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Join for freePosted: Thu 30th Jan 2025
Deepak Ravindran is the co-founder of Oddbox, the UK's first sustainable fruit and veg box delivery service.
The company has been instrumental in rescuing over 40,000 tonnes of fresh produce that would otherwise go to waste, supporting farmers and promoting sustainability.
In this session from StartUp Show 2025, Deepak talks about his innovative approach to combating environmental challenges and how he's positioned Oddbox as a leading force in the fight against food waste, climbing to revenues of over £32 million.
Inspiration struck during a holiday in Portugal. Deepak and his wife Emily saw delicious but "ugly" produce at street markets that UK supermarkets simply wouldn't sell.
His research revealed that 30% of 40% of food grown for human consumption is wasted at the farm level due to size, shape or surplus.
Deepak's background:
Originally worked in investment banking, but found himself dissatisfied with capitalism.
Identified three passions: Fitness, food and social impact.
Became a personal trainer before starting Oddbox.
Oddbox delivers surplus and "imperfect" produce directly to consumers.
Deepak chose the subscription model because:
fruit and veg are perishable and used frequently, making weekly deliveries logical
it provides consistent revenue and improves customer retention
he took inspiration from existing models like Abel & Cole and Riverford
Deepak left banking without a clear plan, which created a sense of urgency.
His key insight was that desperation forces action and fuels unstoppable commitment to success.
Unlike the "side hustle" approach, he went all in – which meant failure wasn't an option.
His biggest fear was returning to banking – this pushed him to make Oddbox work.
Now serving 50,000 customers weekly across the UK.
Raised £25 million in funding across multiple rounds:
Angel investors and crowdfunding in the early days
Series A and B with institutional investors
Debt financing for further expansion
Funding had a significant impact, allowing Oddbox to:
scale rapidly and invest in infrastructure
introduce technology to improve operations and the customer experience
bring in experienced investors and advisers, to add rigour and structure
Investment changed the business and Deepak's role.
Investors introduced corporate structure and accountability, which led to:
a more disciplined approach to hiring, finance and operations
increased pressure to scale and show a return on investment
Deepak's role evolved:
Initially co-CEO then moved to chief customer officer, focusing on experience and engagement
Later moved to business development
Eventually realised he was no longer the right fit for the next growth phase
Stepped down as an executive but remains a non-executive director
Scaling from 25 to 100 employees felt impersonal – he no longer knew everyone in the company.
Struggled with layoffs and tough scrutiny from investors.
Key insight: Your business is not your identity.
When Oddbox thrived, he felt great.
When it struggled, he took it personally.
Separating personal worth from business performance was crucial.
Resilience strategies:
Staying grounded in the mission (helping farmers and reducing waste).
Prioritising mental and physical health:
Early morning routine (breathwork, mindfulness, stretching, gym).
Finding "me time" for meditation.
Leaning on his support network – family, friends and mentors.
Prioritise time for yourself – either early in the morning or late at night.
Find small windows for self-care, even if it's a lunchtime meditation.
Use investors for their expertise, not just their money.
Be prepared for rigorous questioning and shifting dynamics.
Recognise that taking investment means relinquishing some control.
There is power in taking bold risks and following a purpose-driven path.
Success requires resilience, adaptability and separating your personal identity from the business's performance.
Visit the StartUp UK hub for resources that give you the education and inspiration to get started on your entrepreneurial journey.
