Choco

Based in Berlin, Choco is an ordering platform that connects restaurants and suppliers.  Choco’s app and web platform digitizes the ordering process of ingredients and increases communication to avoid ordering too much and reduces food waste. The Choco app can be used free of charge by both restaurants and suppliers but a premium is charged to suppliers if they wish to integrate the app into their enterprise resource planning systems. 

As of July 2021, the company had over 10,000 active restaurants and suppliers on its platform across the US, Germany, France, Spain, Austria and Belgium. Choco also expects to expand its services to new markets such as Latin America, the Middle East, and Asia. The company claims that it processes around 100,000 orders per month and saves its users over 2 hours per week.

The company reported that it has seen a ~350% growth in users over the past year, with annualized gross merchandise value reaching USD 1.2 billion in February 2022 from USD 900 million in 2020. 

In April 2022 , Choco raised USD 111 million in a Series B2 funding round which valued the company at USD 1.2 billion  (double the valuation achieved in July 2021 ). The round was led by G Squared, alongside existing investors Insight Partners, Coatue Management, and Bessemer Venture Partners.