Foodji closes US $23 million Series A financing round
- Movendo Capital and DLF Venture lead financing round, Triple Point Capital, Kraut Capital and existing investor FoodLabs also invest
- Fresh capital for expansion of the team and technological edge
- Germany's market leader for ultra-fresh, autonomous food and beverage catering quadrupled its sales last year
Munich, Germany, March 07, 2023 - Munich-based food tech company Foodji has closed its Series A funding round of $23 million and aims to further expand its position as the market leader in Germany in ultra-fresh, autonomous food and beverage catering. The fresh capital will go toward strengthening the team as well as expanding Foodji's proprietary technology. Dutch investor Movendo Capital and DLF Venture from Luxembourg joined as new partners. 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 intelligent food vending machines that offer fresh and healthy food at any time and exactly where people spend their daily lives. In the office, on the production floor, at the university, in the hospital, while traveling in a hotel or at the airport.
"Over 90 percent of German companies do not maintain their own canteen. Last year showed that the demand for high-quality and flexible round-the-clock catering - especially in German SMEs - is enormous," explains Felix Munte, co-founder and CEO of Foodji. "With our strong team and our proprietary technology platform, we could quadruple our business results in 2022. With this investment, we have laid the foundation to further expand our position as market leader," adds Daniel von Canal, co-founder and CEO 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 leads to significantly less food waste than the industry average.
"In Germany alone, 1.7 million tons of food waste is generated in out-of-home catering every year. Foodji has managed to reduce food as well as packaging waste to a minimum while offering restaurant-quality food," says Patrick Huber, General Partner at FoodLabs.
"The deep-rooted technical and data-driven approach enables Foodji to digitize their 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 support innovative companies that drive positive change in the food industry."
In the future, Foodji wants to invest further in its own team and, above all, expand its technological lead. In addition, the user experience for the guest is to be made more individual. In addition to further technical development, the company also wants to expand its range of dishes in order to be able to respond to current food trends. The aim is also to make the user experience more individual for the guest. The declared goal is to continue to grow strongly and to become the central catering solution for medium-sized companies.
About Foodji
Foodji, the young food tech market leader from Munich, was founded in 2016 by Felix Munte, Daniel von Canal, Moritz Munte, Dr. Oliver Friedmann and Nicolas Luig. Foodji enables small and medium-sized companies without a canteen to provide their employees with a fresh and healthy food offer. The core of the company is the proprietary technology platform and the smart food vending machine "Foodji", which offers fresh, healthy and high-quality food around the clock. These are characterized by particularly high quality and can be reserved via app as well as purchased via touchscreen without registration. The range of meals is tailored to the wishes of the employees using specially developed artificial intelligence. In addition to a personalized offer, this results in significantly less food waste than is usual in the food industry. Thanks to 24/7 availability, the Foodjis can also be used more flexibly than conventional canteens and can also cater for workers in shifts and at night.
About Movendo Capital
Movendo Capital B.V. is an investment holding company specializing in investments in innovative food and innovative retail. Behind Movendo is a fourth generation entrepreneurial family with a long tradition in retail and food production. Movendo is a long-term investor and active shareholder.
About DLF
Founded in Luxembourg in 2016, DLF Venture is a family-owned, consumer-focused investment company with offices in Brussels and London, investing primarily in Europe and focusing on four key sectors: Food & Beverage, Health & Care, Edtech and Innovative Retail.
About FoodLabs
FoodLabs is a European early stage VC investor and venture studio in the field of FoodTech and sustainability. FoodLabs is based in Berlin and was founded in 2016. Since then, FoodLabs has invested in more than 50 as early stage startups along the entire value chain of the food industry. FoodLabs invests in ambitious founding teams that are making the world's largest industry more efficient and sustainable. The FoodLabs portfolio includes companies such as Infarm, Meatable, Mushlabs, Sanity Group and Formo.
Questions and further press inquiries to:
Alisa Erlenkötter
