Is it just us, or has this past week been a hot one for international food tech startup funding announcements?
A few days ago, British ‘virtual farmers market’ grocery delivery service Farmdrop raised £10 million ($13.3 million) to expand their territory. And just yesterday French meal replacement company Feed raised €15 million ($17.4 million) to grow their reach into the U.S.
Here are a few more international food tech and innovation startups that have raised some serious funds in the past few days — because the food tech investment bug expands way beyond the U.S.
India: Food delivery service Swiggy adds to sizeable war chest
Earlier today, Indian food delivery service Swiggy announced that it had raised $210 million. The funding round was led by South African media conglomerate Naspers Ltd and Hong Kong-based DST Global, with participation from Meituan Dianping and Coatue Management.
This was a Series G round for Swiggy and their largest capital raise yet. This brings their total investment to $465 million, making them the most-funded food delivery company in the fast-growing Indian market.
Founded in 2014, the Bengaluru-based Swiggy now has 35,000 restaurant partners and 40,000 delivery workers across 15 cities in India. The company will use their new capital to expand into new markets and ramp up their supply network.
Italy: Supermercato24 raises funds for same-day grocery delivery
Italian same-day grocery delivery service Supermercato24 just raised €13 million ($15 million) in Series B funding. The round was led by FII Tech Growth, with participation from current investors 360 Capital Partners and Innogest, and new investor Endeavor Catalyst.
Like Instacart and Amazon Fresh, Supermercato24 offers same-day (or, for an added cost, same-hour) grocery delivery from local supermarkets. The company currently has 15 merchant partners and delivers to more than 23 Italian cities. It plans to use their new funds to expand their marketplace and reach.
Canada: Restaurant POS system TouchBistro closes hefty Series D round
Toronto-based TouchBistro announced today that it raised a C$72 million ($54 million) Series D funding round led by JPMorgan Chase and OMERS Ventures with participation from Relay Ventures, Recruit Holdings, and others. The company makes an iPad-based POS system that can integrate into restaurants to manage payments, menu options, accounting, orders, inventory, and more.
This new fundraise bumps TouchBistro’s value to approximately C$117 million ($88 million). It currently works with over 12,000 restaurants throughout 100 countries.
TouchBistro recently teamed up with Chase to power their WePay payments; the partnership is scheduled to go live this summer. According to TechVibes, the company will use their new capital to grow operations, increase employees, and look into expansion into Europe and South America.
Leave a Reply