Greece-based STIQ bags €20M from EIB to expand its AI cloud kitchen platform across Europe

Athens-based STIQ, a company transforming healthy dining in Greece, has raised €20M in funding from the European Investment Bank (EIB).

This investment is structured as venture debt with quasi-equity features. It is part of the EIB’s strategy to promote digital transformation and innovation in Southern and Eastern Europe.

Yiannis Tsakiris, Vice-President of EIB, says, “This investment reflects the EIB’s firm commitment to supporting innovation, digital transformation and entrepreneurship across Europe. STIQ is reshaping the food delivery model through technology, and we are proud to support a Greek company that is building scalable, sustainable solutions with European reach.”

The EIB financing, supported by the programme under the “Future Technologies” window, addresses growth capital gaps for early-stage European tech firms and supports EU objectives in AI, food systems, urban logistics, and regional investment.

InvestEU aims to mobilise over €372B in investment from 2021 to 2027 through a budget guarantee and partnerships with institutions such as the EIB.

Capital utilisation

The Greek foodtech company develops AI-powered cloud kitchen technology. The funds will be used to support STIQ’s research and development, digital tools, and international operations. 

STIQ plans to expand its platform and enter new markets within the European Union.

Konstantinos Davaris, Founder & CEO of STIQ, says, “We are thrilled to welcome the European Investment Bank as a strategic partner in our mission to redefine fast-casual dining. At StiQ, we’re leading a new era of healthy eating by blending cutting-edge technology and AI with culinary excellence.”

“Through our diverse portfolio of brands, including Protein Garden, Dinas, Healthy Concept, and more, we deliver delicious, nutritious, and affordable meals that make healthy dining accessible to everyone. With EIB’s support, we’re ready to scale our vision, fostering a more sustainable, health-conscious future for communities worldwide.”

Transforming healthy dining

Founded in 2022, STIQ operates in the virtual restaurant sector by combining software, logistics, and food production into a single platform. 

Its system supports multiple digital restaurant brands from kitchen hubs, using AI for demand forecasting, menu adjustments, and inventory management. The platform also includes smart routing and grouped deliveries to lower CO2 emissions and reduce delivery time. 

Currently, STIQ runs five kitchen hubs in Athens, serving over 20 brands to a market of 3 million residents. The company employs 200 people and plans to expand to 30 hubs across Europe by 2029, with initiatives focused on food safety, operational performance, waste reduction, and the adoption of electric delivery fleets.

According to a statement from EIB, STIQ has raised over €10M in funding to date and is now entering its European growth phase.

Brief about EIB

The European Investment Bank (EIB), owned by EU Member States, finances projects aligned with EU policy goals across eight core areas, including climate action, digitalisation, security, cohesion, and infrastructure.

In 2024, the EIB Group, including the European Investment Fund, signed nearly €89B in financing for over 900 projects. All supported projects align with the Paris Climate Agreement. Around 60 per cent of the Group’s financing focused on climate and environmental goals. 

The EIB also backed over €100B in energy security investments and mobilised €110B for startups, scale-ups, and European innovators. About half of its EU financing targets cohesion regions with below-average per capita income.