Food-related and delivery tech businesses have been seeing a huge wave of customer demand in the last few weeks as people on lockdown turn to them to buy necessary supplies (see also: the big funding round for meal kit delivery service Gousto announced earlier today). But that rising tide has not lifted all boats. Many restaurants have had to shut down, and those trying to stay open have had to reconsider how they run their businesses (and if it’s even worth the effort at all).
And that’s having a subsequent impact in turn on those who supply restaurants, which are also finding out that they need to reconsider and adapt what they do, too. Today, a Berlin-based startup called Choco, which has built ordering software for restaurants and their suppliers, is announcing $30.2 million in fresh funding led by Coatue Management, with participation also from Bessemer Venture Partners, Atlantic Labs, Target Global and Greyhound. The funding puts Choco’s valuation at just under $250 million, Daniel Khachab, Choco’s CEO and founder, said in an interview.
Read more at TechCrunch.