15 September 2021
InfraVia leads the €31m Series B funding round of Foodles the French leader in B2B2C Foodtech
Leading this new round InfraVia Growth partners with Bpifrance Large Venture and historic investors Creadev, DN Capital and Adelie. It is Infravia Growth Fund I’s fifth transaction in 2021 following investments in Jobandtalent, Sightcall, Paysend and Botify. The fund has now deployed more than €120m in high growth tech companies out of €450m committed to date.
- Pioneer in the “cloud canteen” market, Foodles provides smart, connected fridges, installed in the premises of mid and large companies, offering employees 24/7 access to fresh, good quality and affordable food within their buildings.
- The company uses “real-time” consumption data to optimise the entire value chain from recipe design to last mile logistics.
- This integrated, data-driven organisation makes it possible to offer food that is both tasty, responsible and affordable.
- Foodles is the first in its sector to raise a Series B financing. The €31m round will allow the scale-up to strengthen its sales teams, consolidate its technological lead and expand internationally.
Founded in 2015 and headquartered in Paris, Foodles is using technology to transform the corporate catering market, that has an estimated size of €240bn in Europe. The company focuses on offices with between 50 and 500 employees – a category that is particularly poorly served by traditional market players.
Offering a solution that meets the expectations and requirements of consumers (flexible hours, quick lunches, more choice and diversity, etc.), Foodles has been able to convince a wide range of public and private companies in various economic sectors, such as the Groupe SNCF, La Monnaie de Paris, Oddo BHF, Gecina, la Ville d’Issy-les-Moulineaux, Ubisoft etc.
After Paris, the scale-up established a presence in several French cities (Lille, Lyon, Marseille, Strasbourg, etc.) between 2020 and 2021 as well as in Brussels, highlighting the potential and relevance of its business model across Europe. Foodles aims to build on this success and deploy its business model with local teams in other European countries.
Today, Foodles counts over 150 clients across France and serves nearly 25,000 employees. Michael Ormancey and Clément Bonhomme, Foodles’ founders commented: “We are delighted to partner with InfraVia for this new European step. The quality of their teams and their recognised expertise in new technologies and in helping companies scale their businesses will be instrumental in supporting our development on an international scale.”
Guillaume Santamaria, Partner at InfraVia, said : “With its ambitious and agile team led by two passionate founders, Clément and Michael, Foodles is transforming the corporate catering model. We are proud to have been able to structure this new financing round that aims to make Foodles a key player in the cloud canteen sector in Europe.”
Julie Lewkowicz, Investment Manager at InfraVia, added : “This transaction is the result of a long-standing relationship between our two teams. As such, it is particularly illustrative of our way of working and the type of value add we bring to the entrepreneurs who put their trust in us.”
Vincent LEVITA Founder and CEO
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