venture firm e.ventures. Karma is a Stockholm-based food-waste app that lets consumers buy surplus food from restaurants, cafés, hotels and grocery stores at a discount, reducing food waste while generating extra revenue for partners. The deck presents traction and major Nordic partnership logos (e.g., major hotel and café chains) to support a plan for rapid European expansion and international rollouts. It predates the company’s 2018 $12M Series A, so all fundraising claims in the deck refer specifically to the 2017 seed round.

Business model: Food-waste marketplace app connecting restaurants, cafés, grocery stores and other food providers with consumers to sell surplus food at a discount, thereby reducing food waste.

Round

Seed round.

Year

2017.

Raised

€3.2M seed round.

Lead investor

e.ventures.

Investors

e.ventures (lead), eEquity, Earlier local investors including Norrsken Foundation and angel investors had invested in prior rounds; some were likely

Founders

Elsa Bernadotte, Hjalmar Ståhlberg Nordegren, Ludvig Berling, Mattis Larsson

Headquarters

Stockholm, Sweden.

Industry

Food & Beverage; Food-waste management / sustainability; Mobile marketplace platform.

Total funding: Approximately $18–20M total funding by around 2018–2025, including a $12M Series A and prior seed/early rounds totaling about $3–4M.

Use of funds as presented: Expansion of Karma’s food‑waste app across Europe and internationally, scaling partnerships with restaurants, cafés, hotels, grocery stores and other food providers to reduce food waste while growing the marketplace.

What happened after the Karma (Karmalicious AB) deck

Using this seed pitch deck, Karma (Karmalicious AB) raised a €3.2M seed round in 2017 led by e.ventures, which fueled expansion of its food‑waste marketplace app connecting restaurants and consumers for discounted surplus food. Subsequent international expansion and impact led to a $12M Series A in 2018 led by Kinnevik with other major investors, bringing total funding to roughly $18–20M in the fo

• Raised a **€3.2M seed round in 2017** with **e.ventures** as lead investor, using this pitch deck.
• Expanded its food‑waste app across Sweden and into international markets following seed funding, leveraging large partne
• Raised a **$12M Series A in 2018** led by **Kinnevik**, with participation from **Bessemer Venture Partners, Electrolux
• Subsequent sources report total funding in the roughly **$18–20M** range in later years, reflecting continued capital ra

What the Karma (Karmalicious AB) deck got right

• Demonstrated fundraising effectiveness. The deck is explicitly tied to a successful **€3.2M seed round in 2017** led by e.ventures, demonstrating that its narrative and metrics were effective in securing institutional capital.
• Strong articulation of marketplace value for both sides. Karma presents **clear two‑sided value propositions**: for partners (increased visibility, incremental revenue from surplus food, new customers) and for users (high‑quality food at 50%+ discount, ease of use, environmental impact), making the business model easy to understand.
• Compelling partnership traction and rollout potential. The deck prominently features **major Nordic partners**—hotel chains, café brands, a large food‑service distributor, and property owners—with pilots and planned rollouts across 1,300+ stores, providing strong social proof and a credible path to rapid scale.
• Quantified growth combined with international expansion story. Rapid **20% month‑over‑month growth** and a clear international expansion plan are highlighted, giving investors a concrete picture of traction and future scale potential beyond Sweden.
• Mission‑driven story tightly linked to virality and growth. Karma leverages its environmental mission (“Save the environment”) and positions the app as shareable and viral, including mention of an Ambassador program, aligning impact with growth in a way that appeals to both mission‑driven and commercial investors.
• Emphasis on strong user engagement and retention signals. User experience is framed as “ease of use & gamification” with “best in class retention” and being the “most loved and used app when compared to others,” signaling strong engagement and retention, which are key value drivers for consumer marketplace investors.

What could have been stronger

• Limited quantified financial metrics beyond growth rate. The deck highlights a 20% month‑over‑month growth rate and large rollout numbers but (based on the OCR excerpts and public commentary) provides limited hard financial metrics such as revenue levels, unit economics or contribution margins per order, which could make it harder for investors to assess sustainability of the growth.
• Comparative claims without clear benchmarking detail. While the OCR shows strong claims like “Best in class retention” and “most loved and used app when compared to others,” the deck (as reflected in public descriptions) does not clearly reference independent benchmarks or data sources supporting these comparative statements, which may raise diligence questions about methodology.
• Partnership scale vs. depth not fully clarified. The deck presents multiple major partners and large rollout numbers (e.g., 1,300+ stores) but provides little visibility, in the publicly visible copy, into contract structure, exclusivity, or depth of integration (e.g., number of active locations vs. signed framework agreements), potentially obscuring how much of the partnership pipeline is already monetized.
• Go‑to‑market economics not deeply elaborated. The customer and user value proposition slide strongly emphasizes environmental benefits and virality (e.g., Ambassador program) but appears to devote less space to detailed go‑to‑market mechanics and acquisition cost assumptions, which may leave investors with unanswered questions on acquisition efficiency and channel strategy.
• Limited explicit competitive landscape analysis. Karma’s mission-driven positioning around food waste and environmental impact is clear, but the deck (as seen via public excerpts) does not appear to present a structured competitive landscape analysis contrasting Karma with other food-waste or discount apps, which could limit investors’ ability to gauge differentiation from peers.

How an investor would read this deck

What draws attention

• Verify the **€3.2M seed round in 2017 led by e.ventures** and reconcile it with reported funding totals and later rounds.
• Examine the **20% month‑over‑month growth** claim alongside detailed user, order and revenue metrics to confirm quality of traction.
• Analyze Karma’s **take‑rate and unit economics** (commission per transaction, margins after discounts, cohort behavior) to assess scalability and profitability.
• Review the structure and real activation levels of major **Nordic partnerships** (hotel chains, café chains, malls, food‑service distributors) to understand contracted vs. live locations.
• Evaluate the **international expansion plan** presented in the deck relative to later execution, especially logistics of entering new markets and regulatory considerations.

Risks that stand out

• Reliance on partners’ consistent listing of surplus food and potential churn if restaurants or grocers change their waste-management practices or adopt competing solutions.
• Operational complexity and costs associated with rapid international expansion into multiple markets following the seed round, which could strain resources and execution.
• Competitive risk from other food-waste apps or discount marketplaces offering similar surplus-food deals, potentially eroding Karma’s differentiation if network effects are not strong enough.
• Regulatory and reputational risks related to food safety, labeling, and consumer protection when reselling surplus food at scale across different jurisdictions.
• Mission‑driven positioning may constrain pricing or monetization levers if stakeholders expect strong environmental impact with limited commercial trade‑offs.

Questions this deck invites

• What are Karma’s detailed **unit economics per order**, including average order value, discount level, commission, and fulfillment costs, and how have these trended since the seed round?
• How many of the partners listed in the deck (e.g., large hotel and café chains, food‑service distributors, mall owners) had fully rolled out Karma across their networks at the time of the seed raise, and under what contractual terms (exclus
• How does Karma’s **retention and engagement** compare to other food‑waste or discount apps based on independent metrics, and what data supports the “best in class retention” claim in the deck?
• What specific **market entry playbooks** did Karma develop for new countries after the seed round, and how did actual international expansion performance compare with the plan outlined in this deck?
• How sensitive is Karma’s business model to macro factors (e.g., food price inflation, changes in waste regulation, restaurant economics), and how was this risk addressed in the seed‑stage strategy?

What founders can take from the Karma (Karmalicious AB) deck

• Clearly labeling the deck as the one used to raise a specific round (here, the €3.2M seed led by e.ventures in 2017) provides valuable transparency and context for readers and investors.
• Highlighting **large, recognizable partner logos** (major hotel chains, café brands, malls, food‑service distributors) can strongly reinforce traction and scalability when those partners represent extensive physical networks.
• Combining **customer value propositions** (increased visibility, incremental revenue, new customers) with **user value propositions** (great food for less, ease of use, environmental impact) on a single slide helps articulate a two‑sided marketplace’s benefits to both sides.
• Quantifying marketing value (e.g., “every follower equals 0.3€ in marketing value every day you sell through Karma”) is an effective way to translate engagement into economic terms, though it benefits from clear methodology.
• Positioning environmental impact (“Save the environment”) as both a core mission and a driver of virality (shareable app, Ambassador program) shows how impact narratives can reinforce growth loops in consumer apps.
• Showing both historical growth metrics (e.g., 20% month‑over‑month growth) and a concrete path to international expansion helps investors connect early traction to a scalable, cross‑border opportunity.

Karma (Karmalicious AB) pitch deck: common questions

What does Karma, the company in this seed pitch deck, actually do?

Karma is a Stockholm-based startup (Karmalicious AB) that operates a food-waste marketplace app, enabling restaurants, cafés, grocery stores and other food providers to sell their surplus food to consumers at a discount, thereby reducing food waste and generating additional revenue.

Which funding round was this Karma pitch deck used for, and how much was raised?

According to the Slideshare description, this deck is explicitly the pitch deck Karma used to raise its **€3.2M seed round in 2017**, with **e.ventures** as the lead investor.

How does Karma’s food-waste app work in practice?

Karma’s app lets partner restaurants, cafés, hotels and grocery stores list surplus food near closing time; nearby users are notified and can purchase the food at around 50% or more discount, with Karma taking a transaction fee and the partner generating incremental revenue while avoiding food waste.

What kind of traction and partnerships does the Karma seed deck highlight?

In this period Karma had notable Nordic partners including large hotel groups, café chains and a food-service distributor, with pilots and rollouts across hundreds to over 1,300+ stores, as highlighted in the deck’s partner slide. These partnerships are framed as validation of the model and a scalable rollout channel.

What happened after this seed round—did Karma raise more funding later?

After the 2017 seed round shown in this deck, Karma raised a **$12M Series A in 2018** led by **Kinnevik**, with participation from **Bessemer Venture Partners, Electrolux and e.ventures**, bringing total funding to about **$18M** at that time; later sources put total funding at roughly **$20.2M**.

Sources

Funding and outcome facts on this page were researched on 2026-08-22 from the pages below.

• Karma Seed Pitch Deck | PDF
• Karma Seed Pitch Deck
• Karma raises more money, expands its food app internationally.
• FOOD WASTE STARTUP GETS FUNDING - Supermarket News
• Karma raises $12M to let restaurants and grocery stores offer unsold...
• Karma
• Karma, the food waste app from Sweden, raises SEK 7M in external funding.
• Karma Raises $12 Million for App which Combats Food Waste

Karma pitch deck slides

What each slide of the Karma pitch deck says

Slide 1

((elgpple Too much food is being wasted. We can stop it. Confidential Donatshere (6 KQAFMQA

Slide 2

Su mmary (if you are in a hurry) A digital platform where restaurants, bakeries and grocery stores sell their surplus food to consumers. Wh at? Karma handles the transaction and the food is picked up at the location as take away. Four founders with different university degrees, prior startups & exits, team is a total of 15 people. Wh 0? Backed by Norrsken Foundation (Niklas Adalberth) the Avito Founders, Sophia Bendz, Magnus Bergman, Mattias Miksche, Lars Lindgren, Daniel Laurén and more. Food waste is a huge problem, 1/3 of all food produced is wasted. Why? This is a €700Bn market and that’s when the waste is worth €0.6/kg. In Karma we save food for €12/kg. Karma has best in class retentio…

Slide 3

produced is pr wasted i Te Karma focuses on minimising waste in ; 7 = [} - A the consumption space with restaurants, | | Sd Ty Y bakeries and grocery stores as primary targets. Ty CE ~ dB In this space, millions of tonnes of food worth billions bd * 4 / p So _—— of dollars are wasted every year. - St a 4 A Let's dive deeper... .

Slide 4

Addressable surplus No. addressable | Karma- No. addressable food in metric tonnes | restaurants + | Value | Startingeity ogo, aneg, Population (+ population) (country) (restaurants + grocery stores) grocery stores | (€12/kg) grocery stores Sweden JR2sk 29k + 4k ezzen | Stockholm 1 goi 0.9K 2,6M Germany ie 75k + 35k €40,2Bn Berlin 20k + 7% 80,6M UK a 100k + 15k €30,88n concen 10k + 9k 64M 1,9M Paris France SA 144k + 23k €21,3Bn ni 17k +2 66M us cis) 270k +4tks | €ssgren New York 10k + 3k 320M

Slide 6

©0 O Customer value propositions Increased visibility Every follower equals 0.3€ in marketing value every day you sell through Karma. Increased revenue Sell surplus food as high-quality take away and get new revenue. New customers Attract new customers that can discover your store and your food. V= User value propositions Great food for less Karma offers high quality restaurant food with a 50% discount or more! Ease of use & gamification Best in class retention plus most loved and used app when compared to others. Save the environment Saving the world makes this a shareable viral app that allows for an Ambassador program (please see slide 14!).

Slide 8

Partner since Feb 2017. Pilot during March 2017 selling surplus food from 3 stores to determine rollout in over 1,300+ stores. Scandic Partner since Mar 2017. Starting to roll out their hotel restaurants during April 2017. martin& servera Partner since Nov 2016, helping with rollout with their 33,000+ restaurants as we help them be more environmentally aligned. NORDIC CHOICE HOTELS 2] ] Partner since Mar 2017. Starting to roll out their hotel restaurants during April 2017. WAYNE'S COFFEE' Partner since Nov 2016, enrolling all their cafes to be more environmentally aligned. E AMF Fastigheter Partner since Nov 2016, helping with rollout in their malls as we help them becoming more environment…

Slide text above is read directly from the Karma deck PDF embedded on this page.

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