The European Funding Financial institution (EIB) has introduced they’re investing €20 million in StiQ, an Athens-based FoodTech firm innovating AI-powered cloud kitchen know-how.
The financing, backed by the InvestEU programme, will assist the corporate’s R&D, digital innovation and worldwide enlargement, serving to remodel the way forward for meals supply in Europe via smarter, extra sustainable and scalable operations.
Konstantinos Davaris, Founder & CEO of StiQ stated: “We’re thrilled to welcome the European Funding Financial institution as a strategic companion in our mission to redefine fast-casual eating. At StiQ, we’re main a brand new period of wholesome consuming by mixing cutting-edge know-how and AI with culinary excellence. By way of our various portfolio of manufacturers, together with Protein Backyard, Dinas, Wholesome Idea, and extra, we ship scrumptious, nutritious, and inexpensive meals that make wholesome eating accessible to everybody. With EIB’s assist, we’re able to scale our imaginative and prescient, fostering a extra sustainable, health-conscious future for communities worldwide.”
Based in 2022, STIQ seems to change into a trailblazer within the digital restaurant (cloud kitchen) area. Its mannequin integrates software program, logistics, and meals operations right into a single platform that permits environment friendly preparation and supply of a number of digital restaurant manufacturers from a community of culinary hubs.
The corporate has raised over €10 million so far and is now coming into its European progress part.
Key options of the platform embrace:
- AI-powered demand forecasting, dynamic menu engineering and stock optimisation
- Sensible routing and grouped order supply, decreasing CO₂ emissions and supply time
- Information-driven operations that improve consistency, meals security, and buyer satisfaction.
With 5 dwell kitchen hubs in Athens, serving over 20 manufacturers to a possible market of three million residents, STIQ at the moment employs 200 workers and plans to succeed in 30 hubs throughout Europe by 2029.
The corporate seems to scale quickly whereas sustaining a robust deal with meals high quality, operational effectivity and environmental duty, together with zero-waste targets and the adoption of electrical supply fleets.
EIB Vice-President Yiannis Tsakiris, stated: “This funding displays the EIB’s agency dedication to supporting innovation, digital transformation and entrepreneurship throughout Europe. STIQ is reshaping the meals supply mannequin via know-how, and we’re proud to assist a Greek firm that’s constructing scalable, sustainable options with European attain.”
The funding is a part of the EIB’s strategic deal with digital transformation, innovation and cohesion, and goes consistent with its continued assist for high-potential know-how ventures in Southern and Japanese Europe.
Structured as enterprise debt with quasi-equity options, the financing will allow STIQ to speed up the event of its proprietary platform, deploy superior AI options, and increase its operational footprint past Greece into new EU markets.
The EIB financing is backed by the InvestEU programme underneath the “Future Applied sciences” window and addresses key market gaps in entry to progress capital for early-stage European tech firms.
