Around one third of the food produced each year — 1.3 billion tons of it — is either lost or wasted, according to data from the United Nations’ Food and Agriculture Organization. That’s the equivalent of flushing $1 trillion worth of perfectly edible food down the toilet. Against that sobering backdrop, Karma, a marketplace that’s setting out to reduce food waste, has raised $12 million in a series A round of funding led by Swedish investment firm Kinnevik, with participation from Bessemer Venture Partners, Electrolux, and E.ventures, among others. This takes the company’s total funding since its inception to $18 million.