Let

Let Inc. operates as a specialized food-tech company, established in August 2018 by the serial entrepreneur Katsuaki Sato. Before founding Let, Sato successfully founded Metaps, an AI-driven platform for app monetization, which he led to a public listing on the Tokyo Stock Exchange. This background in building and scaling digital platforms provided a robust foundation for his current venture, which aims to address inefficiencies in the food supply chain.

The core of Let's business is its mobile marketplace app that facilitates the sale of surplus and imperfect products, known in Japan as "wake-ari" goods. This creates a distinct "1.5th distribution" channel, positioned between the primary market for new products and the secondary market for used items. The platform primarily serves food producers, manufacturers, and retailers who have items that are difficult to sell through conventional channels, such as non-standard produce, items nearing their best-before dates, or overstocked inventory. These sellers are connected with a growing base of over five million consumers who are interested in purchasing quality products at a reduced price, thereby directly tackling the significant issue of food and product waste.

The business model is structured to be highly accessible for vendors, who can download the app and begin selling their products in as little as one minute without incurring initial setup or monthly subscription fees, pointing to a revenue model based on commissions from transactions. Beyond its marketplace, Let Inc. is expanding its mission to create a more sustainable food future by investing in two key areas. The company is involved in the research and development of innovative foods, including alternative proteins, to meet the demands of a changing global environment. Furthermore, Let is actively engaged in the AgriTech sector, collaborating with farmers to run experimental smart farm operations that leverage technology to improve agricultural productivity.

Keywords: food tech, food loss, surplus inventory, marketplace app, Katsuaki Sato, wake-ari, sustainable consumption, direct-to-consumer, e-commerce, AgriTech, smart farming, alternative protein, 1.5th distribution, food waste solution, discount food app, Metaps, Japanese startup, mobile commerce, producer support, circular economy