Funding

[Funding alert] Milan-based Foodtech Startup Soplaya Raises €12.5 Million in Funding

Nov 28, 2023 | By Startup Rise EU

Milan-based foodtech startup Soplaya raises €12.5 million in funding, which includes €1.1 million in debt financing from Intesa San Paolo and €11.5 million in equity from lead investor Sinergia Venture Fund (Alkemia Capital) and investors from the previous round (P101, Azimut, and CDP Venture Capital through the Italia Venture I fund).

Milan-based foodtech startup Soplaya raises €12.5 million in funding, which includes €1.1 million in debt financing from Intesa San Paolo and €11.5 million in equity from lead investor Sinergia Venture Fund (Alkemia Capital) and investors from the previous round (P101, Azimut, and CDP Venture Capital through the Italia Venture I fund).

The foodtech business received a total of €16 million in investment, including the €3.5 million raised in July 2020. In the future, independent eateries and small-to-medium-sized chains alike will have equal access to promptly delivered and high-quality ingredients at open and affordable prices, according to Soplaya CEO Mauro Germani, regardless of their scale or ability to bargain.

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Mauro Germani, CEO of Soplaya said, “Technology and automation, applied to every step of the restaurant supply chain, will radically improve transparency, efficiency and sustainability, and ultimately bring time and cost savings that were previously only available to huge hospitality players After our first round in 2020, we set up 3 lean and modular hubs and we are now able to launch them just 45 days, and grow three times faster with each launch. Also thanks to the resources raised through this round, we now aim to consolidate our presence in the Italian market, while preparing to expand in new geographies. Applying AI to operations and demand prediction will be the next big thing in the coming years for Soplaya and our community of restaurants and suppliers.”

Soplaya's technology and network of logistical centres allow it to provide thousands of products from over 300 suppliers to hundreds of clients daily, all without charging for delivery, all within 24 hours.

Giacomo Picchetto, Partner at Alkemia Capital, added: “We are honoured to be the lead investor in this round of Soplaya. Our fund invests in innovative B2B technology scale-ups with high growth potential in Italy and abroad, cutting-edge technology and a complete and excellent team: Soplaya presents all these characteristics, which position it in the European scenario as a potential leader in “disrupting” a high-growth, anti-cyclical but still traditional sector such as the supply of ingredients and products to the HoReCa industry.”

In order to create a better, fairer, and more sustainable digital end-to-end supply chain, Soplaya is automating all processes and moving them online in the B2B food supply chain. This programme seeks to minimise food waste to just 1%, cut carbon emissions by 50%, and increase revenue for chefs and suppliers by up to 10%.

Read also - Madrid-based Cüimo Secures €900k in Funding

About Soplaya

Since its 2018 launch, Soplaya has served as a digital wholesaler for restaurants, aggregating delivery orders through its mobile app, three logistics hubs, and fleet of refrigerated trucks. It also offers easy access to a new range of artisan, local, or niche products as well as food brands.

Read also -  Milan-based Planet Farms Secures $40 Million in Funding

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