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Crowfunding: Feat Food raises 152,000 euros

Part of a € 1.8 million round

Feat Food, the startup that created the algorithm cook, has successfully concluded an equity crowdfunding campaign on CrowdFundMe with a collection of almost 152,000 euros, compared to a minimum target of 100,000 euros, based on a pre-money evaluation of 5.5 million. The startup, founded in Lecce by Andrea Lippolis in 2015 and structured in Milan starting the following year, has developed an artificial intelligence system capable of preparing balanced and personalized meals based on the physical characteristics and fitness goals of the consumer, which are delivered to your home throughout Italy. 

The equity crowfunding campaign was part of an overall round of 1.8 million euros, which has among its main objectives, in addition to marketing and communication activities, new hires and investments in production machinery to be also allocated to new laboratory currently under construction on the outskirts of Milan, thanks to which the capacity will increase from 500-600 to 3,000 meals per day. Feat Food from 2015 to date has raised 2 million euros in investments and financing and already has investors such as the food groups Riso Gallo and Amadori, which are also commercial partners, Graphicscalve, the venture incubators Digital Magics, Impact Hub and Moffu Labs, and entrepreneur Enrico Pandian, founder of Supermercato24, PrezzoPazzi, Checkout Technologies (Exit) and FrescoFrigo. 

The main distribution channel is e-commerce, which is flanked by a direct sales point in Milan and smart refrigerators (the result of a partnership with Fresco Frigo) located in fitness centers and companies.

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EFA News - European Food Agency