Neotaste, a German restaurant app that digitally connects guests and gastronomy, announced its Series A round of €5.9 million led by Burda Principal Investments (BPI), the growth capital arm of media and technology company Hubert Burda Media. Existing investors such as Userlane founder Kajetan Uhlig and Flaschenpost co-founders and current CEOs Niklas Plath and Christopher Huesmann also participated.
With this investment, BPI, whose investment thesis revolves around supporting high-growth digital platforms for consumers and SMEs, subscription models, and ventures that leverage network effects, adds a digital platform for restaurants and their customers to its portfolio
“The two founders and their lean team have developed an engaging product. The platform is highly appreciated by both consumers and restaurants,” said Friedrich von Wulffen, Investment Manager at BPI.
“Neotaste has grown strongly in recent months and has been able to increase its turnover exponentially. This is a testament to their scalability and strong network effects, which not only make them an ideal partner for us, but also shows us that expanding their offering into other German cities and the international market is the next logical step,” added Julian von Eckartsberg, Managing Director Europe at BPI.
Osnabrück-based Neotaste is a comprehensive app-based solution that integrates customer-restaurant interactions: consumers get exclusive dining deals and restaurants benefit from an accessible platform to enhance customer engagement. More than 300,000 users already have access to deals via the subscription app, which are currently offered exclusively by more than 1,300 restaurants in thirteen German cities. With the new funding, the startup plans to expand to other German cities and internationally, and to add additional products and services to the platform.
“We are incredibly thrilled that BPI has joined us as the lead investor for our newest financing round. It is an absolute pleasure to have such a well-known and esteemed investor come on board at this early stage of our journey. The vast expertise of BPI in creating exceptional consumer products, particularly in the realm of marketplaces, will undoubtedly complement Neotaste’s vision and mission,” commented Hendrik Sander, Co-founder & CE0 of Neotaste.
Neotaste co-founders Hendrik Sander and Tobias Düser launched the app in September 2021 after using the Corona lockdowns to prepare. The first city where deals were available was Hannover. Since then, they have gradually rolled out the concept to twelve other German cities, most recently adding Hamburg, Munich and Frankfurt. While subscribers benefit from offers such as ‘two main courses for the price of one’, restaurants can use Neotaste to promote themselves, generate new customers and receive customer reviews.
Read the orginal article: https://www.eu-startups.com/2023/08/german-gastronomy-app-neotaste-snaps-e5-9-million-to-expand-its-customer-restaurant-interactions-solution/
