The platform for managing orders between restaurants and suppliers Choco has raised 102 million euros, which values it at 1.12 billion euros, making it a unicorn.
This is the new nugget of Foodtech. Founded 4 years ago, the Choco application aims to revolutionize the relationship between restaurateurs and their suppliers.
As simple as a Whatsapp messenger, the idea is to centralize and digitize all orders: bakery, butcher, greengrocer. This is a real leap forward in the sector whereas today everything is still done on paper.
On average, a restaurant has 13 suppliers, including 6 to 7 daily. Among the benefits of the platform, time savings, fewer errors in the supply chain and less waste.
“Choco” claims 15,000 restaurateurs in Europe and nearly 10,000 suppliers. Since its creation, it has already raised more than 246 million euros, which allows it to ensure its development while waiting to find the right economic model.
For the moment, the service is free, but the Franco-German start-up is considering new paid features such as delivery tracking, or the reduction of unpaid bills.