The funds will be primarily used to advance Food-X Urban Delivery, SPUD’s shared e-commerce grocery delivery platform that allows multiple third-party retailer partners to provide grocery delivery to customers.
The first wave of European food tech companies has mostly focused on building technology and logistics platforms to deliver food to consumers. And while the plethora of new food e-commerce options across the globe has caused investor fatigue and failures, the five leading food delivery companies in Europe are now worth seven times more than their combined investment, an awesome feat, according to Niccolo Manzoni, partner of agrifood tech investment firm Five Seasons Ventures.
The AgriFood News Aggregator features headlines from around the globe collected on AgFunder’s news sharing platform #feediteach week.Have news to share? Post it here and engage, share, and debate with your peers.
The number of high-raising food delivery startups that have shuttered in the last two years suggests that even with millions of potential customers within a few miles, online restaurants are a hard nut to crack.
The high-cost of customer acquisition and a recent uptick in losses for the five-year-old food tech company could make the decision to list look precarious and spell bad news for competitors also considering listing.
The highs and lows of the food e-commerce space continued this week with Territory raising $6.7m in Series A funding in the same week that Maple closed and sold some of its assets to the UK's Deliveroo.
AgShift, an ag data startup helping farms automate their compliance reporting, also closed a pre-seed round. Online office catering service Platterz and pivoted Indian agri-marketing platform Ninjacart also raised funding.
LoveTheWild, the Boulder-based frozen seafood brand that only sources farmed fish, has closed an undisclosed Series A round of funding with Leonardo DiCaprio and seafood-focused venture capital fund Aqua-Spark.