Misfits raises $85M to send you "ugly" fruits and veggies

Don't judge a pear by its blotches... Sometimes the imperfections are what make things fruitiful. Misfit Market sells "ugly" or somewhat unfortunate-looking (but still perfectly edible) organic produce. Think: weirdly shaped avocados and dented apples that supermarkets won't sell. It just raised $85M to ship its "Always fresh, sometimes normal" fruit to your door. The value prop:

• Cheaper than stores: Misfits' funny-looking goods can be up to 40% cheaper than grocery store prices, since stores can't (or won't) sell them.
• Reduces food waste: According to Misfits, 40% of all produce harvested in the US goes to waste. Misfits and competitors like Imperfect Foods are finding mouths for some of that rejected food.

Expand the niche... Misfits identified a market of people who find value in its mission-driven business model. While many are happy paying for obscene-looking squash to reduce food waste, Misfits wants to expand its biz to a wider audience. To do that, it's increasing its "imperfect" offerings to products like: olive oils with upside-down labels and nut butters with erroneous sell-by dates.