Deliveristo, a Milan-based food delivery platform that connects restaurant owners and suppliers, has raised €7 million ($7.14 million) in a funding round led by Vertis.
The round also saw participation from United Ventures SGR, Azimut Libera Impresa SGR, Gellify Digital Investments, Doorway and several angel investors, according to a Tech Funding News report Monday (Aug. 8).
The new funds will be used to help Deliveristo consolidate the Italian market, expand its operations into other European countries and launch new services. Currently, Deliveristo’s customer base is focused in cities, including Milan, Turin, Rome, Bologna and Florence, with suppliers located all over Italy.
Discussing the latest fundraise, Ivan Aimo, CEO and co-founder of Deliveristo, said, “We are pleased to welcome Vertis SGR, Azimut Digitech Fund and other new investors, as well as grateful to United Ventures and previous investors for continuing to support what we are building.
“As we continue our journey, we realize how much this sector still needs digitization and innovation. The goal of this round is to offer more and more services to suppliers and restaurateurs, to validate the model in other countries and to make the company ready for a significant round of expansion, on which we will start working right away.”
Founded in 2019 by Aimo alongside co-founders Luca Calia and Gabriele Angeleri, Deliveristo has set about digitizing hospitality supply chains with a B2B marketplace that puts chefs and restauranteurs in direct contact with suppliers. Orders for food products are made via the Deliveristo app, which currently lists over 60,000 items from over 350 Italian suppliers.
For buyers, Deliveristo has the advantage of centralizing purchases and billing, while allowing them to shop around from a single interface. It can also increase visibility and turnover for suppliers, per the report.
“Deliveristo has a lean cost structure and scalable business model,” said Alessandro Pontari, investment director of Vertis, per the report. “Its experienced team has proven its execution capacity and has achieved excellent results. [It also] has a positive impact in terms of sustainability, bringing reduction of food waste, greater transparency in the supply chain and lower CO2 emissions related to transport.”
See more: As Food Costs Soar, UAE Restaurants Seek Relief From Managed Marketplaces
As Dani El-Zein, co-founder of Dubai-based supply chain management software startup Supy, recently told PYMNTS, complicated procurement processes and having to manage relationships with multiple suppliers can be a challenge for restaurants.
Supy is looking to solve this issue with data and greater visibility, El-Zein said, “so that [restaurants] can then be empowered to take smarter decisions on how they’re going to work with suppliers.”
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