TenOneTen Ventures’ Post

🛵💵 Food delivery startup secures funding boost. Wonder, a delivery-centric food hall concept, has secured a significant $700 million in funding to support its ambitious growth plans. Founder and CEO Marc Lore noted that $100 million came from his personal investment alongside contributions from both new and existing investors. With this latest funding round, Wonder has raised a total of $1.5 billion in equity to date. This substantial capital infusion has propelled Wonder's rapid expansion, transforming it from a "cold start" in January 2023 to a chain of 11 locations across three states today. Each Wonder location offers a variety of food options from up to 30 restaurant menus, which are available for delivery, pickup, or dine-in. Food preparation occurs at a central commissary, with final preparations completed in-store using minimal equipment. With the new financing, Wonder aims to accelerate its expansion plans, intending to grow to 35 locations by the end of the year and scale up to 90 locations by the end of 2025, focusing on the Northeast region. The company plans to invest in various areas, including improving cook times, introducing new menu items and restaurant brands, implementing technology to reduce food waste, and enhancing its delivery network to ensure timely courier services. Wonder's recent achievements include the acquisition of meal kit company Blue Apron, the launch of a B2B division in partnership with Nestlé, and a collaboration with Walmart to open potential locations within Walmart stores. Lore also highlighted that Wonder has achieved three key goals he set for the company, including delivering all 30 menus from one location in under 30 minutes on average, achieving a Net Promoter Score of 60 or higher, and attaining profitability at the unit level. More information in the full article: https://lnkd.in/eUV5NuNa #ForwardFooding #funding #fooddelivery #foodtech #foodservice #innovation

With this huge influx of capital, Marc Lore aims to scale Wonder to 90 brick-and-mortar locations by the end of next year. Today, there are 11 of them... a little over a year ago there were none. The serial entrepreneur is also pumping the cash into its proprietary tech stack, new restaurant partnerships, and operational improvements to maintain its goal of an average order-to-eat time of under 30 minutes. Featuring 350 menu items from 30 restaurants and powered by a commissary kitchen, Wonder, Lore says, will be "the super app of mealtime." What do you think? What impact could this venture have on the industry? https://hubs.li/Q02qb2430 #foodtech #restaurantdevelopment #Wonder #MarcLore #RestaurantSpaces

Summary: This article discusses the importance of an online presence for restaurants and the challenges they face in maintaining it. It also introduces Superorder, a platform that provides websites, menus, photos, and tools for order management, marketing, financial management, and more to restaurants, which recently raised $10 million in a funding round. Key takeaways: Restaurants need to adapt and become good at technology to protect their margins and grow their sales. 77% of diners visit a restaurant’s website before they dine in or order out from the establishment. Superorder provides websites, menus, photos, and tools for order management, marketing, financial management, and more to restaurants. Counter arguments: Many virtual restaurants struggle with the cost of finding additional delivery people and marketing a location that’s virtually invisible to the public. There are concerns about the accuracy of AI-generated images for virtual restaurants, as inaccuracies could lead to lawsuits over false advertising. #startups #venturecapital #capitalmarkets #foodtec #consumertech #startup #vc #fundraising #marketanalysis

🎉 Celebrating 1 Year of Innovation at 3Dish! 🎉 3Dish celebrated its first year! Let me share a bit of our journey until now. From the outset, our vision was straightforward: empower restaurants to showcase their dishes in 3D with the simplicity of a single click. Imagine updating a dish's 3D model across various platforms—from delivery and takeaway apps to digital menus and discovery platforms—all seamlessly integrated. Today, that vision is closer to reality than ever before. When we started with just a rudimentary PDF with hyperlinks to some 3D models, the first thing we did was try to get a paying customer. The quest for validation led us to secure not one but three pioneering restaurants (TikTak, Onda Mar, and Pizza no Bairro) as our first clients, each embracing an annual subscription €1,000 at that time. This early success was a sign that the market was ripe for innovation. In those early days, we took all the necessary photos ourselves to create the 3D models. The positive feedback was overwhelming, so we began further development. Since we were still too early to make any kind of partnership, we had to provide means of displaying these models to the clients, so we developed our own digital menu. Not ideal, but we needed traction. The evolution of our technology saw the creation of a non-automated kit for the clients to take the photos themselves, a precursor to something greater. But still, we needed to test the concept of leaving a kit with instructions at a restaurant. We went to the south of Portugal and, in 3 weeks, we left there 10 kits (new paying clients). Fast forward to today, and we are on the brink of unveiling our fully automated scanning kit and app. Our partnership for the installation and maintenance of interactive kiosks at restaurant entrances represents a leap forward, making our 3D models more accessible and engaging for customers. The journey has been exhilarating, with growing traction enabling us to forge meaningful partnerships across the industry. As we move forward, the need for our standalone digital menu diminishes, bringing our vision into sharper focus. Stay tuned for exciting updates and partnership announcements. The future is bright, and at 3Dish, we're just getting started 😄. #3Dish #Innovation #RestaurantTech #StartupJourney #DigitalTransformation #startups #technology #Restaurants #CEOJourney

From Appetite to Apex: The Unfolding Saga of Just Eat Takeaway.com. Chapter 1: Inception. In the early 2000s, Jesper Buch, a Danish entrepreneur, founded Just Eat in Denmark with a vision to revolutionize the way people order food. The platform was conceived as an online intermediary, bringing together local restaurants and customers in a convenient digital space. Buch's innovative approach aimed to simplify the food ordering process, allowing users to browse menus, place orders, and enjoy their favorite meals without the hassle of traditional phone-based ordering systems. The initial focus of Just Eat was on providing a user-friendly online platform that catered to the growing demand for home-delivered meals. Jesper Buch's entrepreneurial spirit and the team's dedication laid the foundation for what would eventually become a major player in the global food delivery industry. As the first chapter in Just Eat's story unfolded, the platform gained traction by embracing the potential of the internet to transform the dining experience. Little did they know that this ambitious venture would evolve over the years, transcending borders and reshaping the way people around the world access and enjoy a diverse range of cuisines. #startup #strategy #tech

Ben Leventhal, the visionary founder behind Resy & Eater, and his latest venture, Blackbird Labs, Inc. is making waves in the restaurant world. This new project has garnered significant funding, and here's why it's worth your attention: 🤝 At the heart of this venture is the fusion of commerce and community-building. By leveraging technology, Ben is creating a platform that puts local businesses in direct contact with its customers. 💡 Why It's Interesting: Empowering Local Businesses: This initiative empowers local businesses by offering them a digital storefront and access to a more in-depth look at their customer base. It's a lifeline for small businesses in a digital-first world. Enhanced Shopping Experience: Consumers can discover and support local businesses while enjoying a curated and personalized dining experience. 💰 Funding Breakdown: Blackbird has secured $24 million through Andreessen Horowitz on top of $11 million in seed money raised last year from Union Square Ventures fund. This investment signifies a strong belief in the potential of commerce platforms that prioritize community and local businesses. 🌐 The intersection of commerce and community-driven initiatives is reshaping the way we shop and connect with local businesses. Blackbird is a prime example of how technology can foster growth, support local economies, and enhance our dining experiences. 📰 Read the Article Here: https://lnkd.in/gj7acfQj

In today's competitive restaurant landscape, staying ahead means embracing innovation. Dynamic pricing isn't just a buzzword; it's potentially a game-changer for eateries aiming to optimize revenue while enhancing customer satisfaction. However, it needs to be rolled out and handled responsibly. Check out this article from the team at Fast Casual discussing embracing the power of flexibility, maximizing revenue potential, and delighting customers with personalized experience through dynamic pricing. #dynamicpricing #restaurants #customerexperience

#Lastapp, located in #Barcelona, raises €5 million in #funding. With participation from current #investors All Iron and Bynd, the pan-European venture capital firm Nauta Capital led this round. #European restaurant owners’ lives are being changed by Last.app. Its special paradigm for an #operating system for #restaurants is made to interface with any kind of hardware and software, making it simple and quick for any kind of restaurant to get up and #running. Last.app achieved #distinction and high customer #satisfaction by providing a solution that can be #tailored to meet the particular requirements of individual businesses, as shown by it #impressive and diverse clientele, which includes small-scale dining places, huge #restaurant chains, and delivery services. Iván and Eric Nikolic founded Last.app in 2019 to fill a #significant void in the #hospitality industry. In the past, restaurants required updating their systems or employ a wide range of apps to adjust to #changing client needs. Last.app All Iron Ventures Nauta Capital Ivan Nikolic Fraguela Eric Nikolic To share your startup story write us on - contact@startuprise.co.uk #lastapp #funding #eustartup

This week's startup spotlight shines on CLUVI Cluvi provides digital solutions for restaurants in Latin America, such as digital menus, online reservations, in-house ordering platforms, and behavioral analytics. - 5 Colombian entrepreneurs with 25+ years of collective experience in the food tech and restaurant industry founded Cluvi. - 6 countries where Cluvi operates - Brazil, Mexico, Colombia, Panama, Peru, and El Salvador. - 2021, the year Cluvi was founded. - 2,000+ brands operate with Cluvi. - 4,000+ restaurants across Latin America and the US. - 200,000 trees saved each year with their digital menu. - 100% customizable menu. - 40-500% increase in sales of specific products promoted on their app. - 2.7M+ raised. - 3 million consumers are served each month. Read the full story on Founders Launchpad: https://lnkd.in/e_YePGFM #startups #founderstories #retailtech

Milano Vice cooks up $9M in Series A funding to expand its delivery-first pizza restaurant model. 🍕 The Berlin foodtech company partners with existing professional kitchens to produce its pizzas, and has helped small businesses quadruple their revenues by leveraging underutilized capacity. Since launching in early 2022, co-founders Dennis Murselovic and Rudolf Donauer have partnered with more than 60 businesses across Germany and sold over one million pizzas. We’re excited to continue backing Milano Vice in the latest round led by Coefficient Capital, with contributions from True. and Geschwister Oetker Beteiligungen KG, plus additional support from Ole Strohschnieder (Just Spices), David Brunier (Flash Coffee), Christian Gaiser (numa) and Wittleben Fabian (CG Partners). Tech.eu has more on how Milano Vice is leveling up its proprietary tech and expanding across Germany. 👇 https://lnkd.in/etxQdVKH #foodtech #fooddelivery #berlinstartups #venturecapital