Katoo closes a € 3 million round
Among the international investors Flash Venture, Otium Capital and Marcos Alves Cardoso
Katoo, the startup that simplifies and improves the relationship of restaurants with their suppliers, has closed a € 3 million investment round with several international investors, including: Flash Ventures (Rocket Internet pre-seed fund of Delivery Hero and Zalando), Otium Capital and Marcos Alves Cardoso (Co-Founder and CEO of ElTenedor).
One year after its product launch, Katoo has built a network of over 3,000 restaurants and suppliers who place and receive orders through its platform in Spain, Italy and Portugal. With this round, the team wants to consolidate its position in these countries by increasing its customer base and investing in new features of its technology products. Diogo Cunha, Co-Founder of the startup said: "Raising external capital in times like these has been quite challenging. However, investors have realized that more and more restaurants will look for solutions that increase their efficiency and reduce costs. year, we will focus on consolidating our leadership in Spain, Italy and Portugal, as well as continuing to invest in technology to better serve our restaurants and suppliers".
In addition to Madrid and Barcelona, Katoo has offices in Milan and Turin, which allow it to be more present in the area and offer daily support to its customers. According to Edoardo Tarricone , general manager Italy: "The startup immediately gained the trust of Italian customers such as Poke House, Giacomo and Gerla and, despite the period, achieved a volume growth of 230% from the first lockdown to October" The company was founded in July 2019 by Diogo Cunha, Karan Anand and Carlos Esquivel , coming from multinationals such as Boston Consulting Group, Uber and Sgs.
The startup has created a set of analytics tools that many customers are already using to track and reduce costs. According to Karan Anand , Co-Founder, “the purpose of our team has changed. If before we were focused on attracting new users, in this period we want to help our customer base to make the most of the potential of the startup to reduce unnecessary costs. We have customers who have managed to reduce their costs by more than 5%”. In the coming months, the team plans to launch other tools and services to help the restaurant industry as it did during the first emergency period. The first product that the team has developed is in fact a web app to allow suppliers to manage all their orders, keep the catalog updated and promote their products.
EFA News - European Food Agency