Tracxn - Food Tech Startup Landscape

Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - FoodTech - Mar 2018
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
2
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Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
3
Feed Summary
Investment Trend Summary
Exit Outlook Summary
BlueBox
Summary of Key Markets
Notable Companies in the Sector
Recent News

Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on March 28, 2018.
FoodTech Feed Summary
4
FoodTech > Feed Summary
Companies that use Internet-based technologies for preparation and distribution of food and beverages and companies
that develop next generation foods to replace conventional food habits.
• Inclusions: 1) Companies that provide online platforms to discover,
buy and sell food and beverages.2) Companies that develop IoT enabled
food appliances.3) Companies that provide SaaS-based solution to food
service industry.4) Companies that aggregate and publish food-related
content on their online or mobile platforms.5) Companies that develop
next generation foods like food substitutes, meal replacement products,
fortified food and insect-based food.
• Exclusions: 1) Discovery platforms for multiple services that provide
restaurant discovery as well, e.g. yelp.com2) Restaurants which allow
table reservation or food ordering from their websites3) Retailers and
food product brands that sell through both offline and online channel4)
Personal blogs of food-specific content
• Excludes funding information of Chinese companies
Feed in Numbers
Overview
$12.5B
Funding
37
Mega
Companies
14747605
FundedCovered on
Tracxn
9
Unicorns
29
Soonicorns
69
Minicorns
15
IPO’d Cos
388
Late Stage Cos
83
35
Acquisitions
1302
DeadPooled
265
Acquihired
Series A+ Cos
GrubHub
(2004, Chicago, Public)
Delivery Hero
(2011, Berlin, Public)
HelloFresh
Top Companies

656
894
1,105
1,800
1,034
299
2012 2013 2014 2015 2016 2017
Y-o-Y # of Companies Founded
$415M $564M
$1.9B
$2.9B
$2.B
$2.4B
2012 2013 2014 2015 2016 2017
$ Funding # Rounds
Investment Trend Summary
Summary of Funding Activity in FoodTech
5
$421M - Series I
Delivery Hero (2011, Berlin, $1.8B)
$108M - Series D
Impossible Foods (2011, Redwood City,
$366M)
$385M - Series F
Deliveroo (2013, London, $958M)
$101M - Series C
Toast (2011, Boston, $131M)
$275M - Series E
$100M - Series F
Swiggy (2014, Bangalore, $259M)
$152M - Series H
Zomato (2008, Gurgaon, $376M)
$98M - Series F
$127M - Series C
DoorDash (2013, Palo Alto, $722M)
$88.8M - Series G
HelloFresh (2012, Berlin, $367M)
Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend
FoodTech > Feed Summary > Investment Trend Summary
Seed FJ Labs (#7), High-Tech Grunderfonds (#6), New Crop Capital (#6)
Series A/B GV (#7), Khosla Ventures (#7), Bessemer Venture Partners (#6)
Series C+ Insight Venture Partners (#3), Naspers (#2), RB Investments (#2)
Incubators 500 Startups (#56) SOSV (#28) Y Combinator (#27)
Other Notable
Investors
Kima Ventures (#14), IndieBio (#10), Crowdcube (#9)
Debt Investors
Western Technology Investment (#10), InnoVen Capital (#4),
Lighter Capital (#4)
Most Active InvestorsRecent Investments
155 243 284 378 372 227
$5.8B
$4.7B
$933M
$156M
$149M
US
Europe
India
Canada
Latam
$ Funding

Summary of exit outlook in FoodTech
Exit Outlook Summary
66
Most Active AcquirersTop Investors in Exits
Holtzbrinck
Ventures
3
Index Ventures 2
Just Eat (2001, London, $129M)
Benchmark Capital 2
GrubHub (2004, Chicago, $84.1M)
OpenTable (1998, San Francisco, $12M)
Phenomen Ventures 2
Rocket Internet 2
Jul 2017 Daiya Foods Acq by Otsuka for $324M
Sep 2015 Quorn Foods Acq by Monde Nissin for $831M
May 2015 Menulog Acq by Just Eat for $678M
May 2015 Yemek Sepeti Acq by Delivery Hero for $589M
May 2015 Foodonclick Acq by Delivery Hero for $589M
Jun 2014 OpenTable Acq by Priceline Group for $2.6B
Jun 2011 Cellarmasters Acq by Woolworths for $340M
FoodTech > Feed Summary > Exit Outlook Summary
Delivery Hero 4
Yemek Sepeti (May 2015, $589M), Foodonclick (May 2015,
$589M), Foodpanda (Dec 2016)
Just Eat 3
Menulog (May 2015, $678M), HungryHouse (Mar 2017, $245M),
iFood (Sep 2014, $5.7M)
Google 1 Zagat (Sep 2011, $151M)
Court Square
Capital Partners
1 AFS Technologies (Feb 2014)
Symphony
Technology
Group
1 Fishbowl (Jan 2017)
Recent IPOs Top Acquisitions
Takeaway Sep 2016
Online ordering for takeaway orders
IPO MCap: $1.1B Current MCap: $1.1B
GrubHub Apr 2014
Online and mobile food ordering platform
IPO MCap: - Current MCap: $9.2B
Just Eat Apr 2014
Online platform to order food from partne…
Cookpad Jul 2009
Online recipe aggregator
IPO MCap: - Current MCap: -
HelloFresh Nov 2017
Meal recipe kit subscription service
Delivery Hero Jun 2017
Online platform to order food for deliver…
IPO MCap: $5.3B Current MCap: $8.7B
Blue Apron Jun 2017
Weekly subscription based meal kits deliv…
IPO MCap: $1.9B Current MCap: $392M
Dragontail Systems Dec 2016
Process optimization software for food pr…
IPO MCap: $25.2M Current MCap: $20.4M

March 2018Tracxn BlueBox – Food Tech
BEVERAGE
NOVEL FOOD
FOOD DISCOVERY & ORDERING $8.5B
Online Ordering
Restaurant Aggregator
Delivery Hero
(2011, Berlin, $1.8B, IPO)
Internet First Restaurant
Munchery
(2011, San Francisco, $122M)
Dine-Out
Zomato (2008, Gurgaon, $423.3M)
Snacks & Confectionery
NatureBox (2012, San Carlos, $58.5M)
Chef Marketplace
Kitchensurfing (2012, Brooklyn,
$19.47M)
Recipe Box
Blue Apron
(2012, New York City, $194M, IPO)
CONTENT PLATFORM
Tastemade (2012, Santa Monica, $80M)
$272M
HARDWARE
& IOT SOLUTION
$678M
Smart Kitchen Appliance
Juicero
Vending & Dispensing
Coravin (2011, Burlington, $62M)
Food Analyzer
Nima (2013, San Francisco, $13M)
ENTERPRISE SOLUTION $1.3B
Restaurants
Toast Tab (2011, Boston, $131M)
AlcoBev
SteadyServ Technologies (2012, Indianapolis, $20M)
$477M
Alcoholic
Multi-Category
Jiuxian (2010, Beijing, $251M)
Wine
Lot18 (2010, New York City, $45M)
Beer
Hopsy (2015, Albany, $1.55M)
Bar Aggregator
Hooch (2015, New York City, $8.44M)
Non Alcoholic
Tea
Teabox (2012, Bangalore, $15M)
Coffee
Pact Coffee (2013, London, $4.38M)
$1.2B
Food Substitute
Impossible Foods
(2011, Redwood City, $366M)
Meal Replacement
Soylent (2013, Los Angeles, $74.5M)
Fortified Food
AQUAhydrate
(2004, Los Angeles, $16M)
Insect Protein
Exo (2013, Brooklyn, $5.6M)
FoodTech > Feed Summary > BlueBox
7600+ companies in the sector, 1039 funded in last 5 years, $5.2B invested in last 2 Years
Most Active Investors: 500 Startups, SOSV , Y Combinator, Kima Ventures, Techstars
7
Cumulative funding in the marketFunding data excludes Debt, Grants & Post-IPO rounds. Excludes all details for Chinese companies
For any Feedback and Query reach out to MyAnalyst@tracxn.com

Key Sub Sectors in FoodTech Sector
Summary of Key Markets
8
Top Markets of Investment Activity
# Cos on
Platform
Last 2 Years
$ Invested # Round
Food Discovery & Ordering > Online
Ordering > Restaurant Aggregator >
Delivery >
Platform Delivered
462 $2.1B 39
Food Discovery & Ordering >
Recipe Box 212 $427M 34
Enterprise Solution > Restaurants > Order
Management >
POS
329 $206M 20
Ordering > Internet First Restaurant >
On-demand
540 $132M 49
Hardware and IoT Solutions >
Smart Kitchen Appliances 63 $203M 19
Novel Foods > Food Substitutes >
Dairy free 37 $179M 15
Ordering > Restaurant Aggregator >
Delivery > Platform Delivered >
Office focused
65 $139M 19
Ordering > Internet First Restaurant >
Pre-ordered Ready-to-heat Meals
359 $140M 12
Food Discovery & Ordering > Dine-Out >
Reservation & Ordering >
Table Booking
193 $72.7M 22
Sub Sectors
# Cos
Tracked
#
Funded
Total
Funding
Food Discovery & Ordering
Companies that provide online or mobile platform for
discovering restaurants, ordering...
3987 726 $8.5B
Enterprise Solution
Companies that provide technology solutions and SaaS
platforms for Food & Beverage industry
1209 283 $1.3B
Novel Foods
Companies working on next generation foods which
aim to replace current food habits or...
289 89 $1.2B
Hardware and IoT Solutions
Companies that develop smart kitchen appliances or
IoT-enabled hardware for food industry...
232 103 $678M
Beverages
Companies that provide online platform for discovery,
recommendations, and ordering of...
1329 160 $477M
Content
Companies that provide online or mobile platform to
access or share food related content...
556 112 $272M
FoodTech > Feed Summary > Summary of Key Markets

List of Notable Companies in FoodTech
Notable Companies in the Sector
9
Note: *(Founded Year, Location, Total Funding)
FoodTech > Feed Summary > Notable Companies in the Sector
Public
Delivery Hero
(2011, Berlin, $1.8B)*
HelloFresh
(2012, Berlin, $367M)
Blue Apron
(2012, New York City, $194M)
Takeaway
(2000, London, $119M)
Dragontail Systems
(2013, Ramat Gan)
Posera
(1999, London)
Just Eat
(2001, London, $129M)
GrubHub
(2004, Chicago, $84.1M)
Goodfood
(2014, Quebec City, $1.1M)
Ecoark Holdings
(2011, Fayetteville)
Public
MyTaste
(2014, Stockholm)
PAR Technology Corp
(1978, New Hartford)
SureQuest Systems
(1984, Carrollton)
Cookpad
(1997, Tokyo)
Gurunavi
(1989, Tokyo)
Acquired
OpenTable
Quorn Foods
(1985, Stokesley)
Menulog
(2006, Sydney)
Yemek Sepeti
(2000, Istanbul, $44M)
Foodonclick
(2010, Riyadh)
Cellarmasters
(1982, Surry Hills)
Daiya Foods
(2008, Vancouver)
HungryHouse
(2006, London, $293k)
Quandoo
(2012, Berlin, $33M)
So Delicious Dairy Free
(1987, Eugene)
Acquired
Allrecipes
(1997, Seattle, $1M)
Talabat.com
(2004, Kuwait City)
Gardein
(2003, Richmond)
Zagat
(1979, New York City)
The Fork
(2007, Paris, $14.2M)
Yelp Eat24
(2008, San Bruno)
Field Roast
(1997, Seattle)
Anova Culinary
(2013, San Francisco, $1.3M)
Naked Wines
(2008, Norwich, $10M)
Unicorns
Deliveroo
(2013, London, $958M)
DoorDash
(2013, Palo Alto, $722M)
Zomato
(2008, Gurgaon, $376M)

List of Notable Companies by Market in FoodTech
Notable Companies by Market (1/8)
11
FoodTech > Feed Summary > Notable Companies by Market
Online Ordering
Online platform to order food for delivery from
partnered restaurants
Unicorn. Stage: Public
Naspers, General Atlantic, Rocket Internet and 28
Other Investors
Unicorn. Stage: Series F
T. Rowe Price, Fidelity Investments, DST Global and
17 Other Investors
On-demand food delivery marketplace
Unicorn. Stage: Series D
SoftBank Group, Sequoia Capital, GIC and 11 Other
Investors
Online Ordering
Online platform that delivers food from restaurants
Soonicorn. Stage: Series F
Naspers, Meituan, Accel Partners and 7 Other
Investors
Just Eat (2001, London, $129M)
Online platform to order food from partnered
restaruants
Vitruvian Partners, Index Ventures, Greylock
Partners and 3 Other Investors
Takeaway (2000, London, $119M)
Online ordering for takeaway orders
Macquarie Group, Prime Ventures, EMB Ventures
and 1 Other Investors
Online Ordering
Freshly (2012, New York City, $107M)
Internet first restaurant in NYC
Soonicorn. Stage: Series C
Highland Capital Partners, White Star Capital,
Insight Venture Partners and 6 Other Investors
Baemin (2010, Seoul, $98M)
Food ordering and delivery service
Soonicorn. Stage: Series E
Hillhouse Capital Group, Goldman Sachs,
CyberAgent Ventures and 2 Other Investors
GrubHub (2004, Chicago, $84.1M)
Online and mobile food ordering platform
Lightspeed Venture Partners, Benchmark Capital,
DAG Ventures and 9 Other Investors

12
Online Ordering
ezCater (2007, Boston, $70M)
Online Caterers Marketplace and Concierge service
for enterprises
Soonicorn. Stage: Series D
Iconiq Capital, Insight Venture Partners, Breton
Capital and 8 Other Investors
Eat Club (2010, Palo Alto, $46.5M)
Restaurants delivery to office
Sodexo, August Capital, Trinity Ventures and 7
Other Investors
Yemek Sepeti (2000, Istanbul, $44M)
Online food ordering platform
Stage: Acquired
General Atlantic, Mena Venture investments,
Endeavor and 2 Other Investors
Online Ordering
ZeroCater (2009, San Francisco, $5.6M)
Food Catering for Office
Soonicorn. Stage: Series A
Romulus Capital, Struck Capital, SV Angel and 4
Other Investors
HungryHouse (2006, London, $293k)
Order takeaway online
Stage: Acquired
Foodonclick (2010, Riyadh)
On-demand food ordering platform in middle east
Stage: Acquired
Menulog (2006, Sydney)
Online food ordering service
Stage: Acquired
Kadima Group
Talabat.com (2004, Kuwait City)
Food Delivery Service Provider
Stage: Acquired
Dine-Out
Online platform for food discovery, ordering table
booking at restaurants
Unicorn. Stage: Series H
Ant Financial, Vy Capital, Temasek and 10 Other
Investors
Quandoo (2012, Berlin, $33M)
Online restaurant reservation platform as well as
SaaS provider to restaurants
Minicorn. Stage: Acquired
Recruit Holdings, Piton Capital, DN Capital and 11
Other Investors
Reserve (2014, New York City, $27M)
Online restaurant reservations
Soonicorn. Stage: Series B
Expa, First Round Capital, Human Ventures and 24
Other Investors

13
Dine-Out
The Fork (2007, Paris, $14.2M)
Book the best restaurants in Europe
Serena Capital, Partech Ventures, Otium
OpenTable (1998, San Francisco, $12M)
Online Restaurant Reservation Provider
Editor's Pick. Stage: Acquired
Zagat, American Express, Benchmark Capital and 10
Other Investors
Zagat (1979, New York City)
Restaurant ratings, reviews, news
Gurunavi (1989, Tokyo)
Restaurant reservations
Stage: Public
Yelp Eat24 (2008, San Bruno)
Online food ordering and delivery platform
Stage: Acquired
Recipe Box
Baillie Gifford, Rocket Internet, Insight Venture
Blue Apron (2012, New York City, $194M)
Weekly subscription based meal kits delivery
Fidelity Investments, Stripes Group, Bessemer
Venture Partners and 5 Other Investors
Sun Basket (2011, San Francisco, $94.8M)
Recipe box with pre measured ingreedients
August Capital, Sapphire Ventures, Accolade
Plated (2012, New York City, $79.7M)
Subscription based recipes & meal kits
Soonicorn. Stage: Acquired
Greycroft Partners, Formation 8, FF Venture Capital
Recipe Box
Gousto (2012, London, $78.2M)
Recipe kit subscription and grocery delivery
Hargreave Hale, Angel CoFund, MMC Ventures and
3 Other Investors
Home Chef (2013, Chicago, $50.8M)
Weekly chef prepared recipes, fresh ingredients
and step-by-step instructions delivered
L Catterton, Guild Capital, Breakpoint Ventures and
3 Other Investors
Goodfood (2014, Quebec City, $1.1M)
Online platform for ordering recipe boxes
Minicorn. Stage: Public
GMP Securities, NBF INTERNATIONAL S.A.,
Cormark Securities and 2 Other Investors

14
Snacks & Confectionery
NatureBox (2012, San Carlos, $58.5M)
Subscription based healthy snacks provider
Global Founders Capital, Neuberger Berman,
Kensington Capital Holdings and 8 Other Investors
Beverages
Alcoholic
Wine (1998, San Francisco, $57.3M)
Online Retailer of Wine
Baker Capital, Chris Kitze, Runtide Capital
Naked Wines (2008, Norwich, $10M)
Wine club with an e-commerce subscription model.
Cellarmasters (1982, Surry Hills)
Online wine retailer based in Australia
Stage: Acquired
Novel Foods
Food Substitutes
$366M)
Developer of substitute for animal meat based food
Temasek, Open Philanthropy, Bill Gates and 9 Other
Investors
Beyond Meat (2009, Manhattan Beach, $104M)
Develops substitute for animal based food products
Soonicorn. Stage: Series F
Tyson Foods, Cleveland Avenue, Seth Goldman and
17 Other Investors
Gardein (2003, Richmond)
Food product brand of plant based meat-substitiute
TSG Consumer Partners
Daiya Foods (2008, Vancouver)
Dairy-free cheese alternative
Northwood Ventures

15
Novel Foods
Food Substitutes
Field Roast (1997, Seattle)
Manufacturer and brand of substitute for meat
based food
Stage: Acquired
Quorn Foods (1985, Stokesley)
Producer and supplier of alternative meat
substitute products
Stage: Acquired
Exponent Private Equity
So Delicious Dairy Free (1987, Eugene)
Milk alternatives that are vegan and non-GMO
certified
Stage: Acquired
Meal Replacements
Meal replacement product that provides all the
essential nutrients in a serving
GV, Tao Capital Partners, Lerer Hippeau Ventures
Content
Multi Channel Networks
Tastemade (2012, Santa Monica, $80.3M)
A video network for foodies
Goldman Sachs, Redpoint Ventures, Raine Group
Dely (2014, Shibuya, $61.8M)
Culinary Media Start-up
SoftBank Group, Akatsuki_JP, United Internet and 9
Other Investors

16
Content
Recipe Aggregators
Allrecipes (1997, Seattle, $1M)
Online social network of food
Stage: Acquired
The Cambria Group
MyTaste (2014, Stockholm)
Online recipe aggregator platform
Editor's Pick. Stage: Public
Cookpad (1997, Tokyo)
Online recipe aggregator
Stage: Public
Smart Kitchen Appliances
Anova Culinary (2013, San Francisco, $1.3M)
Sous vide cooker
Stage: Acquired
Food Analyzers
Innit (2013, San Francisco, $43M)
Phase sensors to manage and connect food
information
Soonicorn. Stage: Series A
S2G Ventures

17
Enterprise Solution
Restaurants
PoS software provider for restaurant management.
Generation Investment Management, Lead Edge
Capital, Bessemer Venture Partners and 2 Other
Investors
Revel Systems (2010, San Francisco, $127M)
iPad-based restaurant management solution
WCAS, ROTH Capital, Welsh Carson Anderson
Stowe and 4 Other Investors
Tillster (2006, San Diego, $85.8M)
SaaS-based online ordering, marketing and
analytics solution for restaurant
AllegisCyber, Pinnacle Ventures
Paytronix (2001, Newton, $65M)
Restaurant loyalty solutions
Soonicorn. Stage: Funded
Great Hill Partners
Restaurants
Olo (2005, New York City, $53.8M)
SaaS-based online ordering solution for restaurant
Raine Group, Core Capital Partners, RRE Ventures
E la Carte (2008, Palo Alto, $52.5M)
SaaS-based restaurant management solution
through tablets
Trinity Capital Investment, Western Alliance
Bancorporation, TriplePoint Capital and 8 Other
Investors
ChowNow (2010, Santa Monica, $42.8M)
Mobile and Facebook ordering platform for
restaurants
Catalyst Investors, Upfront Ventures, Daher Capital
Restaurants
Upserve (2009, Providence, $40.5M)
Cloud-based payment processing and business
analytics
Vista Equity Partners, First Round Capital, Index
Ventures and 6 Other Investors
TouchBistro (2011, Toronto, $37.3M)
POS for restaurants
Napier Park Global Capital, Recruit Holdings, BDC
Orderbird (2011, Berlin, $37.1M)
iPad PoS System for the hospitality industry.
Digital+ Partners, METRO, Concardis and 2 Other
Investors
Ecoark Holdings (2011, Fayetteville)
Offers supply chain solutions for improved shelf life

18
Enterprise Solution
Restaurants
PAR Technology Corp (1978, New Hartford)
POS and food safety solutions for restaurants
Posera (1999, London)
Enterprise solution provider to the restaurants
Stage: Public
SureQuest Systems (1984, Carrollton)
Food service management software solution
Stage: Public
Dragontail Systems (2013, Ramat Gan)
Process optimization software for food preparation
& delivery
Stage: Public

List of Notable Companies in FoodTech in China
Notable Companies in the Sector in China
19
FoodTech > Feed Summary > Notable Companies in the Sector in China
Acquired
Baidu Waimai
(2011, Beijing, $250M)
Unicorns
Ele.me
(2008, Shanghai, $2.3B)
Jiuxian
(2010, Beijing, $251M)
Baidu Waimai
(2011, Beijing, $250M)
Soonicorns
Yi jiu pi
(2014, Beijing, $175M)
Meiweibuyongdeng
(2013, Shanghai, $99M)
Ricebook
(2012, Beijing, $53.5M)

Recent News in FoodTech Sector
Recent News
20
FoodTech > Feed Summary > Recent News
Mar 2018 Global hedge fund Coatue in talks to buy stake in Swiggy, Indiatimes
Mar 2018
foodpanda Officially Launches Its Operations in Rawalpindi,
ProPakistani
Mar 2018
Lavazza to focus on organic growth after acquisitions boost 2017
core profits, Reuters
Mar 2018
Apptizer Mobile and Kiosk Order-Ahead Now Available for First
Data Clover, Business Wire
Mar 2018
Resy Partners with Upserve to Offer Restaurants Guest Insights,
Hospitality Tech
Mar 2018
Foodpanda appoints Anshul Khandelwal as head of marketing,
Indiatimes
Mar 2018
HelloFresh Passes Blue Apron As Biggest Meal Kit Company In The
US, PYMNTS
Mar 2018
Blue Apron and Airbnb Partner to Bring Home Cooks a Global
Culinary Experience, Business Wire
Mar 2018
xtraCHEF, a Hospitality Cost Intelligence and Accounts Payable
Platform, Announces $3 Million Financing to Fuel Growth, PRWeb
Mar 2018
Easy-to-Use Spoon Guru Technology Launches in the US Providing
the Most Accurate Shopping Experience for Consumers’ Food Needs,
Business Wire
Mar 2018
Qraved integrates Go-Food API, enabling food delivery through its
mobile app, E27
Mar 2018
Keurig and EVOCA Group Announce Partnership on a New Café
Brewing System for the Away from Home Channel, Business Wire
Key Recent News Key Recent News
Mar 2018
Getting New Customers in the Door: “Punchh Acquire” Launches in
Beta to Restaurant Marketing Platform, Business Wire
Mar 2018
B2B foodtech startup HungerBox raises Rs 4 Cr fresh round,
Entrackr
Mar 2018
HelloFresh's Growth Shows Blue Apron's Problems Are Self-
Imposed, The Motley Fool
Mar 2018
Keurig, Evoca Team To Debut Away From Home Brewer, HomeWorld
Business
Mar 2018
Bill Gates and Richard Branson are betting lab-grown meat might be
the food of the future, CNBC
Mar 2018 Swiggy, PhonePe join hands for simplified payment, Indiatimes
Mar 2018
Zomato CEO claims $100 million in annualised revenue run rate;
40% growth in last 2 months, Indiatimes
Mar 2018
Urbanpiper raises Pre-Series A funding led by Zoho co-founder
Kumar Vembu, Indiatimes
Mar 2018
HelloFresh revenue jumps and aims to breakeven in Q4 2018, Food
Dive
Mar 2018
CaterTrax Appointed New Chief Executive Officer,
BestProductsReview
Mar 2018
Newest Apple Pay promo offers free deliveries from Eat24, Grubhub
& Seamless, AppleInsider
Mar 2018
Impossible Burger offered at Oakland A's home games,
MeatPoultry.com
Mar 2018 Foodpanda introduces new retail restaurant in Singapore, The Drum

Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
21
Funding Trends
Median Deal Size and Trend
New Entrants in Funding Club
Distribution of companies by Funding Range
Funding Funnel of the Sector
Top Investments and Investors
Investors in Unicorn club

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$230M
$364M $415M
$564M
$1.9B
$2.9B
$2.0B
$2.4B
0
50
100
150
200
250
300
350
400
$0k
$500M
$1.B
$1.5B
$2.B
$2.5B
$3.B
$3.5B
2010 2011 2012 2013 2014 2015 2016 2017
$ Funding # Rounds
3 Year CAGR
6 Year CAGR
Investments ($M) and number of rounds in FoodTech; 2010-2017
Global Funding Trends (1/2)
23
Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
FoodTech > Investment Trends > Global Funding Trends
#Rounds
$Funding
43% $ Funding
51% $ Funding
38% # of Rounds
15% # of Rounds

36 84 106 164 185 237 228 107
13 29 40 71
76 104 122
96
5 8 9 8 23 37 22 24
2010 2011 2012 2013 2014 2015 2016 2017
Seed Early Stage Late Stage
54
227
Total # of Rounds
$14M $23M $38M $77M $113M $130M $120M $107M
$69M $175M
$147M
$349M
$525M
$708M
$954M
$811M
$148M $166M $230M $138M $1.2B $2.1B $884M $1.5B
2010 2011 2012 2013 2014 2015 2016 2017
Seed Early Stage Late Stage
$130M $223M $215M $162M
$1.3B
$2.2B
$1.3B
$1.8B
0
5
10
15
20
25
30
0
500000000
1E+09
1.5E+09
2E+09
2.5E+09
2010 2011 2012 2013 2014 2015 2016 2017
$ Funding # of Rounds
24
Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Stage-wise Number of RoundsStage-wise $ Invested
New Entrants in Funded ClubMega Rounds
Global Funding Trends (2/2)
Investments ($M) and number of rounds in FoodTech; 2010-2017
FoodTech > Investment Trends > Global Funding Trends
85
111
141
144
210
191
93
975
$1.0M
$1.5M
$0.0M
$0.5M
$1.0M
$1.5M
$2.0M
$2.5M
$3.0M
0
200
400
600
800
1000
1200
2001-2011 2012 2013 2014 2015 2016 2017 Total
Entrants in Funding Club Avg. Ticket Size
2 6 5 5 20 28 24 22 $1M $1.3M $0.9M $1.6M $1.3M $1.4M $2.8M $1.5M
$230M
$2.4B
Total $ Invested

FoodTech > Investment Trends > Funding Trends by Geography
Investments ($M) and number of rounds in FoodTech
Funding Trends by Geography
Funding Trends by Geography Top Cities of Funding
City $ Funding # Rounds
Bay Area 2.9B 313
Berlin 2.6B 63
London 1.4B 100
New York City 850M 164
Delhi NCR 440M 66
Bangalore 352M 73
Boston 347M 48
Paris 203M 63
Chicago 188M 45
Los Angeles 158M 27
Total Funding
1038
486
203
49
34
32
34
14
# Rounds
$5.8B
$4.7B
$933M
$156M
$149M
$148M
$133M
$123M
US
Europe
India
Canada
Latam
Japan
Israel
South Korea
Note: Excludes funding information of China companies

Trend of Average Deal Size ($M)
$0.4 $0.5 $0.6
$0.8 $0.8 $0.8
$1.4
2011 2012 2013 2014 2015 2016 2017
$5.2
$3.2
$4.2
$6.1 $5.7 $5.7 $5.4
$13.0
$8.6 $9.1
$11.7 $13.0
$17.3 $17.7
$27.7 $25.6 $23.0
$64.0 $67.9
$46.5
$68.9
FoodTech > Investment Trends > Median Deal Size and Trend
Median and Average Deal Size in $M (per Stage) in FoodTech; 2011-2017
Median Deal Size and Trend
Note: Excludes funding information of Chinese companies. *Graph not to scale
Median Deal Size and Range
$5K* $11M
$50K $31M
$92K $80M
$50K $1B
$22M
$7M
$2.8M
$0.3M
Series C+
Series B
Series A
Seed
Stage

Note: 671 companies with undisclosed funding amount are not included
27
<$1M
$1-10M
$10-50M
$50-100M
$100M+
Funding Range
375
315
135
28
18
No. of Companies
FoodTech > Investment Trends > Distribution of companies by Funding Range
No. of companies by funding range in FoodTech; as of Mar 2018
Distribution of companies by Funding Range
$106M
$1.1B
$2.9B
$2.B
$6.4B
$ Investment

Stage No. of Companies
Funding
Funnel
100%
19%
5%
2%
1%
28
Note: Numbers in the brackets show the count of companies
Time to raise
next round
83
170
388
1474
7605
Series C+
Series B
Series A
Funded
Founded
Next
Round
100M+
Valuation
Exits
Acqui-
Hired
Dead
Pooled
Others
19% 1%
(64)
0%
(34)
4%
(281)
17%
(1302)
60%
(4548)
26% 4%
(53)
2%
(23)
10%
(151)
13%
(196)
50%
(739)
44% 11%
(42)
3%
(12)
16%
(61)
5%
(21)
35%
(136)
49% 24%
(40)
7%
(12)
16%
(27)
6%
(11)
29%
(49)
- 40%
(33)
12%
(10)
17%
(14)
5%
(4)
24%
(20)
FoodTech > Investment Trends > Funding Funnel
Number of companies progressing to subsequent funding stages in FoodTech
Funding Funnel
14 Months
16 Months
17 Months
Investment backedBootstrapped
29
9
27
12
8
3
Soonicorns
Unicorns
Acquisitions
IPOs

Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
FoodTech > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in FoodTech; Mar 2016-Mar 2018
Notable Investments in last 24 months (1/10)
LATE STAGE
$535M - Series D Mar 2018
On-demand food delivery marketplace
SoftBank Group, Sequoia Capital, GIC, Wellcome
Trust
$421M - Series I May 2017
Naspers
$385M - Series F Sep 2017
T. Rowe Price, Fidelity Investments, General Catalyst
Partners, DST Global, Index Ventures, Accel Partners
LATE STAGE
$275M - Series E Aug 2016
Bridgepoint Capital, DST Global, General Catalyst
Partners, Greenoaks, NGP Capital
$152M - Series H Feb 2018
Online platform for food discovery, ordering table
booking at restaurants
Ant Financial
$108M - Series D Oct 2016
Impossible Foods (2011, Redwood City, $366M)
$101M - Series C Jul 2017
Capital, Bessemer Venture Partners
LATE STAGE
$100M - Series F Feb 2018
Naspers, Meituan
$98M - Series F Nov 2017
T. Rowe Price, Fidelity Investments, DST Global,
General Catalyst Partners, Index Ventures, Accel
Partners
$88.8M - Series G Dec 2016
Baillie Gifford
$80.4M - Series E May 2017
Naspers, Accel Partners, SAIF Partners, Bessemer
Venture Partners, Harmony Partners, Norwest
Venture Partners

LATE STAGE
$77M - Series C Jun 2017
Highland Capital Partners, White Star Capital,
Insight Venture Partners, Nestlé US
$75M - Series D Aug 2017
Impossible Foods (2011, Redwood City, $366M)
Temasek, Open Philanthropy, Bill Gates, Horizon
Ventures, Khosla Ventures
$65M - PE Jan 2018
Paytronix (2001, Newton, $65M)
Restaurant loyalty solutions
Great Hill Partners
$65M - Series C Jan 2018
Ripple Foods (2014, Emeryville, $110M)
Developer of dairy free milk and milk products
Khosla Ventures, Fall Line Capital, S2G Ventures,
Goldman Sachs, GV, Prelude Ventures
LATE STAGE
$55M - Series F Dec 2017
Tyson Foods, Cleveland Avenue, Seth Goldman, Jack
& Suzy Welch, Thomas Middleditch, Candice Bergen
$50M - Series E Apr 2016
Baemin (2010, Seoul, $98M)
Food ordering and delivery service
Hillhouse Capital Group
$48M - Series C Sep 2017
Zume Pizza (2015, Mountain View, $99.4M)
Pizza chain that use robotics for preparation
$42.8M - Series D Jan 2018
Partners, Founders Circle Capital, Rembrandt
Venture Partners, Vulcan Capital, Relevance Capital,
Unilever Ventures, Correlation Ventures
LATE STAGE
$39.5M - Series C Mar 2018
Hargreave Hale, Angel CoFund, MMC Ventures,
Business Growth Fund
$35M - Series D Jan 2017
ezCater (2007, Boston, $70M)
Online Caterers Marketplace and Concierge service
for enterprises
Iconiq Capital, Insight Venture Partners
$30M - Series E Jul 2016
iFood (2011, Sao Paulo, $87.1M)
Food delivery platform
Just Eat, Movile
$30M - Series C May 2017
Eat Club (2010, Palo Alto, $46.5M)
Restaurants delivery to office
Sodexo, August Capital, Trinity Ventures

LATE STAGE
$25M - PE Jan 2018
Puris (1985, Minneapolis, $25M)
Organic Non-GMO soybean, corn and peas based
product processing and export
$23.5M - Series F Oct 2016
Tyson Foods
$22.8M - Series C May 2016
Digital+ Partners, METRO, Concardis
$22.5M - Series C Nov 2016
Coravin (2011, Burlington, $62.2M)
Wine pouring system without pulling the cork
$20M - Series C Feb 2018
Vivino (2010, Copenhagen, $57M)
Online community platform for wine enthusiasts
Balderton Capital, Creandum, Seed Capital, Iconical
LATE STAGE
$15M - Series D Sep 2016
Bessemer Venture Partners, Accel Partners, SAIF
Partners, Norwest Venture Partners, DST Global
$15M - Series C Feb 2017
Sapphire Ventures, Baseline Ventures, Accolade
Partners, Founders Circle Capital, J F Shea Company,
Relevance Capital, Vulcan Capital
$15M - Series C Aug 2017
Wine (1998, San Francisco, $57.3M)
Online Retailer of Wine
$13.3M - Series D Oct 2017
Chope (2011, Singapore, $24.7M)
Square Peg Capital, CapitaLand, Moelis, NSI
Ventures, SIG, SPH Ventures, DSG Consumer
Partners
LATE STAGE
$12.5M - Series C Sep 2017
Fooda (2011, Chicago, $24.6M)
Online curated food catering service for businesses
Lightbank, Valor Equity Partners, KGC Capital
POS for restaurants
Capital, Relay Ventures, Kensington Capital Partners
$11M - Series C Sep 2016
EatStreet (2010, Madison, $38M)
Online marketplace for food ordering
Unilever Ventures, Baseline Ventures, Founders
Circle Capital
$8.4M - Series F Aug 2017

LATE STAGE
$7.8M - Series C Nov 2017
Chef's Plate (2014, Toronto, $20M)
Recipe Box meal delivery
Acton Capital Partners, Emil Capital Partners,
InvestEco Capital, Comerica
$7M - Series C May 2016
Norwest Venture Partners, Accel Partners, DST
Global
$6.4M - Series C Apr 2017
Faasos (2011, Pune, $63.8M)
Multi-brand web and mobile-based cloud kitchen
Sequoia Capital, Lightbox Ventures, RB Investments,
ruNet
$1.1M - PE Apr 2016
Edo Capital
LATE STAGE
Series D Jul 2017
analytics
Vista Equity Partners
Series C Feb 2017
WCAS
EARLY STAGE
$70M - Series B Mar 2016
Juicero (2013, San Francisco, $89.8M)
IoT enabled kitchen juicer manufacturer
ARTIS Ventures, DBL Partners, KPCB, Campbell
Soup Co, First Beverage Group, GV, Thrive Capital,
Two Sigma Ventures
$58.3M - Series B Aug 2016
Greycroft Partners, Formation 8
$50M - Series B May 2017
Meal replacement product that provides all the
essential nutrients in a serving
GV, Tao Capital Partners, Lerer Hippeau Ventures,
Andreessen Horowitz

EARLY STAGE
$43M - Series B Dec 2017
Daily Harvest (2012, New York City, $44.5M)
Ready-to-blend smoothie delivery service
Lightspeed Venture Partners, VMG Partners,
Collaborative Fund, Rubicon Venture Capital, 14W,
Shaun White, Haylie Duff, Gwyneth Paltrow, Carter
Reum, Bobby Flay
$42.9M - Series B Sep 2017
Ritual (2014, Toronto, $42.9M)
Restaurant aggregator
Insight Venture Partners, Greylock Partners,
Mantella Venture Partners, Golden Venture
Partners, Mistral Ventures
$40M - Series B Sep 2016
Weekly chef prepared recipes, fresh ingredients and
step-by-step instructions delivered
L Catterton
EARLY STAGE
$40M - Series B May 2017
Dinova (2009, Johns Creek, $40M)
Online platform for corporate diners to dine-in in
Frontier Capital
$35.2M - Series B Aug 2017
Chef'd (2013, El Segundo, $40.5M)
Recipe-And-Ingredient Delivery Service For
Gourmet Meals
Campbell Soup Co, Smithfield Foods
$33.7M - Series B May 2017
Frichti (2015, Paris, $48.2M)
French fast food delivery service
Verlinvest, Felix Capital, Idinvest Partners, Alven
$32M - Series A Oct 2016
Habit (2015, Emeryville, $32M)
Data-driven personalized nutrition service
Campbells
EARLY STAGE
$31.7M - Series B Nov 2016
Wynd (2013, Paris, $41.9M)
SaaS based restaurant management
Sodexo, Orange Digital Ventures, Bpifrance
$30.2M - Series B Jan 2018
SoftBank Group, Akatsuki_JP, United Internet, Yahoo
Japan
$30M - Series B Jul 2016
Ripple Foods (2014, Emeryville, $110M)
Developer of dairy free milk and milk products
GV, Prelude Ventures, Tao Capital Partners, Khosla
Ventures, S2G Ventures, Collaborative Fund,
Blueberry Ventures, Radicle Impact Partners
$28.9M - Series B Oct 2016
Oatly AB (2001, Malmo, $32.5M)
Manufacturer and brand of oats based beverages
and foodproducts
Gullspang Invest, Industrifonden, Baltic Sea
Conservation Foundation

EARLY STAGE
$27.2M - Series B Mar 2017
YJ Capital, JAFCO, gumi ventures, Yusuke Sato
$24.7M - Series A Feb 2018
Perfect Day (2014, San Francisco, $26.7M)
Produces milk substitute through yeast
fermentation
Temasek, Horizons Ventures, Continental Grain,
Iconiq Capital, Lion Venture Partners, Verus
International
$23M - Series B Oct 2017
AME Cloud Ventures, Maveron, SignalFire, Kortschak
Investments
EARLY STAGE
$22.3M - Series A Jun 2016
Foodpanda India (2012, Delhi, $23.8M)
Online food ordering and delivery from restaurants
Favor (2013, Austin, $37M)
On demand delivery app
S3 Ventures
Insight Venture Partners, Highland Capital Partners,
White Star Capital
restaurants
Catalyst Investors
EARLY STAGE
MealPal (2015, New York City, $35M)
Subscription-based daily restaurant lunch provider
Menlo Ventures, Bessemer Venture Partners,
Comcast Ventures, Haystack Partners, NextView
Ventures
$20M - Series A Jan 2018
Restaurant365 (2011, Irvine, $20M)
ERP solution for restaurants.
Bessemer Venture Partners
$18M - Series A Jul 2016
Innit (2013, San Francisco, $43M)
Phase sensors to manage and connect food
information
Winc (2011, Los Angeles, $30.6M)
Wine retailer
Bessemer Venture Partners

EARLY STAGE
$17M - Series B Aug 2016
Drizly (2012, Boston, $34.8M)
On-demand alcohol delivery app
Polaris Partners
Accolade Partners, Founders Circle Capital,
Relevance Capital, Baseline Ventures, Vulcan Capital
Gobble (2010, Palo Alto, $27.1M)
Subscription based recipe kit delivery service
Khosla Ventures, Andreessen Horowitz, Trinity
Ventures, Initialized Capital
$15M - Series A Feb 2017
Subscription-based daily restaurant lunch provider
Comcast Ventures, Bessemer Venture Partners,
Haystack Partners, NextView Ventures, Krillion
Ventures
EARLY STAGE
POS for restaurants
BDC Capital, Round 13 Capital, Huff Capital, Relay
Ventures, Kensington Capital Partners
Unilever Ventures, MMC Ventures, Angel CoFund,
Barclays, Business Growth Fund
$11M - Series B Apr 2016
Wolt (2014, Helsinki, $13.7M)
Food ordering and delivery service.
EQT Ventures
$10.1M - Series B Apr 2017
BlueCart (2014, Menlo Park, $14.1M)
Online platform to connect vendors and restaurants
BlueRun Ventures, Columbia Partners, Focus
Ventures
EARLY STAGE
$10M - Series B Feb 2017
Expa, First Round Capital, Human Ventures
$8M - Series B Feb 2018
FoodLogiQ (2006, Durham, $12.3M)
Tracebility software as a service
$7.7M - Series B Jan 2017
Hungryroot (2015, New York City, $13.5M)
Vegetable based meals-boxes
Lerer Hippeau Ventures, Crosslink Capital
Magic Pin (2015, Delhi, $10M)
Cash back and deals at local restaurants
WaterBridge Ventures, Sri Rajan, Lightspeed
Venture Partners, Moonstone, Vy Capital
Chewse (2011, San Francisco, $15M)
Online marketplace for corporate catering and
events
Foundry Group, Telegraph Hill Capital, Rocketship

EARLY STAGE
$7.1M - Series A May 2016
Vulcan Capital, Robertson Stephens, Rembrandt
Venture Partners, Correlation Ventures, Relevance
Capital, ROTH Capital, Baseline Ventures
$7M - Series B Aug 2017
Mobikon (2008, Singapore, $12M)
Customer engagement and analytics platform for
restaurants
Sistema, Qualgro GP, Jungle Ventures, SPRING
Singapore
Fingerlix (2016, Mumbai, $11.2M)
On-demand semi-cooked food delivery app
Accel Partners, Zephyr Management
BrandProject
EARLY STAGE
$5.4M - Series A Jul 2017
Saucey (2013, Los Angeles, $10.2M)
Online marketplace of alcoholic beverages
Bullpen Capital, Blumberg Capital, Structure Capital,
HashTag One
restaurants
$5M - Series B Apr 2017
HolaChef (2014, Mumbai, $11.2M)
Online curated marketplace for chef prepared meals
Kalaari Capital, SIDBI Venture Capital, India
Quotient
EARLY STAGE
$5M - Series A Mar 2016
Weekly chef prepared recipes, fresh ingredients and
step-by-step instructions delivered
Guild Capital
EazyDiner (2014, Delhi, $8.7M)
Online portal for restaurant discovery, reviews,
deals, table booking and concierge services
Saama Capital, DSG Consumer Partners, Beenext
$4.4M - Series A Nov 2016
YJ Capital, gumi ventures
$4.3M - Series B Sep 2017
FoodLogiQ (2006, Durham, $12.3M)
Tracebility software as a service
Renewal Funds

EARLY STAGE
$4.1M - Series A Aug 2016
ZeroCater (2009, San Francisco, $5.6M)
Food Catering for Office
Romulus Capital, Struck Capital
$3.5M - Series A Jul 2017
Chefmarket.ru (2012, Moscow, $10.1M)
Recipe box delivery service
Mitsui
$3.5M - Series A Aug 2017
7shifts (2011, Regina, $4.7M)
Online employee scheduling software
Tandem Capital, Relay Ventures
$3M - Series A Apr 2017
Zephyr Management
$2.3M - Series A Apr 2016
Bizimply (2011, Dublin, $2.3M)
Attendence managment solution
Causeway Capital, 500 Startups
EARLY STAGE
$2M - Series A Jul 2016
Kalaari Capital, India Quotient
Mitsui
$1.2M - Series A May 2016
7shifts (2011, Regina, $4.7M)
Online employee scheduling software
Relay Ventures, Boost VC
$455k - Series B Dec 2017
Series B Apr 2016
Diageo
EARLY STAGE
Series B Jun 2017
FreshMenu (2014, Bangalore, $21.5M)
Internet first restaurant offering freshly prepared
multi cuisine food
Brand Capital
Series B Dec 2016
InvestEco Capital
Series B Jan 2018
BlueCart (2014, Menlo Park, $14.1M)
Online platform to connect vendors and restaurants
Series B Dec 2017
Online retailer of tea
RB Investments, Accel Partners, Ratan Tata, Robert
M. Bass
Series B Apr 2016
Wongnai (2010, Bangkok)
Restaurant discovery and review website
InVent

EARLY STAGE
Series A Jun 2017
Gwyneth Paltrow, Collaborative Fund, 14W, Rubicon
Venture Capital, Serena Williams, Nick Brown,
Natalie Massenet, Carter Reum
Series A Jan 2018
June (2013, San Francisco, $29.5M)
Smart counter top oven
Amazon
Series A Jun 2017
EazyDiner (2014, Delhi, $8.7M)
Online portal for restaurant discovery, reviews,
deals, table booking and concierge services
YouWeCan
Series A Aug 2017
LimeTray (2013, Delhi)
Platform enabling web presence & marketing for
F&B industry
JSW Ventures
SEED STAGE
$1.5M - Seed May 2016
$1.4M - Seed Jul 2016
Mindful Chef (2014, London, $2.8M)
Meal kit focused to get a lean body
Seedrs
$1.3M - Seed Sep 2017
Crowdcube
$1.3M - Angel Jul 2016
$1.1M - Seed Jul 2017
Foodout (2014, Vilnius, $1.1M)
Online platform to order food from restaurants
Chernovetskyi Investment Group
SEED STAGE
$600k - Seed Jul 2016
Twigly (2015, Gurgaon, $800k)
Mobile-based internet first restaurant
TracxnLabs, Kunal Shah, Gaurav Bhalotia
$311k - Angel Feb 2018
Ashok Kumar Gajera
Angel Jun 2016
Online retailer of tea

FoodTech > Investment Trends > Notable Investments in last 24 months in China
Notable Investments in last 24 months in China
LATE STAGE
$1.2B - PE Apr 2016
Ele.me (2008, Shanghai, $2.3B)
Online ordering and delivery of food from
restaurants with its own logistics network
Alibaba Group, Ant Financial
$100M - Series C Oct 2016
Yi jiu pi (2014, Beijing, $175M)
B2B e-commerce platform for wine and spirits
Greenwoods Investments
$33.4M - Series C Aug 2016
Keru Cloud (2012, Beijing, $48.6M)
SaaS based Digital solutions for Restaurant
Management
CITIC Securities, Prime Mont Capital
$30M - Series C Apr 2016
Ricebook (2012, Beijing, $53.5M)
Social food discovery app and an E-commerce
platform for premium food
Shenzhen Cornerstone Asset Management
LATE STAGE
Series C Jan 2017
Meiweibuyongdeng (2013, Shanghai, $99M)
SaaS and PoS based solution for restaurants and
table booking app
Koubei
EARLY STAGE
Series B Jul 2016
Baidu Waimai (2011, Beijing, $250M)
Online food ordering and delivery platform
Series B May 2016
Yi jiu pi (2014, Beijing, $175M)
B2B e-commerce platform for wine and spirits
Meituan

Most Active Investors (VC, PE) by Stage in FoodTech; Last 5 years (Mar 2013-Mar 2018)
Most Active VC & PE Investors
40
FoodTech > Investment Trends > Most Active VC & PE Investors
SEED STAGE
FJ Labs (7 Investments)
Zesty, Flaviar, Allset Technologies
1
High-Tech Grunderfonds(6 Investments)
Opentabs, Kochrezepte, KUKIMI
2
New Crop Capital (6 Investments)
Memphis Meats, SuperMeat, Sunfed Limited
3
Dorm Room Fund (5 Investments)
BevSpot, Traveling Spoon, Feastfox
4
East Ventures(5 Investments)
Dely, Dah Makan, Berrykitchen
5
Vayner/RSE (5 Investments)
Drizly, Spoon University, Resy
6
Club Italia Investimenti 2 (4 Investments)
VINO75, Gourmant, Sgnam
7
Great Oaks Venture Capital (4
Investments)
Zesty, Drync, Minibar
8
Lemnos (4 Investments)
Nima, Teforia, Pantry
9
Lerer Hippeau Ventures(4 Investments)
Soylent, Spoon University, Resy
10
EARLY STAGE
GV (7 Investments)
Impossible Foods, Toast, Soylent
1
Khosla Ventures(7 Investments)
DoorDash, Impossible Foods, Tapingo
2
Bessemer Venture Partners (6
Investments)
Food52, Toast, MealPal
3
Correlation Ventures(5 Investments)
Mogl, Sun Basket, Invino
4
360 Capital Partners (4 Investments)
FoodChéri, Quitoque, Tiller Systems
5
Index Ventures(4 Investments)
Deliveroo, Zesty, Soylent
6
LaunchCapital(4 Investments)
Eat Club, Invino, BentoBox
7
Accel Partners (3 Investments)
Deliveroo, Swiggy, Fingerlix
8
Collaborative Fund (3 Investments)
Hampton Creek, Ripple Foods, Daily Harvest
9
DN Capital (3 Investments)
Quandoo, Delectable, Take Eat Easy
10
LATE STAGE
Insight Venture Partners (3 Investments)
Delivery Hero, HelloFresh, ezCater
1
Naspers(2 Investments)
Delivery Hero, Swiggy
2
RB Investments(2 Investments)
Swiggy, Faasos
3
Temasek(2 Investments)
Zomato, Impossible Foods
4
Aeterna Capital
TabbedOut
5
Aju IB Investment
Bongdong
6
AllegisCyber
Tillster
7
Altos Ventures Capital
Baemin
8
August Capital
Sun Basket
9
Axon Partners Group
JustEat.in
10

FoodTech > Investment Trends > Most Active Ecosystem Investors
Top Ecosystem Investors in FoodTech; Last 5 years (Mar 2013-Mar 2018)
Most Active Ecosystem Investors
INCUBATOR
500 Startups(56 Investments)
Fooda, E la Carte, Sprig
1
SOSV(28 Investments)
Memphis Meats, Perfect Day, Green Blender
2
Y Combinator(27 Investments)
DoorDash, Gobble, Zesty
3
Techstars(21 Investments)
Plated, Spoon University, Wynd
4
Rocket Internet(8 Investments)
Delivery Hero, Foodpanda, Runnr
5
Ben Franklin Technology Partners(6
Investments)
xtraCHEF, Real Food Works, Zuppler Works
6
Food-X(6 Investments)
Servy, Wine Sherpa, CookMood
7
Dreamit(5 Investments)
Servy, Bar & Club Stats, Fitly
8
Entrepreneurs Roundtable
Accelerator(5 Investments)
Chicory, BookaL, Cups
9
Gener8tor(5 Investments)
Bright Cellars, Replenish Foods, Allergy Amulet
10
OTHER NOTABLE INVESTORS
Kima Ventures(14 Investments)
Flaviar, Craft Coffee, La Belle Assiette
1
IndieBio(10 Investments)
Memphis Meats, Clara Foods, Willow Cup
2
Crowdcube(9 Investments)
Mindful Chef, Honest Brew, Cauli Rice
3
FundersClub(9 Investments)
Goldbely, Flaviar, SpoonRocket
4
Seedrs(8 Investments)
Bonaverde, Wriggle, Mindful Chef
5
Wayra(7 Investments)
OrderLord, Onfan, Foodora
6
Internet Initiatives Development
Fund(6 Investments)
SimpleOrder, Smart Food, VkusNaDom
7
LetsVenture(6 Investments)
TravelKhana, Petoo, POSist
8
Plug and Play Tech Center(6 Investments)
NatureBox, FoodyDirect, Clear Labs
9
Asia Venture Group(5 Investments)
Vicampo.de, Dah Makan, Wine in Black
10
DEBT INVESTORS
Western Technology Investment(10
Investments)
Smart Lunches, 5 Square, Dinner Lab
1
InnoVen Capital(4 Investments)
Swiggy, Tabsquare, HolaChef
2
Lighter Capital(4 Investments)
Ekos Brewmaster, Uncorkd, Lish
3
Trinity Capital Investment(3 Investments)
Impossible Foods, E la Carte, Sun Basket
4
Kreos Capital(2 Investments)
Bookatable, Marley Spoon
5
Trifecta Capital(2 Investments)
Box8, Magic Pin
6
Connecticut Innovations
Voda
7
Moscow Seed Fund
Chefmarket.ru
8
Silicon Valley Bank
EatStreet
9

FoodTech > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (1/5)

FoodTech > Investment Trends > Unicorn Investors in the Sector
Unicorn Investors in the Sector

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
48
BlueBox
Key Sub Sectors
Detailed Sector Taxonomy
Top Markets of Investment Activity
Top Markets of Early Stage Investors
Other Notable Markets
Market Deep Dive

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March 2018Tracxn BlueBox – Food Tech
50
FoodTech > Market Details > BlueBox

Key Sub Sectors
51
Key Sub Sectors in FoodTech
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Companies that provide online or mobile platform for discovering restaurants, ordering food
at restaurants or pickup/ home delivery
Delivery Hero (2011, Berlin, Public)
3987 726 $8.5B
Enterprise Solution
Companies that provide technology solutions and SaaS platforms for Food & Beverage
industry
AFS Technologies (1985, Phoenix,
Acquired)
1209 283 $1.3B
Novel Foods
Companies working on next generation foods which aim to replace current food habits or
ingredients
TerraVia (2003, San Francisco, Acquired)
$366M)
289 89 $1.2B
Companies that develop smart kitchen appliances or IoT-enabled hardware for food industry
or consumers
Pantry (2015, San Francisco, Acquired)
232 103 $678M
Beverages
Companies that provide online platform for discovery, recommendations, and ordering of
beverages
Wine (1998, San Francisco, Acquired)
Vivino (2010, Copenhagen, $57M)
1329 160 $477M
Content
Companies that provide online or mobile platform to access or share food related content on
the internet
Yummly (2009, Redwood City, Acquired)
Tastemade (2012, Santa Monica, $80.3M)
556 112 $272M
FoodTech > Market Details > Key Sub Sectors

Detailed Sector Taxonomy (1/10)
52
FoodTech > Market Details > Detailed Sector Taxonomy

53

54

55

56

57

58

59

60

61

Rank Market
Last 2 Years
$ Invested # Round Top Funded Company
1
(-)
Food Discovery & Ordering > Recipe Box
Companies that provide platform to order meal kits with prepped ingredients and step-by-step cooking
instructions
(Companies covered 212 | Funded 56 | Total Funding $1B)
$427M
(-$151M)
34
(-10)
HelloFresh
2
(-)
Enterprise Solution > Restaurants > Order Management > POS
Companies that provide solutions to restaurants for managing order taking along with customer billing
& payments. May also provide other offerings such as reservation and inve…
(Companies covered 329 | Funded 58 | Total Funding $567M)
$206M
(-$55.2M)
20
(-7)
Toast
(2011, Boston, $131M)
3
(-)
Food Discovery & Ordering > Online Ordering > Internet First Restaurant > On-
demand
Companies that provide food delivery on a daily or on-demand basis
$132M
(-$183M)
49
(-15)
Frichti
(2015, Paris, $48.2M)
4
(+1)
Hardware and IoT Solutions > Smart Kitchen Appliances
Companies that develop smart kitchen devices and kitchen oriented hardware with IoT capabilities
$203M
(+$141M)
19
(-8)
Juicero
5
(+9)
Novel Foods > Food Substitutes > Dairy free
Companies working to provide dairy free substitute for vegan and lactose intolerant market
$179M
(+$162M)
15
(+9)
Ripple Foods
(2014, Emeryville, $110M)
6
(+4)
Food Discovery & Ordering > Online Ordering > Internet First Restaurant > Pre-
ordered Ready-to-heat Meals
Companies that provide ready-to-heat, which are shipped in batches every few days to the consumers
$140M
(+$121M)
12
(+1)
Freshly
(2012, New York City, $107M)
7
(-3)
Food Discovery & Ordering > Dine-Out > Reservation & Ordering > Table
Booking
Companies that enable consumers to make table reservation at the listed restaurants
$72.7M
(+$5M)
22
(-2)
Chope
(2011, Singapore, $24.7M)
62
Note: The numbers in the bracket represent the change in a 2 year period.
Top Markets of Investment Activity (1/3)
Top Markets by Funding in FoodTech in last 2 years (March 2016 - February 2018)
FoodTech > Market Details > Top Markets of Investment Activity

Rank Market # Investments Key Investments
1
Food Discovery & Ordering > Online Ordering > Restaurant Aggregator >
Takeaway
Companies that provide platform to place orders for pickup at the partnered restaurants
(Companies created 79 | Funded 16 | Total Funding $107M )
2
Ritual (2014, Toronto, $42.9M)
2
Food Discovery & Ordering > Recipe Box
Companies that provide platform to order meal kits with prepped ingredients and step-by-step cooking
instructions
(Companies created 212 | Funded 56 | Total Funding $1B )
2
3
Hardware and IoT Solutions > Smart Kitchen Appliances
Companies that develop smart kitchen devices and kitchen oriented hardware with IoT capabilities
(Companies created 63 | Funded 35 | Total Funding $318M )
1 Juicero (2013, San Francisco, $89.8M)
4
Food Discovery & Ordering > Recipe Box > Smoothie Box
Companies that provide kits to prepare smoothies
(Companies created 8 | Funded 3 | Total Funding $46.2M )
1 Daily Harvest (2012, New York City, $44.5M)
5
Enterprise Solution > Restaurants > Backoffice Solutions
Companies that provide more than one back-office solution to restaurants such inventory management,
employee management, customer enagagement etc.
1 Restaurant365 (2011, Irvine, $20M)
6
Novel Foods > Food Substitutes > Meat substitute > Lab-cultured
Companies that develop meat substitute by culturing meat tissue in lab
1 Memphis Meats (2015, San Francisco, $22M)
Note: Investors considered - Sequoia Capital, Accel Partners, Andreessen Horowitz, NEA, Greylock Partners, General Catalyst Partners, Benchmark Capital, KPCB, Khosla Ventures, Redpoint Ventures, Founders Fund, SV Angel, Index Ventures, Bessemer
Venture Partners, Lightspeed Venture Partners, Venrock, Draper Fisher Jurvetson, Institutional Venture Partners, Intel Capital, Battery Ventures
65
Top Markets of Early Stage Investors (1/2)
Top Markets where Early Stage Investors are investing in last 2 years (March 2016 - February 2018)
FoodTech > Market Details > Top Markets of Early Stage Investors

Top Markets of Early Stage Investors (2/2)
FoodTech > Market Details > Top Markets of Early Stage Investors

Rank Market
Last 2 Years
# of Comp Founded $ Invested # Round Top Funded Company
1
Food Discovery & Ordering > Catering > Restaurant Aggregator
Companies that enable customers to place catering orders from restaurants listed on
their platform
(Companies covered 35 | Funded 6 | Total Funding $23.2M)
13 $15.5M
(+$15.5M)
5
(+5)
Smart Lunches
(2012, Boston, $16.3M)
67
Other Notable Markets
Other Notable Markets with high Entrepreneurial Activity in FoodTech in last 2 years (March 2016 - February 2018)
FoodTech > Market Details > Other Notable Markets

Incubators 500 Startups (#2), Rocket Internet (#1)
Seed Founder Collective (#2), FJ Labs (#2)
Series A/B
Great Oaks Venture Capital (#2), Lerer Hippeau Ventures
(#1)
Series C+ Baillie Gifford (#1), Insight Venture Partners (#1)
HelloFresh Nov - 2017
IPO'd
Plated Sep - 2017
Acq by Albertsons
Blue Apron Jun - 2017
IPO'd on NYSE
$39.5M - Series C
$42.8M - Series D
Sun Basket (2011, San Francisco,
$94.8M)
$7.8M - Series C
Seed
Chefy (2016, Tokyo)
$15M - Series B
$1.3M - Seed
$35.2M - Series B
$2.6M - Series A
SimplyCook (2012, London, $3.7M)
$3.5M - Series A
Chefmarket.ru (2012, Moscow,
$10.1M)
Mar 2018
HelloFresh Passes Blue Apron As Biggest Meal Kit Company
In The US, PYMNTS
Mar 2018
Blue Apron and Airbnb Partner to Bring Home Cooks a
Global Culinary Experience, Business Wire
Mar 2018
HelloFresh's Growth Shows Blue Apron's Problems Are Self-
Imposed, The Motley Fool
Mar 2018
HelloFresh revenue jumps and aims to breakeven in Q4
2018, Food Dive
Mar 2018
Blue Apron will start selling its meal kits in stores,
TechCrunch
Mar 2018
Chefs Plate Says Announces National Launch Of Meal Kit
Solution, Reuters
Mar 2018
Gousto secures £28.5m in funding to boost meal kit offer,
FoodBev
Mar 2018 One Potato Expands Family Dinner Kit Service, TexasTechPulse
Mar 2018
Meal kit company One Potato to begin service in Nevada, The
Las Vegas RJ
Feb 2018
Sun Basket Opens Larger East Coast Distribution Center to
Accommodate Rapid Growth and Demand, PR Newswire
Feb 2018
Home Chef rivals Blue Apron by appealing to 'mainstream'
subscribers, DigitalCommerce360
Feb 2018
Blue Apron Shares Rise on Q4 Beat Despite Customer
Decline, Financial Insiders
Feb 2018
Goodfood Market Corp. Announces Addition to Management
Team, Marketwired
Feb 2018
Blue Apron Sheds Customers as Meal Kit Competition
Mounts, The Wall Street Journal
News
0
5
10
15
20
25
30
$0k
$100M
$200M
$300M
$400M
$500M
2013 2014 2015 2016 2017
YoY Funding Rounds
4
7
23
56
212
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Food Discovery & Ordering > Recipe Box: Market Factsheet
Market: Recipe Box
68
ExitsMost Active Investors
Recent Investments
YoY Funding and Rounds
Companies that provide platform
to order meal kits with prepped
ingredients and step-by-step
cooking instructions
Sun Basket
Plated
(2012, New York City, $79.7M)
Gousto
(2012, London, $78.2M)
Home Chef
(2013, Chicago, $50.8M)
Chef'd
(2013, El Segundo, $40.5M)
Top Companies
#1 Top Markets of Investment Activity
FoodTech > Market Details > Market: Recipe Box
Companies Created 212 | Funded 56 | Total Funding $1B

Food Discovery & Ordering > Recipe Box: Top Companies
Market: Recipe Box (1/2)
Analyst’s Pick
Baillie Gifford, Rocket Internet, Insight Venture
Blue Apron (2012, New York City, $194M)
Weekly subscription based meal kits delivery
Fidelity Investments, Stripes Group, Bessemer
Venture Partners and 5 Other Investors
Greycroft Partners, Formation 8, FF Venture Capital
Analyst’s Pick
Hargreave Hale, Angel CoFund, MMC Ventures and
3 Other Investors
Weekly chef prepared recipes, fresh ingredients
and step-by-step instructions delivered
L Catterton, Guild Capital, Breakpoint Ventures and
3 Other Investors
Recipe-And-Ingredient Delivery Service For
Gourmet Meals
Minicorn. Stage: Series B
Campbell Soup Co, Smithfield Foods
Subscription based recipe kit delivery service
Khosla Ventures, Andreessen Horowitz, Trinity
Analyst’s Pick
Marley Spoon (2014, Berlin, $27M)
Recipe and related grocery delivery
Kreos Capital, Lakestar, Point Nine Capital and 3
Other Investors
Minicorn. Stage: Series C
InvestEco Capital and 2 Other Investors
Green Chef (2014, Boulder, $15.5M)
Organic meal kit subscription
New Enterprise Associates, FJ Labs, Greenspring
Associates, TA Ventures
Vegetable based meals-boxes
Lerer Hippeau Ventures, Crosslink Capital,
Lightspeed Venture Partners and 7 Other Investors

Food Discovery & Ordering > Recipe Box: Top Companies
Market: Recipe Box (2/2)
Analyst’s Pick
Minicorn. Stage: Series A
Mitsui, AddVenture, Moscow Seed Fund
Quitoque (2012, Paris, $6M)
Online platform for ordering recipe kits
360 Capital Partners, ISAI Gestion, NCI
SimplyCook (2012, London, $3.7M)
Recipe- kit based grocery delivery
Editor's Pick. Stage: Series A
Maxfield Capital, Episode 1 Ventures, 500 Startups
Minicorn. Stage: Seed
Crowdcube, Seedrs
Minicorn. Stage: Public
GMP Securities, NBF INTERNATIONAL S.A.,
Cormark Securities and 2 Other Investors
Analyst’s Pick
Chefy (2016, Tokyo)
Online platform that delivers prepped recipe kits
Editor's Pick. Stage: Seed
KLab Venture Partners, Yu Akasaka
Foodinthebox (2015, Espana)
Online platform for ordering recipe box
Editor's Pick. Stage: Unfunded
Just Chopped (2016, Poznan)
Online platform to order meal kits for home
delivery
Editor's Pick. Stage: Funded
SpeedUp Venture Group
Purple Carrot (2014, Boston)
Online platform to purchase plant-based meal kits
Windsail Capital Group, New Crop Capital, Stray
Dog Capital, Mario Batali
Smartmat (2012, Antwerp)
Online platform to order recipe box to prepare
meals
Korys
Analyst’s Pick
UCOOK (2014, Cape Town)
Meal kit delivery service
Silvertree

Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
71
Food Discovery & Ordering > Recipe Box: Leaderboard
Market: Recipe Box
Better than Market Average
Overall
Rating
Company
Name
Foun
ded
Year
Location Stage Funding Team
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App
UX
Web
UX
News
Web
Traffic
Rank
Social
Follow
ing
Mobile
Downl
oads
# App
Revie
ws
Web Traffic
Rank
Mobile
Downloads
Social
Following
Δ % Δ % Δ %
5.0 Blue Apron 2012
New York
City
Public $194M - 5 - - 73 10k 57k 75k 3.5k 2k 20% 1.1k 569% 1.9k 3%
5.0 HelloFresh 2012 Berlin Public $367M - 4 - - 23 10k 28k 3.1M 9.1k -3k -24% 1.7k 36% 2.7k 10%
4.9 Home Chef 2013 Chicago Series B $51M - 4 - - 7 26k 9.7k 75k 256 -5k -16% 29 17% 872 10%
4.9 Quitoque 2012 Paris Acquired $6M - 4 - - 2 266k 2.7k 8k 94 -36k -12% 25 72% 666 30%
4.9 Sun Basket 2011
San
Francisco
Series D $95M - 4 - 4 10 37k 3.2k 30k 32 -7k -15% 22 217% - -
4.8 Terra's Kitchen 2015 Baltimore Seed - - 3 - - 4 315k 1.4k 3k 7 123k 64% 5 144% 68 5%
4.8 Plated 2012
New York
City
Acquired $80M - 4 - - 3 45k 21k 30k 329 -10k -20% 73 68% - -
4.8 Gatheredtable 2013 Seattle Seed $4M - 4 - - 1 960k 53 8k 83 448k 87% 2 4% - -1%
4.8
Suppertime
Chef
2014 Los Angeles Unfunded - - 4 - 2 - - 939 810 7 - - 2 9% 2 -
4.7 SimplyCook 2012 London Series A $4M - 3 - - 2 203k 7.4k 30k 84 31k 18% 32 63% - -
4.7 Gousto 2012 London Series C $78M - 3 - - 6 90k 1 30k 191 -3k -3% 42 48% - -
4.7 CookGourmet 2014 Gurgaon Unfunded - - 5 3 4 - 4.7M 490 300 11 5M 132% 2 22% -66 -12%
4.6 Cheftime 2014 Sao Paulo Unfunded - - 5 - - - 2.5M 293 3k 39 882k 58% 2 6% 12 4%
4.6 My Food Bag 2013 Sydney Series A - - 3 - - - 338k 69 30k 61 -35k -9% 8 15% - -
4.6 Culinate 2015 Noida Unfunded - - 4 - - - 2.1M 337 750 18 -116k -5% 12 166% 21 6%

Incubators 500 Startups (#2), Y Combinator (#1)
Seed
Kensington Capital Partners (#1), Walden Venture Capital
(#1)
Series A/B Bpifrance (#1), BDC Capital (#1)
Series C+ Napier Park Global Capital (#1), Recruit Holdings (#1)
Posera Jun - 2004
IPO'd on TSE
PAR Technology Corp
IPO'd
$3M - Series A
Menusifu (2013, New York City, $3M)
$4M - Series A
Foodics (2014, Riyadh, $4M)
$101M - Series C
Series D
$5.2M - PE
iKentoo (2011, Geneva, $5.2M)
$12.5M - Series C
Angel
Devourin (2015, Pune)
$5.3M - Series A
L'Addition (2012, Paris, $5.3M)
Series C
Revel Systems (2010, San Francisco,
$127M)
$3.3M - Series A
QikServe (2011, Edinburgh, $5.6M)
Mar 2018
Resy Partners with Upserve to Offer Restaurants Guest
Insights, Hospitality Tech
Mar 2018
CaterTrax Appointed New Chief Executive Officer,
BestProductsReview
Mar 2018
PAR Technology Corporation Announces 2017 Fourth
Quarter & Full Year 2017 Results, Business Wire
Mar 2018
LevelUp and Gusto Partner to Help Restaurants Drive Guest
Engagement and Loyalty, PR Newswire
Mar 2018
Ziosk Appoints Barry Schliesmann Chief Product Officer,
Citybizlist
Mar 2018
TouchBistro partners with Chase to offer instant payment
processing, BetaKit
Feb 2018 Workpop, ParTech Partner on POS Software, QSR magazine
Feb 2018
PAR Technology Secures Air Force C4ISR Tech R&D
Contract, ExecutiveBiz
Jan 2018
Toast, A Point Of Sale Service For Restaurants, Raises $30M,
TechCrunch
Dec 2017
Posera's Pay-at-the-Table Solution, SecureTablePay, Has
Completed Certification with First Data, CNW
Dec 2017
SICOM Moves Corporate Headquarters to Accommodate
Rapid Growth, GlobeNewswire
Dec 2017
Omnivore Partners with Spreedly in Continued Push to
Transform Restaurant Industry, PRWeb
Nov 2017
New York casino taps PARTech to monitor food operations,
RetailCustomerExperience
Oct 2017
Saudi Arabia-Based Foodtech Startup Foodics Raises US$4
Million Series A Funding, Entrepreneur
News
0
5
10
15
20
$0k
$50M
$100M
$150M
$200M
2013 2014 2015 2016 2017
YoY Funding Rounds
3
8
20
58
329
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Enterprise Solution > Restaurants > Order Management > POS: Market Factsheet
Market: POS
72
Exits
Most Active Investors
Recent Investments
Companies that provide solutions
to restaurants for managing order
taking along with customer billing
& payments. May also provide
other offerings such as
reservation and inventory
management.
Toast
(2011, Boston, $131M)
Revel Systems
E la Carte
(2008, Palo Alto, $52.5M)
Wynd
(2013, Paris, $41.9M)
Top Companies
FoodTech > Market Details > Market: POS
Companies Created 329 | Funded 58 | Total Funding $567M

Enterprise Solution > Restaurants > Order Management > POS: Top Companies
Market: POS (1/2)
Analyst’s Pick
Capital, Bessemer Venture Partners and 2 Other
Investors
WCAS, ROTH Capital, Welsh Carson Anderson
Stowe and 4 Other Investors
E la Carte (2008, Palo Alto, $52.5M)
SaaS-based restaurant management solution
through tablets
Trinity Capital Investment, Western Alliance
Bancorporation, TriplePoint Capital and 8 Other
Investors
Analyst’s Pick
analytics
Vista Equity Partners, First Round Capital, Index
POS for restaurants
Digital+ Partners, METRO, Concardis and 2 Other
Investors
Lavu iPad PoS (2010, Albuquerque, $15M)
iPad-based PoS system.
Minicorn. Stage: Series A
Aldrich Capital Partners, EPIC Venture Fund
Analyst’s Pick
Menusifu (2013, New York City, $3M)
SaaS-based POS and ordering solution for the
restaurant
Amino Capital
POSist (2011, Delhi, $490k)
SaaS based restaurant POS and management
software
LetsVenture, Hiraco Ventures, Singapore Angel
Network, Purvi Capital
Torqus Systems (2012, Pune, $350k)
SaaS-based POS, customer engagement solution and
SCM solution for restaurants
Creating Revolutions (2013, Miami)
Online SaaS-based solutions for order management
Dining Butler (2015, Singapore)
App based digital menu and POS solution for
resturants

Enterprise Solution > Restaurants > Order Management > POS: Top Companies
Market: POS (2/2)
Analyst’s Pick
Omnivore (2014, Hayward)
Cloud solutions that offers API for restaurant POS
integration
PAR Technology Corp (1978, New Hartford)
POS and food safety solutions for restaurants

75
Enterprise Solution > Restaurants > Order Management > POS: Leaderboard
Market: POS
Overall
Rating
Company
Name
Foun
ded
Year
App
Rating
App
UX
Web
UX
News
Web
Traffic
Rank
Social
Follow
ing
Mobile
Downl
oads
# App
Revie
ws
Web Traffic
Rank
Mobile
Downloads
Social
Following
Δ % Δ % Δ %
5.0 L'Addition 2012 Paris Series A $5M - 3 3 4 - 349k 814 3k 29 21k 6% 2 7% 37 5%
5.0 EmaginePOS 2012 Ferndale Series A $2M - 4 4 4 - 3.6M 162 7k 14 147k 4% 30
-
235%
-1 -1%
5.0
Torqus
Systems
2012 Pune Seed $350K - 5 - 3 - 710k 31 750 38 114k 17% 23 133% - -1%
5.0 POS bistro 2012 Krakow Funded - - 4 - 4 - 495k 145 4k 41 -115k -19% 2 5% 31 26%
4.9 Revention 2003 Houston Unfunded - - 4 - 4 1 1.7M 749 1.3M 30.8k 297k 23% 5.3k 19% 7 1%
4.9 Quick Resto 2013 Moscow Acquired - - 4 - 3 - 538k 37 13k 183 -10k -2% 7 4% 2 3%
4.9 Devourin 2015 Pune Seed - - 4 2 4 1 2.1M 1 8k 75 - - 6 10% - -
4.9 POS Sector 2007 Mostar Unfunded - - 4 3 4 - 366k 394 9k 58 -9k -2% 1 1% 3 1%
4.9
AirService
Digital
2010 Surry Hills Series A $2M - 4 - - - 10M 353 15k 38 23M 171% 2 7% -167 -38%
4.9 Smart Lab LLC 2011 Kyiv Unfunded - - 4 4 4 - 743k 26 37k 301 27k 4% 65 27% 28
-
12921
%
4.8 Focus POS 2010 Texas City Unfunded - - 3 4 3 - 711k 685 8k 47 -515k -42% 2 4% 35 5%
4.8 POSist 2011 Delhi Seed $490K - 4 - - - 285k - 6k 80 -54k -16% 19 33% - -
4.8
OMAK
Technologies
2012 Colombo Seed $562K 5 4 - - 1 9.5M 70 40k 591 - - 4 2% - -
4.8 Upserve 2009 Providence Series D $41M - 2 - - 8 155k 6.5k 3k 67 - - 2 67% 83 1%

Incubators 500 Startups (#5), Y Combinator (#2)
Seed FundersClub (#2), Indian Angel Network (#2)
Series A/B BoxGroup (#1), E.ventures (#1)
Series C+ Greycroft Partners (#1), Northgate Capital (#1)
None
Series A
Grain (2014, Singapore, $1.7M)
$2.6M - Series A
Dah Makan (2014, Kuala Lumpur,
$4.2M)
$2.1M - Series A
InnerChef (2015, Gurgaon, $6.5M)
Seed
Biryani By Kilo (2015, Gurgaon)
$6.9M - Series B
Seed
Project Jackfruit (2017, Birmingham)
Series A
InnerChef (2015, Gurgaon, $6.5M)
$10M - Series A
ClusterTruck (2015, Indianapolis,
$14M)
$4.5M - Series A
GrowFit (2015, Bangalore, $5.4M)
Seed
Dah Makan (2014, Kuala Lumpur,
$4.2M)
Mar 2018
InnerChef launches its third cloud restaurant YumYumSouth,
Indiatimes
Mar 2018
YC alum Dahmakan, a Kuala Lumpur-based food delivery
startup, acquires Polpa to expand into Thailand, TechCrunch
Mar 2018
First investment from Alteria’s venture debt fund goes to
Fingerlix, newcroplive.com
Mar 2018
Alteria Capital backs read-to-cook food startup Fingerlix in
debut deal, Starter Incubator
Mar 2018 AwesomeChef launches DIY health meal kits, Business Line
Mar 2018
Sodexo Brings a Fresh Twist to Ordering Food Online, PR
Newswire
Feb 2018
Online restaurant gets money from fund managed by
SingPost’s ex-chairman, Tech in Asia
Jan 2018
Alteria Capital invests in ready-to-cook food startup
Fingerlix in debut deal, The World Mobile News Network
Jan 2018
Sodexo Acquires Majority Stake In French Online Restaurant
Foodchéri, RetailBoard
Dec 2017
InnerChef to float more kitchens and brands, leverage
artificial intelligence, VCCircle
Dec 2017
MonkeyBox, backed by Blume Ventures, acquires food
delivery startup 75 In A Box, MyBigPlunge
Dec 2017
FreshMenu Launches Membership Program 'FreshClub',
Franchise India
Dec 2017
FreshMenu Fined By Bangalore’s Municipality For Violating
Cleanliness Norms, Kitchen Found Unhygienic, OfficeChai
Nov 2017
Food-tech startup FreshMenu to get investment from BCCL,
The Indian Wire
News
0
10
20
30
40
50
$0k
$50M
$100M
$150M
$200M
$250M
$300M
2013 2014 2015 2016 2017
YoY Funding Rounds
-
6
26
83
540
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Food Discovery & Ordering > Online Ordering > Internet First Restaurant > On-demand: Market Factsheet
Market: On-demand
76
Exits
Most Active Investors
Recent Investments
Companies that provide food
delivery on a daily or on-demand
basis
Munchery
Faasos
(2011, Pune, $63.8M)
Frichti
(2015, Paris, $48.2M)
FreshMenu
(2014, Bangalore, $21.5M)
Top Companies
FoodTech > Market Details > Market: On-demand

Food Discovery & Ordering > Online Ordering > Internet First Restaurant > On-demand: Top Companies
Market: On-demand
Analyst’s Pick
Faasos (2011, Pune, $63.8M)
Multi-brand web and mobile-based cloud kitchen
Minicorn. Stage: Series C
Sequoia Capital, Lightbox Ventures, RB Investments
FreshMenu (2014, Bangalore, $21.5M)
Internet first restaurant offering freshly prepared
multi cuisine food
Brand Capital, Zodius Capital, Knollwood
Investment Advisory and 2 Other Investors
Accel Partners, Zephyr Management
Dah Makan (2014, Kuala Lumpur, $4.2M)
Healthy lunchboxes delivered
Y Combinator, Texas Atlantic Capital, Atami Capital
Analyst’s Pick
Grain (2014, Singapore, $1.7M)
Delivers fresh healthy meals
Majuven, Foodxervices, First Gourmet and 6 Other
Investors
Twigly (2015, Gurgaon, $800k)
Mobile-based internet first restaurant
TracxnLabs, Kunal Shah, Gaurav Bhalotia and 2
Other Investors
48East (2016, Bangalore, $750k)
Internet-first restaurant offering Asian cuisine
Editor's Pick. Stage: Acqui-Hired
Al Dhaheri Capital Investment, ACPL Exports
BimBimGo (2015, Paris)
Internet first restaurant serving ready to eat meals
on-demand
Editor's Pick. Stage: Funded
Kima Ventures

78
Food Discovery & Ordering > Online Ordering > Internet First Restaurant > On-demand: Leaderboard
Market: On-demand
Overall
Rating
Company
Name
Foun
ded
Year
App
Rating
App
UX
Web
UX
News
Web
Traffic
Rank
Social
Follow
ing
Mobile
Downl
oads
# App
Revie
ws
Web Traffic
Rank
Mobile
Downloads
Social
Following
Δ % Δ % Δ %
5.0 Box8 2011 Mumbai Series B $12M 4 4 3 4 3 114k 5.7k 750k 19.5k 13k 12% 7.5k 64% 1.9k 46%
5.0 FreshMenu 2014 Bangalore Series B $22M - 4 4 3 25 57k 5.4k 825k 23.2k 24k 70% 6.3k 41% 433 9%
5.0 Twigly 2015 Gurgaon Seed $800K 5 5 5 4 6 1.6M 461 30k 359 746k 61% 14 4% 12 3%
5.0 InnerChef 2015 Gurgaon Series A $7M - 4 4 3 11 377k 2.2k 300k 1.5k 167k 77% 135 11% 92 4%
4.9 GrowFit 2015 Bangalore Series A $5M - 4 3 4 1 494k 1.2k 307k 1.8k - - 128 8% 72 7%
4.9 Frichti 2015 Paris Series B $48M - 5 - - 4 97k 2.7k 31k 606 15k 17% 358 147% 287 12%
4.9
BatsOnDeliver
y
2013 Gurgaon Seed $88K - 4 3 3 2 4.6M 277 9k 69 2M 76% 2 3% 2 1%
4.9 48East 2016 Bangalore
Acqui-
Hired
$750K - 5 - 4 1 2.4M 132 3k 66 - - 7 11% 19 16%
4.9 Grain 2014 Singapore Series A $2M - 5 - - 4 1.1M 60 4k 55 193k 22% 2 6% 1 2%
4.9 FoodChéri 2015 Paris Acquired $8M - 4 - - 2 113k 2.7k 30k 158 -23k -17% 23 24% 330 14%
4.9 Dah Makan 2014
Kuala
Lumpur
Series A $4M - 4 - - 5 542k 712 300k 2.5k 28k 5% 998 71% 97 16%
4.8 Munchery 2011
San
Francisco
Series D $122M - 4 - - 16 96k 17k 75k 1.9k 16k 20% 74 20% - -
4.8 Faasos 2011 Pune Series C $64M - 4 - 3 - 111k 58k 3.1M 84k - - - - 3.8k 7%
4.8
Charcoal
Biryani
2015 Mumbai Seed $150K 4 5 4 4 1 1.9M 487 750 42 -925k -33% 6 24% - -
4.8 Petoo 2015 Bangalore Seed $2M 4 4 3 4 2 1.5M 20 30k 777 -53k -3% 13 2% - -

Market: Smart Kitchen Appliances
79
FoodTech > Market Details > Market: Smart Kitchen Appliances

Market: Dairy free
82
FoodTech > Market Details > Market: Dairy free

Market: Dairy free

Market: Pre-ordered Ready-to-heat Meals
85
FoodTech > Market Details > Market: Pre-ordered Ready-to-heat Meals

Market: Table Booking
88
FoodTech > Market Details > Market: Table Booking

Market: Table Booking (1/2)

Market: Table Booking (2/2)

Market: Table Booking

Tracxn - Food Tech Startup Landscape

Tracxn - Food Tech Startup Landscape

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