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Belgium-based hospitality scaleup Apicbase raises €4 million to expand its food and beverage management platform
Charlotte Tucker
Apicbase, an international hospitality technology scaleup, today announces it has raised €4 million in a Series A funding round led by Volta Ventures, along with existing investors Newion, AAA Fund and Business Angels.
The Belgian SaaS company, founded in 2017, has developed a food and beverage management platform for hospitality and food businesses.
The digitalization of the hospitality sector is booming, and Apicbase offers an effective answer to this. Year after year, the company is recording 100% growth, even during the COVID-19 pandemic. Today, restaurant chains, ghost kitchen networks and large catering companies worldwide are using the platform to drive their back-of-house operations.
Apicbase simplifies the supply chain of large hospitality businesses. It centralizes the many kitchen processes in the cloud, automates calculations, provides insight into big data, and predicts purchasing volumes, regardless of the number of locations or concepts the hospitality business manages. Apicbase forms a single source of truth for food and beverage management and integrates seamlessly with other platforms such as POS systems, accountancy, and payroll.
Staff no longer need to check multiple apps, spreadsheets, or tools to make cost calculations or look up recipes. Apicbase automates inventory management and users can purchase directly from their suppliers via the software.
This minimizes the workload and significantly reduces the likelihood of errors occurring. Management disposes of a dashboard with accurate data to guide the decision-making process; in particular to avoid waste and increase margins.
Apicbase will use the fresh capital to reinforce three product pillars: usability, forecasting through artificial intelligence and scalability for enterprise customers.
Carl Jacobs, CEO and co-founder, commented: "We are using the capital increase to grow the platform and solve the specific challenges of large enterprises. We are recruiting plenty of talent, not in the least additional developers. By the end of 2022, we plan to double the number of employees and open offices in New York, London and Amsterdam."
Pieter Wellens, CTO and co-founder, explained further: "Today we are the product leader in our niche, and we want to consolidate that position through continuous innovation. Already, Apicbase can predict the purchases and production plans of multiple sites with great precision. But we continue to make the software smarter. For example, we are systematically rolling out additional AI features that incorporate more variables into the calculations for even more powerful forecasts."
Koen De Waele, Venture Partner Volta Ventures, said: "As Volta Ventures, we are very much looking forward to supporting Apicbase in their international expansion. The growth of the last years as well as the rollout of several enterprise customers in the various segments of the hospitality industry shows that Apicbase is truly the beating heart in hospitality, both in the kitchen and in the boardroom."
Apicbase
Volta Ventures
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Charlotte is the previous Editor at EU-Startups.com. She spends her time scouting the next big story, managing our contributor team, and getting excited about social impact ventures. She has previously worked as a Communications Consultant for number of European Commission funded startup projects.
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