Poke House raises $24 Million in Series B funding

Poke House raises $24 Million in Series B funding

Poke House, based in Milano, Italy, has raised EUR 20 million (USD 24 million) to expand its poke bowl delivery concept across Europe. The company has now raised €20 million ($24 million) in a Series B funding round led by Eulero Capital, with FG2 Capital and Milan Investment Partners SGR reinvesting. It optimizes the production and delivery of its product using technology and data via all major food delivery platforms such as Uber Eats, etc. Within two years, the Italian-born food tech startup claims to have built a “€100M+ company.” Poke House, founded by Matteo Pichi and Vittoria Zanetti, has opened 30+ stores in Italy, Portugal, and Spain and now employs 400 people. It anticipates a revenue of more than €40 million in 2021.Pokeacute 20m serieskumparaktechcrunch.

With the funds, the startup will begin opening new stores in existing markets, enter France, and begin expanding in the United Kingdom. Poke House claims to use a lot of technology on its back end to optimize the business, tracking every element of the supply chain. It also analyses data from third-party delivery platforms (such as Deliveroo, Glovo, and Uber Eats) to provide a food preparation time of less than 10 minutes and a delivery time of less than 25 minutes.House of poke. Poke house.

“The pandemic has challenged our food sector,” said Matteo Pichi, co-founder of Poke House. “We see technology as the way forward to innovate and digitalize the traditional restaurant experience.” People’s preferences for fast but healthy food are changing. Poke bowls meet this new demand, and they promote a more balanced, active, and sustainable lifestyle by providing quick and healthy food options nearby.”

“Our competitors are the fast-growing healthy concepts such as Sweetgreen or Sweetfin in the United States,” Pichi told TechCrunch. At the same time, we believe we are fortunate because we are one of the first brands built entirely from food delivery experts or former employees. Our next competitors will be full-fledged virtual brands that excel at data analysis and digital brand building. We use food delivery platforms as media platforms and invest more heavily in the channel than competitors.”

“Poke House’s business model rides some of the main trends in the food sector (food-tech, healthy food, delivery, customization) and has all the characteristics and talents to position the company among the top players at the European level,” said Gianfranco Burei, founding partner of Eulero Capital. We are excited to be a part of Poke House’s innovative and forward-thinking project, which aligns with our investment strategy of looking for companies that are part of the macro-trends that will characterise the economic, technological, and social evolution of the coming years.”

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