Foodji Series A round of financing $23 million

Foodji Series A round of financing $23 million
Foodji Series A round of financing $23 million

The food tech company Foodji from Munich has closed its Series A financing round of 23 million US dollars and wants to further expand its position as the market leader in Germany in the field of ultra-fresh, autonomous catering with food and beverages. The fresh capital will flow into strengthening the team and expanding Foodji’s proprietary technology.

The Dutch investor Movendo Capital and DLF Venture from Luxembourg joined as new partners. The American investor Triple Point Capital and Kraut Capital from Germany also participated in the financing round, as did existing investor FoodLabs from Berlin.

Foodji operates smart food vending machines that offer fresh and healthy food anytime and anywhere people go about their daily lives. In the office, in production, at the university, in the hospital, when traveling in a hotel or at the airport.

“More than 90 percent of German companies do not have their own canteen. The last year has shown that the need for high-quality and flexible round-the-clock supply is enormous, especially in German medium-sized companies,” explains Felix Munte, co-founder and managing director of Foodji. “With our strong team and our specially developed technology platform, we were able to quadruple our business result in 2022. With this investment, we have laid the foundation for further expanding our position as market leader,” adds Daniel von Canal, co-founder and managing director of Foodji.

The technology platform plays a central role in this. This already enables Foodji to use intelligent algorithms to forecast individual demand at the respective locations and to automate the entire supply chain as far as possible. This results in significantly less food waste than the industry average.

“In Germany alone, 1.7 million tons of food waste are generated in out-of-home catering every year. Foodji has managed to reduce food and packaging waste to a minimum while offering restaurant-quality food.” says Patrick Huber, General Partner at FoodLabs.

“Foodji’s deep-rooted technical and data-driven approach enables it to digitize its entire value chain and implement such a complex business model,” explains Clément Helinckx, Principal at DLF Venture, his decision to join Foodji. Alexander Scharzenberger, Investment Director at Movendo Capital adds: “Movendo Capital and DLF Venture are proud to have co-led this funding round, reaffirming our commitment to supporting innovative companies that drive positive change in the food industry.”

In the future, Foodji would like to continue investing in its own team and, above all, expand its technological lead. In addition, the user experience should be designed more individually for the guest. In addition to further technical development, the aim is also to expand the range of dishes in order to be able to react to current food trends. The user experience for the guest should also be designed more individually. The declared goal is to continue to grow strongly and to become the central catering solution for medium-sized companies

Images copyright Foodji

Source Kafka Communication

The article is in German

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