From fintech to legaltech to food tech, the innovation flows freely in every industry, thanks to technology. The food industry is one of the untapped markets and is now ripe for disruption. Having said that, one has to keep up with the latest trend and disrupting technology.
According to the report from Dealroom.co, European food tech startups are on course and have produced nine unicorns in Food Tech and Food Delivery segment in the past five years. Moreover, VC’s invested €6.5 billion in food tech in Europe since 2013.
The report also states the ‘next generation’ of food tech entrepreneurs are focusing on the 99%, reinventing agriculture, food production and consumption. It’s worth mentioning, food tech has created 35 unicorns globally, with a combined value of €169B, of which €30B from Europe.
In this article, we have listed five global food tech leaders emerged from Europe, worth a combined €21B.
Delivery Hero
Based in Berlin, Delivery Hero is the global online food ordering and delivery marketplace. The company employs around 7,000+ staff plus thousands of employed riders across 40+ countries.
Notably, back in May 2017, Delivery Hero processed more than 1M orders in a single day for the first time. A considerable number of popular brands around the world belong to Delivery Hero, amongst others Yemeksepeti, e-Food, Talabat, Pedidosya, Yogiyo, foodora, foodpanda and Lieferheld.
Delivery Hero has raised a total of €1.6B in funding over 15 rounds. Their latest funding was raised on Sep 28, 2017, from a Secondary Market round. The company as of today is valued around €8B. In May 2011 Niklas Ostberg founded Delivery Hero and began his journey of building a leading global business in online food ordering.
A few weeks back, Takeaway.com, the Dutch online food delivery marketplace has recently announced it has acquired Delivery Hero’s Germany businesses in return for €930 million cash and an equity stake in the company. As per the agreement, Delivery Hero will be retaining an 18% stake in Takeaway.com.
Just Eat
Based out of London, Just Eat provides convenient and easy access to a huge variety of delivery restaurants and order food online. For the starters, the roots of Just-Eat originated in Denmark where the company launched in 2001 by Jesper Buch.
Moreover, Just-Eat operates with significant local teams in all their market countries and consider the energy and quality of Just-Eat’s local activities critical to success. Just Eat has raised a total of €66M in funding over 4 rounds. Their latest funding was raised on Jun 28, 2013, from a Series D round.
In another news, the company has acquired Flyt recently, a restaurant software platform for €25 million. Just Eat was one of the investors of Flyt with 8% stake but the acquisition makes it the sole owner of the startup.
HelloFresh
Based out of Berlin, HelloFresh is on a mission to transform the way people eat, forever. This is a food subscription company that sends pre-portioned ingredients to users’ doorstep each week. Founded by Dominik Richter and Thomas Griesel, the company has offices in New York City, Sydney, Toronto, London, Amsterdam and Zurich.
Notably, HelloFresh served more than 48 million meals to over 1.8 million customers only in Q2 2018, in 11 countries across three continents. The company has raised a total of €357M so far.
Takeaway.com
Takeaway.com is a Dutch online food delivery marketplace in Continental Europe and Vietnam. The company offers consumers a wide variety of food choice. The group mainly collaborates with delivery restaurants. In addition, Takeaway.com additionally provides restaurant delivery services in 23 European cities in five countries for restaurants that do not deliver themselves.
Founded in 2000 by Jitse Groen, Takeaway.com is now functional in Netherlands, Belgium, Germany, Austria, Poland, Switzerland, France, Luxembourg and Portugal. Takeaway.com has raised a total of €86M in funding over 3 rounds. Their latest funding was raised on Jan 18, 2019, from a Post-IPO Equity round.
Deliveroo
Founded by Greg Orlowski and William Shu, Deliveroo is on a mission to transform the way the world thinks about food delivery. Deliveroo’s technology platform optimizes food ordering and delivery by integrating web and mobile consumers with restaurant tablet-based point-of-sale order management terminals, and their logistics optimization algorithm.
Up till now, the company has raised a total of €781M in funding over 6 rounds. Their latest funding was raised on Sep 24, 2017, from a Series F round.
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