Choco, a food tech start-up aiming to revolutionize the restaurant industry and eliminate food waste, has just secured €25 million in new funding from high-profile investors. The latest round of investment was led by internal investors who reinvested in Choco, a testament to the company's success, its potential for continued growth and its $1.2 billion valuation.
Choco's mission to digitize the food system and eliminate food waste has fueled the company's rapid growth since its inception in 2018. The company's automation software brings transparency and efficiency to the food ecosystem, resulting in increased satisfaction of customers, increase margins and, above all, reduce food waste. Choco software is used by restaurant operators, wholesalers and distributors in Europe and the United States.
As a major contributor to climate change, food waste is a key issue that Choco intends to address by promoting digitization and efficiency in the food system.
“We are very excited about this new funding, which will allow us to accelerate our product development and further expand our digital offering,” said Daniel Khachab, CEO of Choco. “This latest investment is a testament to the hard work and dedication of our team and the progress we have made in transforming the restaurant industry. We look forward to continuing our mission to promote sustainability in the food system and eliminate food waste.”
Choco is active in US and European markets including Germany, UK, France, Spain, Austria and Belgium.