To develop a more transparent, sustainable food supply chain, OC 100M Series B choo cuts at a cost of 600M valu, – Tech Glass

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To develop a more transparent, sustainable food supply chain, OC 100M Series B choo cuts at a cost of 600M valu, – Tech Glass

The United States estimates that about 40% of the food produced here is wasted. Globally, 6 2.6 trillion are lost annually.

The Berlin-based Choco, which has developed ordering software for restaurants and their suppliers, is working to digitize the food supply chain and has raised 100 100 million in a Series B fund headed by left-wing Lane Capital. Has been announced, so that it can be estimated after the market price. Joining are new Investor Insight Partners and existing Investor Quotient Management and Besmer Venture Partners.

The new era of Square’s .7 $ .. 7 million million dollars has just emerged after one year of the A series, which has been raised in two different periods, in 2019 in .5.5 million. The company was founded in 2018 to raise فن 171.5 million – million 1 million and million 30.2 million in 2020 – valued at 23 230 million.

The company’s core food purchasing technology sets workflow and communications orders for restaurants and suppliers. During the global epidemic, Chachab said the square has become a means for opera operators to go through the procurement process and reduce costs as they adapt to changing market conditions.

With a انڈ 6 trillion market in the food industry, Chaco CEO Daniel Khach told TechCrunch that their goal is to make the food supply chain more transparent and sustainable in order to increase margins in the food service sector and address climate change. Help compete.

The company researched 14 months of food waste and found that it is the center of many other global problems: food waste is the third biggest driver of climate change and is causing deforestation. – As the news from Amazon shows last year. Extinction of animals.

“It makes sense to try and solve it,” he added. “The food system is very fragile, and what was shown in the first and second waves of the epidemic is how delicate and complex it was. Can’t keep

There are some nine parties between the farmer and the last point, Khattab said. No one is connected to the other, which often means that no data cell and data are collected in the series. He added that they need to be linked on a single platform so that decision-making can be made data-driven.

As uncertainty spread in the food industry at the onset of the epidemic, Khachab said Choco could either be reduced or wait in the company or wait. They chose the latter, pumping the team, the regions and the technology. As a result, Choco’s technology is stronger than it was 15 months ago and has become more flexible in complex environments.

Uncle said orders at the platform checkpoint quadrupled last year, and the total trade value increased from 0 230 million annually to 900 900 million annually.

As the company begins to learn how to value the food supply chain, half of the Series B funding will go to technology development. This will also lead to doubling your head count, especially towards engineering. Choco recently hired former Uber and Facebook executive Vikas Gupta as chief technology officer, and Khabb said Gupta’s expertise would help the company “build the best technology team in Europe” and scale faster. Will come on

Chacko already operates in six markets, including the United States, Germany, France, Spain, Austria and Belgium. Khachab expects these markets to expand and step into new markets such as Latin America, the Middle East and Asia.

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