A London-based all-in-one wholesale food platform connecting buyers and sellers has raised a £350,000 pre-seed round.
Platter is consolidating all food ordering, sales and purchasing tools within one digital platform to tackle food sourcing inefficiencies for the 75 per cent of businesses that still manage their food orders offline.
The funds raised will largely be deployed towards talent acquisition in sales and marketing in order to continue scaling the business.
Around 800,000 businesses operating across Europe’s food industry lose millions of hours a week carrying out manual orders.
The company’s users reduce the processing time of orders received by an average of 30 minutes, and achieve sales uplift of up to 26 per cent by aggregating all third party partners for the ordering, transportation, financing and sustainability of food.
As part of its sustainability goals, Platter enables users to connect with food charities in order to donate surplus stocks.
Platter is the only platform of its kind that caters to both manufacturers and buyers, and which also integrates finance, food donation and surplus stock tools.
The business is looking at a total addressable market of £96bn with over 1.1m potential customers across Europe.
“This raise allows us to grow the team, keep building, and stay laser focused on solving the real day-to-day problems in the food industry,” said Jack Clegg, CEO and founder of Platter.
“From someone who’s spent years on both the buying and sales side, now sitting in the founder seat, it’s always been about making life easier for the people who keep the wholesale food world turning.”
Angel investor, Toby Webber, added: “Jack has an outstanding knowledge of the market niche that Platter serves its clients.
“He combines this with a passion for strategically implementing technology in a rapidly evolving market, and an impressive understanding of the startup ecosystem. Platter was an easy investment for me and my network; we remain extremely bullish on its potential.”
The round saw participation from Startup Wise Guys and a group of highly experienced angel investors and investors in SaaS, ERP and the food industry.
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