Start up: Katoo closes a new round of financing of $ 7.2M
The Spanish company develops digital apps for catering
Katoo, a Spanish start-up born two years ago and focused on the creation of apps for restaurants (to optimize reservations, for example) has obtained a new loan for 7.2 million dollars led by the Spanish investor K-Fund, which will bring the company to total funding of $ 10 million. The American funds Expa (the fund of Garret Camp, co-founder of Uber), FJ Labs, Soma Capital and the Portuguese VC Shilling Capital also participated. Current investors GFC and Otium Capital have doubled their bet by rewarding Katoo's vision of “developing software to make the food supply chain efficient, fair and transparent”.
Among those who have placed their trust in the start-up there are not only institutional investors, but also successful entrepreneurs with a lot of experience in FoodTech, such as the co-founder of Glovo Sacha Michaud, Dimitri Farber, co-founder of Tiller recently acquired, and Marcos Alves Cardoso, co-founder of TheFork.
Over the past 9 months, the start-up has seen its number of orders grow eightfold. Their more than 5,000 restaurants and suppliers range from the largest chains like I Love Poke (over 60 outlets in Italy), to famous pizzerias like Cocciuto, and some Michelin-starred restaurants.
Katoo today has an annualized transaction of 220 million dollars thanks to the apps in two countries (Italy and Spain). Part of the funding raised in the latest round will be used to expand the company in Portugal and bring the model to Latin America and other European countries as well.
EFA News - European Food Agency