<div>
  <ul>
    <li>
      <p>
        Choco, a Berlin-based ordering platform that connects restaurants and suppliers, has raised USD 111 million in a Series B2 funding round led by G Squared, alongside existing investors Insight Partners, Coatue Management, and Bessemer Venture Partners. The round values the company at USD 1.2 billion (double the valuation achieved in July 2021) and brings its total funding to USD 282.5 million.
      </p>
    </li>
    <li>
      <p>
        The company expects to use the funds to grow its team and strengthen its footprint across the US and Europe, with plans to expand to new markets as well. The company also expects to further develop its product and technology, looking to add new features like financial services to its platform.
      </p>
    </li>
    <li>
      <p>
        The company reported today 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.&nbsp;
      </p>
    </li>
  </ul>
  <p>
    &lt;ul&gt;&lt;li&gt;This round of funding follows the company&rsquo;s 
    <a href="https://sp-edge.com/updates/4349">
      Series B
    </a>
     round of funding in July last year, where it raised USD 100 million at a USD 600 million valuation.&lt;/ul&gt;
  </p>
  <p>
    &lt;ul&gt;&lt;li&gt;
    <b>Analyst QuickTake:</b>
     The waste prevention tech space has attracted the most funding among the food waste startups (~USD 2.5 billion) with players such as 
    <a href="https://sp-edge.com/updates/8609">
      Relex Solutions
    </a>
     (USD 804 million) and 
    <a href="https://sp-edge.com/updates/8718">
      Apeel Sciences 
    </a>
    (USD 640 million) being heavily funded. Choco competes with players like Relex Solutions, offering an automated ordering platform to reduce food waste. While Relex mainly targets food retailers (350+ clients as of 2021), Choco&rsquo;s target customers have been restaurants and food suppliers (10,000 active restaurants as of July 2021).&lt;/ul&gt;
  </p>
</div>


<div>
  <p>
    <a href="https://techcrunch.com/2022/04/11/choco-unicorn-food-waste-supply-chain/">
      Techcrunch
    </a>
  </p>
  <p>
    <a href="https://tech.eu/2022/04/12/choco-chalks-up-111-million-punches-ticket-at-the-unicorn-club/">
      Tech EU
    </a>
  </p>
</div>


All Updates

Choco raises USD 111 million in Series B2 funding and doubles valuation

Choco Raises USD 100 million Series B at USD 600 million valuation